Our paper analyses the observed and desired labour supply by older workers and (recent) retirees in a country (Italy) with limited opportunities for flexible work schedules. To this purpose, we use a dataset drawn from the Bank of Italy’s Survey on Household Income and Wealth providing...

We examine whether Italian household consumption exhibits excess sensitivity to "severance pay", a sizable lump-sum that workers receive at job termination. We find no evidence of excess sensitivity of non-durable expenditure to this anticipated cash-in-hand change.

This paper is centered on the complementary roles played by pension communication/information and financial literacy for a sustainable and equitable nonfinancial defined contribution (NDC) system at both the micro and macro socioeconomic level. The paper presents new evidence on: (i) the concern...

We use household panel data to explore the link between transitions of a household member (not only the wife) into the workforce and negative income shocks (unemployment and/or income support) suffered by another household member. We take the case of Italy where family ties other than spousal...

The high volatility observed in financial markets during the last crisis prompted renewed interest in designing truly diversified portfolios. One of the most interesting approach proposed by recent literature is the Equally-weighted Risk Contribution strategy (Maillard et al., 2009), usually...

This paper deals with the importance of liquidity constraints in shaping one of the main consumption and investment choices house- holds make in their life: the purchase of a house. When borrowing and lending rates dier from each other and from the implicit rate of interest paid by real estate,...