Jappelli, Tullio <br/><br/>
Permanent Income Shocks, Target Wealth, and the Wealth Gap 

 -  American Economic Journal: Macroeconomics  2025 
 - 102-125 
<br/><br/> We test the key implication of the buffer-stock model, namely that any revision in permanent income leads to a proportionate revision in target wealth. We use panel data on the amount of wealth that people think they must hold for precautionary purposes.  
<br/><br/><label>ISSN: </label>1945-7707 
<br/><br/><label>Subjects--Topical Terms: </label><br/> Consumption<br/> Household Finance<br/> Household Saving<br/> Life Cycle Models<br/>Macroeconomics