Economists make extensive use of two separate descriptions of private saving behavior: the life-cycle (or overlapping generations) model, and models with intergenerational altruism. Analysis of the two frameworks is quite different, as are many of the long-run policy implications. This paper...

This paper deals with methodological issues that arise in measuring household wealth. Two prominent American household surveys--the PSID and SCF--rely on different methodological approaches to the measurement of household wealth. In particular, SCF oversamples high-income households and has a...

In this paper, we evaluate two survey innovations aimed at improving income measurement. These innovations are (1) integrating the question sequences for income and wealth which may elicit more accurate estimates of income from capital than has been true in the past, and (2) changes in the...