In an extended variant of the life-cycle hypothesis, saving behaviour is shown to depend crucially on the interaction between two preference parameters : γ, which represents risk attitudes (aversion, prudence…), and δ, the rate of time depreciation. Hence, the predictions of four specific...

This article aims at linking the household wealth and income distributions for 15 European countries using the Household Finance and Consumption Survey. We study the role played by the household’s location in the income distributions in determining its location in the wealth distribution. A...

Using the first wave of the Eurosystem Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households’ balance sheets in 15 euro area countries, this paper explores how households allocate their assets. We derive stylised facts on asset participation as well as...

This paper studies the heterogeneity of the marginal propensity to consume out of wealth using French household surveys. We find decreasing marginal propensity to consume out of wealth across the wealth distribution for all net wealth components. The marginal propensity to consume out of...

[fre] En France, l'influence des comportements patrimoniaux des parents sur ceux de leurs enfants a souvent été mise en évidence. Comment expliquer alors ce poids d'Anchise ? Dans cet article, nous utilisons une enquête originale française et unique initiée par le Delta et TNS-Sofres en...

La crise a-t-elle rendu l'épargnant plus prudent ? Ce dernier a-t-il aujourd'hui " encore " moins d'appétence pour le risque qu'hier ? Et, si oui, faut-il s'en inquiéter, certains faisant déjà le constat d'un manque d'initiative et d'entreprise dans notre pays avec des épargnants...