households. Using data from the Bank of Italy's Survey on Household Income and Wealth covering the financial crisis, we are able … separately. We find that Italian households were able to smooth on average about 85% of shocks to household head's earnings in …/dissavings (40% and 47% in 2008-2010 and 2010-2012, respectively), and within‐household risk‐sharing (16% and 14%). Interestingly …

-purchase time are determined simultaneously. We use this model to explore the relationship between a household's cereal purchases … are heavily censored at zero. The traditional approach for working with such data in demand estimation usually involves …

or more of their income. On average, every household saved a good 17 percent of their income in 2013. …