Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that …

English couple households born in the 1940s. Here, 'optimal' wealth holdings are those that allow households to enjoy the same … calculate this level of wealth, and compare that with how much wealth households are observed to hold. We find that the majority … of households hold more wealth than our model suggests is optimal and that this would still be true even if housing …

simultaneously accounting for wealth accumulation during working period, wealth decumulation during retirement, and labor supply … studies that focus only on wealth accumulation or decumulation. We calibrate our model using several micro datasets and use … the estimated model to evaluate the contribution of life-cycle, bequest, and precautionary motives to total savings. We …

savings while a decreased variation in earnings decrease saving. Not accounting for the effect on expected earnings on saving …

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 …

for and control over the accumulation and use of savings for retirement. …

the rising trends in wealth-to-income ratios, housing wealth, and wealth inequality, that have been documented in most …