We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution … works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to …

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution … works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to …

A method to impute consumption expenditure inequality between wealth groups in the Survey of Consumer Finances is … increases in wealth inequality have passed through to consumption. Repeating this exercise in the Panel Study of Income Dynamics … provided, allowing for measurement error that is correlated with income and wealth. Identification is derived from observing …

We document relevant racial differences in the degree consumption insurance against shocks: Blacks appear to be less …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper … population) as well as in mortgage markets have led to a structural break in the effect of housing wealth on consumption in the …

effect of wealth shocks on household consumption and individual expectations of the future. Many household experienced a … significant wealth shocks, but these shocks led to modest spending effects and small revisions to expectations regarding future … bequests. Expectations of bequests seem particularly tied to housing wealth. …

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 …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

This paper compares the main findings from the third wave of the Household Finance and Consumption Survey (HFCS) for … of homeownership in Malta, the median net wealth in Malta was estimated to be significantly higher than in the euro area …

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 …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …