• 1. Introduction
  • 2. Deriving testable implications of buffer stock behavior
  • 2.1. Test interpretation
  • 2.2. The simulated covariance ratio
  • 3. Data
  • 4. Testing the buffer stock model
  • 4.1. Baseline estimates
  • 4.2. Group estimates
  • 4.3. Impatience
  • 4.4. Measurement error
  • 4.5. Further sensitivity checks
  • 5. The wealth-income ratio of young households
  • 6. Conclusions
  • References
  • Appendix