This chapter surveys the literature on housing in macroeconomics. We first collect facts on
house prices and quantities in both the time series and the cross section of households and …

Why are some people wealthy while others are poor? To what extent can governments affect
inequality? Which instruments should they use? Answering these questions requires …

Abstract The Health and Retirement Study (HRS) is a nationally representative longitudinal
survey of more than 37 000 individuals over age 50 in 23 000 households in the USA. The …

This paper undertakes an assessment of a rapidly growing body of economic research on
financial literacy. We start with an overview of theoretical research, which casts financial …

We show that financial knowledge is a key determinant of wealth inequality in a stochastic
life cycle model with endogenous financial knowledge accumulation, where financial …

The problem of high savings and low consumption of Chinese rural households has long
been a source of concern. The popularity of mobile payments may help alleviate this …

The goal of this chapter is to study how, and by how much, household income, wealth, and
preference heterogeneity amplify and propagate a macroeconomic shock. We focus on the …

We use sizable lottery prizes in Norwegian administrative panel data to explore how
transitory income shocks are spent and saved over time and how households' marginal …

We estimate a dynamic life cycle model of labor supply, fertility, and savings, incorporating
occupational choices, with specific wage paths and skill atrophy that vary over the career …

This paper constructs a model of saving for retired single people that includes heterogeneity
in medical expenses and life expectancies, and bequest motives. We estimate the model …