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

among the wealthy, while owner-occupied housing is crucial for middle groups, so higher stock prices raise wealth inequality … while house price increases do the opposite. Inheritances exacerbate absolute wealth inequality but reduce rel …-ative inequality. Wealth inequality declined in advanced Western countries during the first half of the 20th century, then stabilized …

alternative systems focuses on their effects on savings, capital accumulation, labour supply, economic growth and inequality and …

among the wealthy, while owner-occupied housing is crucial for middle groups, so higher stock prices raise wealth inequality … while house price increases do the opposite. Inheritances exacerbate absolute wealth inequality but reduce relative … inequality. Wealth inequality declined in advanced Western countries during the first half of the 20th century, then stabilized …

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 …

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 …

Preferences over wealth can explain why households do not spend more when real interest rates fall, because they save … more than optimal under a standard model. However, little is known about preferences over wealth empirically. We run an … wealth, consistent with wealth entering the utility function directly. …

If Piketty's main theoretical prediction (r>g leads to rising wealth inequality) is taken to its radical conclusion … transitional phase of increasing wealth inequality, which characterizes the current state of high-income countries: The wealth … share of capitalists rises to over 60%, the wealth-to-income ratio increases, and income inequality rises. Finally, we show …

therefore, increases wealth inequality …-ownership, consumption pattern in the cross- section and through life-cycle. We find that the lack of stock market access, proxied by a fixed … entry cost and variable costs, plays a key role in generating heterogeneous outcome in agent’s wealth accumulation, and …