on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … have access only to a risk‐free asset compared to when we account for the fact that much of their wealth is stored in …

English couple households born in the 1940s. Here, 'optimal' wealth holdings are those that allow households to enjoy the same … calculate this level of wealth, and compare that with how much wealth households are observed to hold. We find that the majority … of households hold more wealth than our model suggests is optimal and that this would still be true even if housing …

effect of wealth shocks on household consumption and individual expectations of the future. Many household experienced a … significant wealth shocks, but these shocks led to modest spending effects and small revisions to expectations regarding future … bequests. Expectations of bequests seem particularly tied to housing wealth. …

utility to differ between households with and without offspring. Our estimates imply a very strong utility of residual wealth …-quarters of aggregate wealth at age 85. More surprisingly, we estimate similar utility of residual wealth for households with and … without offspring. We interpret this as, prima facie, evidence that the utility of residual wealth represents forces beyond an …

In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data … from the "Survey of Italian Households' Income and Wealth," a panel survey of households conducted every two years by the … Bank of Italy. We find that, on average, the retired elderly in Italy are decumulating their wealth (dissaving) but that …

strategic default. Wealth data suggest a limited scope for strategic default, with only one-third of underwater defaulters …

We examine the relationship between household wealth and self-control. Although self-control has been linked to … standard representative survey. We find that self-control failure is strongly associated with different household net wealth …

elasticity of risk aversion to changes in wealth. We find that wealthier investors are more risk averse in the cross section, and … that investors become more risk averse after a negative housing wealth shock. Thus, investors exhibit preferences …

In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data … from the “Survey of Italian Households' Income and Wealth,” a panel survey of households conducted every two years by the … Bank of Italy. We find that, on average, the retired elderly in Italy are decumulating their wealth (dissaving) but that …