This paper studies the effect of a change in real estate wealth on the consumption behaviour of Italian households, using the Bank of Italy's Survey of Household Income and Wealth dataset. We relate annual household consumption to capital gains in housing, controlling for characteristics such as...

We study the effect on savings of an increase in the capital risk of the investment opportunities when the representative consumer is allowed to optimally choose her portfolio. Sandmo (1970) and Levhari and Srinivasan (1969) prove that individuals with high risk-aversion and time-separable,...

Our paper analyses the observed and desired labour supply by older workers and (recent) retirees in a country (Italy) with limited opportunities for flexible work schedules. To this purpose, we use a dataset drawn from the Bank of Italy's Survey on Household Income and Wealth providing...

Our paper analyses the observed and desired labour supply by older workers and (recent) retirees in a country (Italy) with limited opportunities for flexible work schedules. To this purpose, we use a dataset drawn from the Bank of Italy’s Survey on Household Income and Wealth providing...