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 … do not impose any model structure on the consumption process. This suggests that Italian households do not have access to …

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate …, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country's saving rate …, implies transitional dynamics of the saving rate that accords well with empirical evidence. This holds true even in a growth …

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate …, when reasonably calibrated. Ample empirical evidence, however, shows that the transition paths of most countries' saving …-shaped pattern of the saving rate (Goméz, 2008). However, the implied magnitude of the hump falls short of what is seen in empirical …

This paper compares the main findings from the fourth wave of the Household Finance and Consumption Survey (HFCS) for …

This paper compares the main findings from the third wave of the Household Finance and Consumption Survey (HFCS) for …

We specify and estimate a lifecycle model of consumption, housing demand and labor supply in an environment where …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic …

This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty … aversion and relative prudence, and relative preference of environmental quality. -- Consumption ; Precautionary Saving … financial and environmental risks affect consumption. Moreover, we suggest a solution to some shortcomings which concern the …