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Heterogeneity and persistence in returns to wealth
Fagereng, Andreas; Guiso, Luigi; Malacrino, Davide; … - 2018 - This version: May 2018
(a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation … differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial … implications of these findings for several strands of the wealth inequality debate. …
Persistent link: https://www.econbiz.de/10011864456
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MPC heterogeneity and household balance sheets
Fagereng, Andreas; Holm, Martin Blomhoff; Natvik, Gisle … - 2018
We use sizeable lottery prizes in Norwegian administrative panel data to characterize households' marginal propensities to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and how lottery prizes are spent and saved over time. We...
Persistent link: https://www.econbiz.de/10011872933
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Subjective uncertainty and the marginal propensity to consume
Kosar, Gizem; Melcangi, Davide - 2025
uncertainty. In the workhorse consumption–savings model, augmented with risk heterogeneity, MPCs decline with earnings uncertainty …
Persistent link: https://www.econbiz.de/10015371804
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Status, control, and risk : how relative wealth perceptions shape risk-taking
Fehr, Dietmar; Reichlin, Yannick - 2025 - This Version: June 2025
We embed an experiment in a large-scale representative survey to investigate how relative wealth affects risk-taking and how this effect varies as a function of perceived control over life outcomes. Our results contest the common prediction of higher risk-taking in the middle of the...
Persistent link: https://www.econbiz.de/10015409570
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Inherited wealth and demographic aging
Onder, Harun; Pestieau, Pierre - 2016
The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the first attempts to shed light on how demographic aging could shape this role. We show that, in the absence of retirement annuities, or for a given level of annuitization, both...
Persistent link: https://www.econbiz.de/10011499894
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Income and wealth shocks and expectations during the COVID-19 pandemic
Hanspal, Tobin; Weber, Annika; Wohlfart, Johannes - 2020
In early April 2020 we conducted a survey on a representative sample of more than 8,000 US households to study the effect of the coronavirus crisis on household income and retirement wealth, households’ expectations about the recovery, and the impact of the shock on individuals’ economic...
Persistent link: https://www.econbiz.de/10012206687
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The saving glut of the rich and the rise in household debt
Mian, Atif; Straub, Ludwig; Sufi, Amir - 2020
Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top …
Persistent link: https://www.econbiz.de/10012197559
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Indebted demand
Mian, Atif; Straub, Ludwig; Sufi, Amir - 2020
a two-agent overlapping-generations model, we find that recent trends in income inequality and financial liberalization … those reducing the structural sources of high inequality. …
Persistent link: https://www.econbiz.de/10012199991
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Modigliani meets minsky : inequality, debt, and financial fragility in America, 1950-2016
Bartscher, Alina K.; Kuhn, Moritz; Schularick, Moritz; … - 2020
This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and …
Persistent link: https://www.econbiz.de/10012213102
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The college wealth divide : education and inequality in America, 1956-2016
Bartscher, Alina K.; Kuhn, Moritz; Schularick, Moritz - 2019
financial literacy and business ownership for the increase in wealth inequality between college and non-college households. …
Persistent link: https://www.econbiz.de/10012031017