contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … 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 …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … 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. The …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information …

impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the …

This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth …, increases the current consumption-wealth ratio. From the model, an aggregate long-run relationship is derived between … consumption, total wealth and financial liberalization which is estimated by state space methods using quarterly US data. The …

This paper examines the effects of changes in uncertainty of household income on the macroeconomy. Households face …, where changes in precautionary savings due to time-varying uncertainty depress aggregate activity. With countercyclical … markups through sticky prices, increased precautionary savings lower aggregate demand and generate significant output losses …

households. Using data from the Bank of Italy's Survey on Household Income and Wealth covering the financial crisis, we are able … both 2008-2010 and 2010-2012 spells. The most important smoothing mechanisms turn out to be self‐insurance through savings … separately. We find that Italian households were able to smooth on average about 85% of shocks to household head's earnings in …

lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with …In 2000 Italy replaced its traditional system of severance pay for public employees with a new system. Under the old … and increases the wealth-income ratio by 0.32. The response is stronger for younger workers and for households where both …

-quarter of total household wealth in Europe provides further corroboration for this finding. …In this paper, we analyze the saving motives of European households using micro-data from the Household Finance and … Consumption Survey (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives …