This paper aims to fill the gaps in the analysis of risk‐sharing channels at the microlevel, both within and across … households. Using data from the Bank of Italy's Survey on Household Income and Wealth covering the financial crisis, we are able … to quantify in a unified and consistent framework several risk‐sharing mechanisms that so far have been documented …

the consumption level of all households who are perceived to be richer, on household savings and consumption. When …

asymmetry are usually considered as mutually exclusive. Using a single data set for US personal consumption, income and wealth … literature. Our findings can also be interpreted in the context of the secular decline in the US personal savings rate before the …Verschiedene Abweichungen von der Permanenten Einkommenshypothese mit rationalen Erwartungen sind in der Literatur …

-quarter of total household wealth in Europe provides further corroboration for this finding. …

-to-mouth households. One-asset models either feature a trade-off between a high average MPC and a realistic level of aggregate wealth, or … generate an excessively polarized wealth distribution that vastly understates the wealth held by households in the middle of …