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 …

This paper assesses the quantitative importance of a number of sources of income risk for household welfare and … precautionary saving. To that end I construct a lifecycle consumption model in which household income is subject to shocks … associated with disability, health, unemployment, job changes, wages, work hours, and a residual component of household income. I …

growing and concentrating disproportionately among the nonwhite population. As the cost of living outpaces income and wealth …