on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure … have access only to a risk‐free asset compared to when we account for the fact that much of their wealth is stored in …

) for individuals' wealth accumulation. Using survey data from the German SAVE initiative, we find strong gender- and … education-related differences in the distribution of the two variables and their effects on wealth: As financial literacy rises … become strongly underconfident with higher education, while men remain overconfident. Regarding wealth accumulation, we show …

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …

group. While a negative wealth effect on saving could have been expected, households amortized even more in response to the …