Search Results

SORT BY: PREVIOUS / NEXT
Keywords:wealth 

Wealth and Its Distribution: A Look at Asian American Households in 2022

Asian Americans typically had more wealth than other racial or ethnic groups, and that wealth was spread across a diverse range of financial and nonfinancial assets.
On the Economy

Working Paper
Heterogeneous Agents Dynamic Spatial General Equilibrium

I develop a dynamic model of migration and labor market choice with incomplete markets and uninsurable income risk to quantify the effects of international trade on workers’ employment reallocation, earnings, and wealth. Macroeconomic conditions in different labor markets and idiosyncratic shocks shape agents’ labor market choices, consumption, earnings, and asset accumulation over time. Despite the rich heterogeneity, the model is highly tractable as the optimal consumption, labor supply, capital accumulation, and migration and reallocation decisions of individual workers across ...
Working Papers , Paper 2023-005

Working Paper
Changes in the Distribution of After-Tax Wealth: Has Income Tax Policy Increased Wealth Inequality?

A substantial share of the wealth of Americans is held in tax-deferred form such as in retirement accounts or as unrealized capital gains. Most data and statistics on assets and wealth is reported on a pre-tax basis, but pre-tax values include an implicit tax liability and may not provide as accurate a measure of the financial position or material well-being of families. In this paper, we describe the distribution of tax-deferred assets in the SCF from 1989 to 2013, provide new estimates of the income tax liabilities implicit in those assets, and present new statistics on the level and ...
Finance and Economics Discussion Series , Paper 2015-58

Working Paper
The geography of wealth: shocks, mobility, and precautionary savings

The spatial distribution of wealth in the United States is very heterogeneous, with important differences within and across US states. We study the distribution of wealth in a country and how it is shaped by the characteristics earnings across regions, and by the frictions individuals face to move and reallocate across space. For this, we develop a tractable model of consumption, savings, and location choice with many regions, incomplete markets, and heterogeneous agents facing persistent and transitory income shocks. Our analysis focuses on the role of income shocks, precautionary savings, ...
Working Papers , Paper 2024-033

Journal Article
Pandemic-Era Liquid Wealth Is Running Dry

Households accumulated more liquid assets beginning in 2020 than would have been expected without the pandemic. These “extra” liquid assets have dissipated, but their evolution has differed significantly by income group. While middle- and lower-income households hold substantially less liquid wealth than implied by pre-pandemic projections, the level for higher-income households remains close to its pre-pandemic path. Over the same period, credit card delinquency rates initially dropped and, more recently, have steadily risen as pandemic-era liquid wealth was depleted, especially for ...
FRBSF Economic Letter , Volume 2024 , Issue 21 , Pages 6

Millennials and Older Gen Zers Made Significant Wealth Gains in 2022

The wealth of U.S. millennials and older Gen Zers grew at an unusually fast pace from 2019 to 2022, with real estate gains driving overall asset growth.
On the Economy

Single Mothers Face Difficulties with Slim Financial Cushions

During the COVID-19 recession, single mothers faced high unemployment and were more likely to exit the labor force than single fathers and women without children.
On the Economy

New Analysis Finds LGBTQ+ Households Trail in Income and Wealth

New research finds LGBTQ+ households lag non-LGBTQ+ households in income and median wealth and are less likely to be homeowners.
On the Economy

Discussion Paper
Wealth Inequality by Age in the Post‑Pandemic Era

Following our post on racial and ethnic wealth gaps, here we turn to the distribution of wealth across age groups, focusing on how the picture has changed since the beginning of the pandemic. As of 2019, individuals under 40 years old held just 4.9 percent of total U.S. wealth despite comprising 37 percent of the adult population. Conversely, individuals over age 54 made up a similar share of the population and held 71.6 percent of total wealth. Since 2019, we find a slight narrowing of these wealth disparities across age groups, likely driven by expanded ownership of financial assets among ...
Liberty Street Economics , Paper 2024027b

Newsletter
Neighborhood Redlining, Racial Segregation, and Homeownership

Redlining was the practice of selectively classifying neighborhoods as most likely to default on repayment of a mortgage loan. Houses in redlined neighborhoods held little value as collateral, and lenders would only offer mortgage loans for these houses at above-average interest rates. Over time, these neighborhoods had the largest concentrations of African Americans. The September 2021 issue of Page One Economics explains how residents in redlined neighborhoods could not afford to become homeowners and accumulate wealth at the rates other groups did. It also points out how only when the ...
Page One Economics Newsletter

FILTER BY year

FILTER BY Content Type

Working Paper 5 items

Journal Article 4 items

Discussion Paper 3 items

Newsletter 2 items

Briefing 1 items

Report 1 items

show more (1)

FILTER BY Author

FILTER BY Jel Classification

E21 4 items

D63 3 items

F16 3 items

J61 3 items

R23 3 items

G1 2 items

show more (19)

FILTER BY Keywords

PREVIOUS / NEXT