th equal to $94,310. These spending measures represent a substantial fraction of liquid wealth for decedents. Total out …-of-pocket expenditures are strongly positively related to wealth and weakly related to income. We find evidence for a mechanism by which … wealth could plausibly buy health: large expenditures on home modifications, helpers, home health care, and higher …

th equal to $94,310. These spending measures represent a substantial fraction of liquid wealth for decedents. Total out …-of-pocket expenditures are strongly positively related to wealth and weakly related to income. We find evidence for a mechanism by which … wealth could plausibly buy health: large expenditures on home modifications, helpers, home health care, and higher …

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. …

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 …