G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w20733
来源IDWorking Paper 20733
Household Wealth Trends in the United States, 1962-2013: What Happened over the Great Recession?
Edward N. Wolff
发表日期2014-12-08
出版年2014
语种英语
摘要Asset prices plunged between 2007 and 2010 but then rebounded from 2010 to 2013. The most telling finding is that median wealth plummeted by 44 percent over years 2007 to 2010, almost double the drop in housing prices. The inequality of net worth, after almost two decades of little movement, was also up sharply. Relative indebtedness expanded, particularly for the middle class, though the proximate causes were declining net worth and income rather than an increase in absolute indebtedness. The sharp fall in median net worth and the rise in overall wealth inequality over these years are traceable primarily to the high leverage of middle class families and the high share of homes in their portfolio. The racial and ethnic disparity in wealth also widened considerably. Households under age 45 saw their relative and absolute wealth declined sharply. Rather remarkably, there was virtually no change in median wealth from 2010 to 2013 despite the rebound in asset prices. The proximate cause was the high dissavings of the middle class, though their debt continued to fall. Wealth inequality and the racial and ethnic wealth gap also remained largely unchanged, though there was some recovery of net worth for young households.
主题Microeconomics ; Market Structure and Distribution ; Labor Economics ; Demography and Aging
URLhttps://www.nber.org/papers/w20733
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/578408
推荐引用方式
GB/T 7714
Edward N. Wolff. Household Wealth Trends in the United States, 1962-2013: What Happened over the Great Recession?. 2014.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Edward N. Wolff]的文章
百度学术
百度学术中相似的文章
[Edward N. Wolff]的文章
必应学术
必应学术中相似的文章
[Edward N. Wolff]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。