We test whether relative risk aversion varies with wealth using the Panel Study of Income Dynamics data in the U.S. Our … responds to wealth fluctuations, the income channel and the habit channel. For across households, there are heterogeneous … responses, and to provide strong evidence of relative risk aversion varying with wealth, after correcting two misspecification …

known about relative wealth accumulation and the preparation of immigrants for retirement. This paper compares the … available resources. We find that immigrants have less wealth overall, but that they appear to be drawing down resources at a … slower rate. We attempt to make sense of the trends in annualized wealth with the help of a lifecycle framework that …

estimate the present value of future income streams in calculating measures of comprehensive wealth and an annualized … equivalent. In addition to some significant differences in median annualized wealth between immigrants and natives, the authors … cohorts were at similar ages. With a decomposition analysis, the authors estimate how much of the immigrant-native wealth gap …

The paper discusses the impact of longevity extension on aggregate wealth accumulation, accounting for changes in …-sensitive preferences. Human impatience is then closely related to mortality rates and aggregate wealth accumulation appears to be much more …

The paper discusses the impact of longevity extension on aggregate wealth accumulation, accounting for changes in …-sensitive preferences. Human impatience is then closely related to mortality rates and aggregate wealth accumulation appears to be much more …

dining together with family, is associated with better financial preparedness and greater wealth accumulation across time … their family, increased wealth at a faster rate than others between 1994 and 2004. Moreover, those who exhibited self …. Consistent with other studies, results indicate that wealth accumulation increased with age, income, and educational attainment …

is a key determinant of wealth inequality. The mechanism we posit is that financial knowledge enables individuals to … wealth over the life cycle. According to our estimates, from 30 to 40 percent of wealth inequality can be accounted for by …

The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the … share of total wealth in a given economy. Thus, aging is not likely to explain a recent surge in this share in some advanced …

This paper investigates the channels through which saving flows impact the dynamics of wealth inequality. The analysis … net worth brackets have conflicting effects on wealth inequality. As a result, saving rate heterogeneity is measured to … have a strong impact on social mobility but only a weak impact on the distribution of net worth. Heterogeneity in wealth …

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … 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 …