This paper uses new data on Swedish national wealth over a period of two hundred years to study whether the patterns in … wealth-income ratios previously found by Piketty and Zucman (2014) for some very rich and large Western economies extend to … lower wealth levels than the rest of Europe, and the main explanation is that the Swedes were too poor to save their income …

Using harmonized wealth data and a novel decomposition approach, we show that cohort effects exist in the income …

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs …. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a … relatively constant ratio of investment assets to wealth from year to year. However, some households may fail to rebalance, or …

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs …. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a … relatively constant ratio or investment assets to wealth from year to year. However, some households may fail to rebalance, or …

investments. While households typically have undiversified equity portfolios, diversification is increasing in wealth …

We test whether relative risk aversion varies with wealth using the Panel Study of Income Dynamics data in the U.S. Our … analytical results indicate the following implications. For each household, there are two channels through which the risky share … responds to wealth fluctuations, the income channel and the habit channel. For across households, there are heterogeneous …