This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth …, increases the current consumption-wealth ratio. From the model, an aggregate long-run relationship is derived between … consumption, total wealth and financial liberalization which is estimated by state space methods using quarterly US data. The …

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

We provide evidence that the distributions of consumption, labor income, wealth, and capital income exhibit asymptotic … magnitudes of these four tails simultaneously. Mechanisms addressing the wealth concentration puzzle in these models through … return heterogeneity lead to a mirror consumption concentration puzzle. We match the cross-sectional data on these four …