Fig. 4.

Average marginal propensity to consume across income and wealth. Note: The figures show binned scatter plots of the pooled data. Each dot represents about 4.2 million households and is calculated based on about 1930 observations (on average). The net wealth and gross income distributions are cdfs constructed on the pooled data. Residualized plots control for country dummies, household size, age of the reference person based on 15 categories and a dummy variable indicating that at least one person living in the household is 65 years or older, as well as income in the case of wealth and wealth in the case of income.

HFCS 2017.