Working Paper
Household's Balance Sheets and the Effect of Fiscal Policy
Andres, Javier; Bosca, Jose E.; Ferri, Javier; Fuentes-Albero, Cristina (2020-06-29)
Using households' balance sheet composition in the Panel Survey of Income Dynamics, we identify six household types. Since 1999, there has been a decline in the share of patient households and an increase in the share of impatient households with negative wealth. Using a six-agent New Keynesian model with search and matching frictions, we explore how changes in households' shares affect the transmission of government spending shocks. We show that the relative share of households in the left tail of the wealth distribution plays a key role in the aggregate marginal propensity to consume, the ...
Finance and Economics Discussion Series , Paper 2018-012r1

Report
President's Message: The St. Louis Fed's New Center for Household Financial Stability
Bullard, James B. (2012)
President James Bullard announces the St. Louis Fed's new Center for Household Financial Stability. This year's annual report features some of the Center's research.
Annual Report

Journal Article
Assets and Liabilities of Younger vs. Older Households
Chiang, Yu-Ting; Dueholm, Mick (2023-02-02)
The balance sheets of US households have changed over the past seven decades, overall and for different age groups.
Economic Synopses , Issue 2 , Pages 3 [pages

Speech
Remarks at the Economic Press Briefing on Homeownership and Housing Wealth, Federal Reserve Bank of New York, New York City
Hirtle, Beverly (2018-05-17)
Remarks at the Economic Press Briefing on Homeownership and Housing Wealth, Federal Reserve Bank of New York, New York City.
Speech , Paper 286

Working Paper
Household's Balance Sheets and the Effect of Fiscal Policy
Andres, Javier; Bosca, Jose E.; Ferri, Javier; Fuentes-Albero, Cristina (2018-02-08)
Using the Panel Survey of Income Dynamics, we identify six household types as a function of their balance sheet composition. Since 1999, there has been a decline in the share of patient households and an increase in the share of impatient households with negative wealth. Using a DSGE model with search and matching frictions, we explore how changes in the distribution of households affect the transmission of government spending shocks. We show that the relative share of households in the left tail of the wealth distribution plays a key role in the aggregate marginal propensity to consume, the ...
Finance and Economics Discussion Series , Paper 2018-012