Evidence of liquidity constraints affecting entrepreneurship includes increasing rates of business formation with increases in household wealth and no relationship between the likelihood of business formation and wealth at high wealth levels. Using longitudinal data from the Health and...

The objective of the work reported in this paper is to find if the consumption data from the six waves of the Retirement History Survey are consistent with the life cycle hypothesis of consumption and to test the importance of a bequest motive for saving. The 12 data items which are used cover...