This paper investigates why high income households in the United States save on average more than low income households …

families changed notably in the three-year period. While income continued a moderate upward trend, net worth grew strongly, and … with 1995, debt repayments in 1998 accounted for a larger share of the income of the typical family with debt, and the …

We consider an environment in which individuals receive income shocks that are unobservable to others and can privately …

Data from the Federal Reserve Board's Survey of Consumer Finances show a striking pattern of growth in family income … among the group of families whose income was higher than the median. The median value of family net worth grew faster than … that of income, but as with income, the growth rates of net worth were fastest for groups above the median. The years …