The Rise and Fall of Pandemic Excess Wealth
Hamza Abdelrahman,
Luiz E. Oliveira and
Adam Shapiro
Additional contact information
Luiz E. Oliveira: https://www.frbsf.org/economic-research/economists/luiz-oliveira/
FRBSF Economic Letter, 2024, vol. 2024, issue 06, 6
Abstract:
U.S. households accumulated significantly more wealth following the pandemic onset than would have been expected without the pandemic shock. Overall excess household wealth—measured as households’ inflation-adjusted net worth beyond pre-pandemic projections—peaked in late 2021 at $13 trillion, then rapidly fell to zero in late 2022, where it broadly remained through the third quarter of 2023. This rise and fall can be attributed mainly to financial assets, particularly equity holdings. Similarly, real liquid asset holdings currently sit below pre-pandemic projections despite a persistent rise in checking account balances.
Keywords: covid19; pandemic; households; wealth; net worth (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
https://www.frbsf.org/wp-content/uploads/el2024-06.pdf Full text - article PDF (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfel:97843
Ordering information: This journal article can be ordered from
Access Statistics for this article
More articles in FRBSF Economic Letter from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().