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Working Paper
Saving and permanent income: evidence from the 1992 SCF
Journal Article
Recent changes in U. S. family finances: results from the 1998 Survey of Consumer Finances
Using data from the Federal Reserve Board's two most recent Surveys of Consumer Finances, this article provides a detailed picture of changes in the financial condition of U.S. families between 1995 and 1998. The financial situation of families changed notably in the three-year period. While income continued a moderate upward trend, net worth grew strongly, and the increase in net worth was broadly shared by different demographic groups. A booming stock market accounts for a substantial part of the rise in net worth, but the data also suggest that improvements in financial circumstances ...
Discussion Paper
Forecasting money demand with econometric models
Working Paper
Banking market definition: evidence from the Survey of Consumer Finances
This paper uses data from the triennial waves of the Survey of Consumer Finances from 1992 to 2004 to examine changes in the use of financial services with implications for the definition of banking markets. Despite powerful technological and regulatory shifts over this period, households' banking markets overall remained largely local--the median distance to a provider of financial services remained under four miles. However, there has been rapid growth in the use of non-depository financial institutions over the period, particularly non-local ones. This increase occurred across a wide ...
Working Paper
Who uses electronic banking?
This study uses the 1995 Survey of Consumer Finances to examine households' use of technologies, including electronic means, to carry out transactions at a financial institution and to gain information for making saving and borrowing decisions. Household use of various technologies is correlated with household income, financial assets, age, and years of education. Results suggest that relatively new electronic technologies are used by relatively few households, and that household use of electronic sources of information for financial decisionmaking is barely off the ground.
Journal Article
Recent changes in U.S. family finances: evidence from the 1998 and 2001 Survey of Consumer Finances
Data from the Federal Reserve Board's Survey of Consumer Finances show a striking pattern of growth in family income and net worth between 1998 and 2001. Inflation-adjusted incomes of families rose broadly, although growth was fastest among the group of families whose income was higher than the median. The median value of family net worth grew faster than that of income, but as with income, the growth rates of net worth were fastest for groups above the median. The years between 1998 and 2001 also saw a rise in the proportion of families that own corporate equities either directly or ...