We propose a novel approach to estimate household income uncertainty at various future horizons and characterize how … the estimated uncertainty evolves over the life cycle. We measure income uncertainty as the variance of linear forecast … errors conditional on information available to households prior to observing the realized income. This approach is …

This paper assesses the quantitative importance of a number of sources of income risk for household welfare and … precautionary saving. To that end I construct a lifecycle consumption model in which household income is subject to shocks … associated with disability, health, unemployment, job changes, wages, work hours, and a residual component of household income. I …

Data from the Federal Reserve Board's Survey of Consumer Finances show a striking pattern of growth in family income … among the group of families whose income was higher than the median. The median value of family net worth grew faster than … that of income, but as with income, the growth rates of net worth were fastest for groups above the median. The years …

, while the accounting of household income from stock holdings may be skewing saving estimates. Moreover, broad measures of …

families changed notably in the three-year period. While income continued a moderate upward trend, net worth grew strongly, and … with 1995, debt repayments in 1998 accounted for a larger share of the income of the typical family with debt, and the …

The issue of whether higher lifetime income households save a larger fraction of their income is an important factor in … empirical methods and the Panel Study on Income Dynamics, the Survey of Consumer Finances, and the Consumer Expenditure Survey … income groups: differences in Social Security benefits, different time preference rates, non-homothetic preferences, bequest …

Recognizing how hard it is for low-income workers to save, D2D Fund develops, tests, and rolls out asset …

We study the trend in household income uncertainty using a novel approach that measures income uncertainty as the … variance of forecast errors at each future horizon separately without imposing parametric restrictions on the underlying income … shocks. We find that household income uncertainty has risen significantly and persistently since the early 1970s. For example …