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Report
Report on the Economic Well-Being of U.S. Households in 2014
As the economy of the United States continues to rebound from the Great Recession, the well-being of households and consumers provides important information about the scope and pace of the economic recovery. In order to monitor the financial and economic status of American consumers, the Federal Reserve Board began conducting the Survey of Household Economics and Decision making in 2013 and conducted the survey for a second time in October 2014. The findings from the October 2014 survey are covered in this report. Topics examined in the survey include the financial health of individuals on a ...
Report
Consumers and Mobile Finance Services 2016
Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. The survey examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions. This report presents findings from the 2014 survey, fielded in December, which focused ...
Working Paper
How House Price Dynamics and Credit Constraints affect the Equity Extraction of Senior Homeowners
Households can borrow against equity through different channels, including home equity lines of credit (HELOCs), second liens, cash-out refinancing, and--for senior homeowners--reverse mortgages. We use data from the New York Federal Reserve/Equifax Consumer Credit Panel, the U.S. Department of Housing and Urban Development, and other sources to jointly estimate the decision to extract equity through these different channels. Specifically, we identify the influence of credit constraints, house price dynamics and their interactions on the proportion of seniors in a ZIP code extracting through ...
Report
Report on the Economic Well-Being of U.S. Households in 2015
In order to monitor the financial and economic status of American consumers, the Federal Reserve Board conducted the third annual Survey of Household Economics and Decisionmaking in October and November 2015. This survey provides insights into the well-being of households and consumers, and provides important information about how individuals and their families are faring in the economy. Topics examined in the survey include the overall wellbeing of individual consumers, income and savings behaviors, economic preparedness, access to banking and credit, housing decisions, car purchases and ...
Discussion Paper
Findings on Relative Deprivation from the Survey of Household Economics and Decisionmaking
The Federal Reserve's Survey of Household Economics and Decisionmaking (SHED) contains questions designed to ascertain overall economic well-being and fragility, which can be used to gauge both the perceptions individuals have about their own economic status and an approximation of their actual financial health.
Report
Report on the Economic Well-Being of U.S. Households in 2014
As the economy of the United States continues to rebound from the Great Recession, the well-being of households and consumers provides important information about the scope and pace of the economic recovery. In order to monitor the financial and economic status of American consumers, the Federal Reserve Board began conducting the Survey of Household Economics and Decision making in 2013 and conducted the survey for a second time in October 2014. The findings from the October 2014 survey are covered in this report. Topics examined in the survey include the financial health of individuals on a ...
Report
Consumers and Mobile Financial Services 2016
Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. The survey examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions. This report presents findings from the 2014 survey, fielded in December, which focused ...
Working Paper
Financial Repercussions of SNAP Work Requirements
This paper considers the credit response of individuals after the implementation of new work requirements for Supplemental Nutrition Assistance (SNAP) benefits using a large nationally representative sample of credit records. It does so by exploiting county-level variation in the implementation of work requirements after the Great Recession in a difference-in-differences design. We find that the implementation of new SNAP work requirements leads more people to seek out new credit and leads to an increase in credit account openings. New work requirements also result in an increase in total ...
Report
Consumers and Mobile Finance Services 2015
Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. The survey examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions. This report presents findings from the 2014 survey, fielded in December, which focused ...
Report
Report on the Economic Well-Being of U.S. Households in 2015
In order to monitor the financial and economic status of American consumers, the Federal Reserve Board conducted the third annual Survey of Household Economics and Decisionmaking in October and November 2015. This survey provides insights into the well-being of households and consumers, and provides important information about how individuals and their families are faring in the economy. Topics examined in the survey include the overall well-being of individual consumers, income and savings behaviors, economic preparedness, access to banking and credit, housing decisions, car purchases and ...