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 …

generates saving dynamics such that the stationary distribution of wealth among households facing different risk levels is not … labor income risk. Otherwise, the effects of income risk are masked by wealth effects. In neither case, the MPC depends on …Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels …

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

analyzed empirically using micro data from the German Socio-Economic Panel Study (GSOEP). Wealth in 2002 is regressed on … alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is … also taken into account. When using net financial wealth, precautionary saving is statistically significant and …

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 …