We measure the extent of consumption insurance to income shocks accounting for high-order moments of the income … distribution. We derive a nonlinear consumption function, in which the extent of insurance varies with the sign and magnitude of … negative shock transmits to consumption compared to 9% of an equal-sized positive shock – and the pass-through increases as the …

. Fifth, we find evidences that housing prices shock decreases consumption inequality while financial wealth shocks have a … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within …

to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and … of large prizes (USD 8,300-150,000) is slightly below one half. While the consumption responses we find are high, their … systematic relations with observables point toward well-understood mechanisms from existing theory and should be useful to …

Using a lifecycle model of consumption, saving and portfolio choice combined with linked survey and administrative data … on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure …

In this paper we analyse the importance of precautionary saving in Italy. In contrast to previous studies, we focus on …

We use panel data from the Italian Survey of Household Income and Wealth from 1991 to 2016 to document empirically what … components, modest changes in consumption expenditures, and large changes in wealth. We then split the sample in households which … do not own business or real estate wealth, and households who do. For the first group, we find that consumption responses …

The results from the second wave of the Eurosysystem's Household Finance and Consumption Survey (HFCS) indicate that …/2014. However, despite their worsening financial situation households largely maintained their relatively high level of consumption …

This paper presents a novel estimate of the Indian household balance sheet (HBS) starting from 1970/71 to 2017/18 and … studies the evolution of Indian household finance in an international context. Comparative analysis suggests that the Global … Wealth Databook (an annual publication of Credit Suisse Research Institute), has been significantly underestimating both the …