“...This paper examines the time‐series and micro‐econometric evidence on the relationship between stock and house prices and consumer spending. The time‐series...”

“...This article proposes a test for the cost-based explanation of nonparticipation, by estimating a lower bound to the forgone gains of incomplete portfolios;...”

“...This paper exploits a recent reform of private pension schemes in Italy to identify the impact on household saving of tax-favored retirement saving plans. The...”

“...This paper presents empirical evidence that accounting for heterogeneity in financial market participation is important for evaluating the empirical...”

“...I use subjective expectations data on future asset returns from the Italian Survey of Household Income and Wealth to validate widely used financial literacy...”