Trends in Household Portfolio Composition

Jesse Bricker, Kevin B. Moore and Jeffrey Thompson
Additional contact information
Jesse Bricker: https://www.federalreserve.gov/econres/jesse-bricker.htm
Kevin B. Moore: https://www.federalreserve.gov/econres/kevin-b-moore.htm

No 2019-069, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: We use data from the Survey of Consumer Finances (SCF) to explore how household asset portfolios in the United States have evolved from 1989 to 2016. Throughout this period, two key assets?housing and financial market assets?have driven the aggregate household balance sheet evolution. However, aggregates mask great heterogeneity in balance sheet composition across the wealth distribution, and most families hold a relatively small share of assets in financial markets and larger shares in housing and other nonfinancial assets. We also describe the typical life cycle asset accumulation processes among low, middle, and high-income families which?though varying dramatically by level?are quite similar. Finally, we use household balance sheets to describe how financial vulnerability has changed over time.

Keywords: Distribution of wealth; Household finance; Household wealth (search for similar items in EconPapers)
Pages: 51 pages
Date: 2019-09-20
New Economics Papers: this item is included in nep-his and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Working Paper: Trends in household portfolio composition (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfe:2019-69

DOI: 10.17016/FEDS.2019.069

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