Micro and Macro Implications of Household Behaviour and Financial Decision-Making is a new cross-disciplinary seminar series covering research at the intersection of household finance, macro and labour economics. It represents a collaboration between universities and research networks and centres.
Seminars are held on Zoom each month and will run for 90 minutes including a discussion panel.

Our fifth meeting will be on Friday 22nd October from 3:30pm-5:00pm BST and will feature will feature Atif Mian (Princeton) presenting The Saving Glut of the Rich (with Ludwig Straub (Harvard) and Amir Sufi (Chicago Booth)). Discussion by Stefania Albanesi (University of Pittsburgh and CEPR) and Luigi Pistaferri (Stanford and CEPR) .

Registration Link:

Organisers: Richard Blundell, Michael Haliassos, Christopher Hansman, Yigitcan Karabulut, Peter Levell, Benjamin Moll, Tarun Ramadorai, and Polly Simpson.
Abstract: There has been a large rise in savings by Americans in the top 1% of the income or wealth distribution over the past 40 years, which we call the saving glut of the rich. Instead of financing investment, this saving glut has been associated with dissaving by the non-rich and dissaving by the government. An unveiling of the financial sector reveals that rich households have accumulated substantial financial assets that are direct claims on U.S. government and household debt. State-level analysis shows that the rise in top income shares has been important in generating the rise in savings by the rich.