The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

We argue that the U.S. personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … recent substantial rise (2008-2011) can be interpreted using a parsimonious 'buffer stock' model of consumption in the … presence of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between 'target' and …

We argue that the US personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … recent substantial rise (2008-2011) can be interpreted using a parsimonious buffer stock model of consumption in the presence … of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between target and actual …

lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with …

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 …

This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth … where financial liberalization, by signalling a future reduction in the incomplete markets component of consumption growth …, increases the current consumption-wealth ratio. From the model, an aggregate long-run relationship is derived between …

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 …

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 …

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 … do not impose any model structure on the consumption process. This suggests that Italian households do not have access to …

intentionally simple lab experiment on intertemporal spending and saving decisions with 180 students. Under a positive discount …