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Discussion Paper
A Wealthless Recovery? Asset Ownership and the Uneven Recovery from the Great Recession
Data from the Federal Reserve Board's Survey of Consumer Finances indicate that although total household wealth has fully recovered from the Great Recession, there has been only modest growth for the vast majority of families since 2010, and most families have not recovered to pre-recession wealth levels. This uneven recovery is explained by declines in home and stock ownership, which have shown little signs of reversing; thus, these disparities appear poised to persist.
Journal Article
Changes in U.S. Family Finances from 2016 to 2019: Evidence from the Survey of Consumer Finances
The Federal Reserve Board’s Survey of Consumer Finances for 2019 provides insights into the evolution of family income and net worth since the previous time the survey was conducted in 2016. The survey shows that over the 2016–19 period, the median value of real (inflation-adjusted) family income before taxes rose 5 percent, and mean income decreased 3 percent. Real median net worth increased 18 percent, and mean net worth rose 2 percent. This survey marks the first in the aftermath of the Great Recession in which between-survey changes in the median outpaced changes in the mean for ...
Journal Article
Changes in U.S. Family Finances from 2013 to 2016: Evidence from the Survey of Consumer Finances
Evidence from the Survey of Consumer Finances The Federal Reserve Board's Survey of Consumer Finances for 2016 provides insights into the evolution of family income and net worth since the previous time the survey was conducted, in 2013. The survey shows that, over the 2013-16 period, the median value of real (inflation-adjusted) family income before taxes rose 10 percent, and mean income increased 14 percent. Real median net worth increased 16 percent, and mean net worth increased 26 percent. The data also indicate that gains in income and net worth are broad based, occurring across many ...
Discussion Paper
Recent Trends in Wealth-Holding by Race and Ethnicity : Evidence from the Survey of Consumer Finances
Data from the newly released 2016 Survey of Consumer Finances show wealth has grown for families across race and ethnicity groups since 2013, but substantial disparities between groups persist.
Discussion Paper
Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
New data from the 2019 Survey of Consumer Finances (SCF) show that long-standing and substantial wealth disparities between families in different racial and ethnic groups were little changed since the last survey in 2016; the typical White family has eight times the wealth of the typical Black family and five times the wealth of the typical Hispanic family.
Working Paper
Broadband in the labor market: The impact of residential high speed internet on married women's labor force participation
This paper investigates how high-speed home Internet has impacted married women's labor force participation. I estimate the net effect of individual Internet usage on labor supply using an instrumental variables strategy which exploits cross-state variation in supply-side constraints to residential broadband Internet access. Results indicate that married women who use the Internet are more likely to participate in the labor force. The average effects mask substantial heterogeneity and increases in participation are concentrated on women with higher levels of education and children. The ...