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Author:Kennickell, Arthur B. 

Working Paper
Banking market definition: evidence from the Survey of Consumer Finances

This paper uses data from the triennial waves of the Survey of Consumer Finances from 1992 to 2004 to examine changes in the use of financial services with implications for the definition of banking markets. Despite powerful technological and regulatory shifts over this period, households' banking markets overall remained largely local--the median distance to a provider of financial services remained under four miles. However, there has been rapid growth in the use of non-depository financial institutions over the period, particularly non-local ones. This increase occurred across a wide ...
Finance and Economics Discussion Series , Paper 2008-35

Journal Article
Changes in the use of transaction accounts and cash from 1984 to 1986

Federal Reserve Bulletin , Issue Mar , Pages 179-196

Journal Article
Changes in U.S. family finances from 2007 to 2010: evidence from the Survey of Consumer Finances

The Federal Reserve Board's Survey of Consumer Finances for 2010 provides insights into changes in family income and net worth since the 2007 survey. The survey shows that, over the 2007?10 period, the median value of real (inflation-adjusted) family income before taxes fell 7.7 percent, while mean income fell more sharply, an 11.1 percent decline. Both median and mean net worth decreased even more dramatically than income over this period, though the relative movements in the median and the mean are reversed; the median fell 38.8 percent, and the mean fell 14.7 percent. This article reviews ...
Federal Reserve Bulletin , Volume 98 , Issue June

Working Paper
Ponds and streams: wealth and income in the U.S., 1989 to 2007

Much discussion treats the working definitions of wealth and income as if they were self-evident, but definitional choices can make substantial differences in the overall picture. To provide a clear basis on which to examine family wealth and income their interrelationship, this paper begins with a basic discussion of a range of possible measures of those concepts. Using the measures developed, the paper examines the distributions of wealth and income and their joint properties using data from the 1989?2007 waves of the Survey of Consumer Finances (SCF). Among other things, the data show a ...
Finance and Economics Discussion Series , Paper 2009-13

Working Paper
A rolling tide: changes in the distribution of wealth in the U.S., 1989-2001

Over the period from 1989 to 2001, wealth in real terms grew broadly across U.S. families. Characterizing distributional changes is much more complex, and much more dependent on the specific questions asked. For example, there is evidence both from Forbes data on the 400 wealthiest Americans and from the SCF, which explicitly excludes families in the Forbes list, that wealth grew relatively strongly at the very top of the distribution. At the same time, the share of total household wealth held by the Forbes group rose. However, while the point estimate of the share of total wealth held by the ...
Finance and Economics Discussion Series , Paper 2003-24

Working Paper
Household saving and portfolio change: evidence from the 1983-89 SCF panel

There are very few sources of high-quality data on the dynamics of wealth accumulation. This paper uses newly-available data from the 1983-89 panel of the Survey of Consumer Finances to examine household saving and portfolio change over the 1980s. The 1983 SCF collected detailed information on households' assets, liabilities, income and other characteristics for a sample of 4,103 families. In 1989, 1,479 of these families were re-interviewed using a similar questionnaire. After describing the sample and methodology of the panel survey, we analyze changes in household wealth over the 1983-89 ...
Finance and Economics Discussion Series , Paper 96-18

Discussion Paper
Forecasting money demand with econometric models

Special Studies Papers , Paper 196

Working Paper
Saving and permanent income: evidence from the 1992 SCF

Finance and Economics Discussion Series , Paper 95-41

Working Paper
Beyond the Streetlight: Economic Measurement in the Division of Research and Statistics at the Federal Reserve

This paper was written for the academic conference held in celebration of the 100th anniversary of the Division of Research and Statistics (R&S) of the Federal Reserve Board. The work of the Federal Reserve turns strongly on empirical efforts to understand the structure and state of the economy, and R&S can be thought of as operating a large factory for discovering and developing data and analytical methods to provide evidence relevant to the mission of the Board. This paper, as signaled by its title, illustrates how the measurement research component of the R&S factory often looks far beyond ...
Finance and Economics Discussion Series , Paper 2025-019

Journal Article
Family finances in the U.S.: recent evidence from the Survey of Consumer Finances

Using data that have just become available from the 1995 Survey of Consumer Finances along with data from the 1989 and 1992 versions of the survey, this article provides a detailed picture of recent changes in the income, net worth, assets, and liabilities of U.S. families. It also presents information on families' saving, unrealized capital gains, debt payments, and institutional providers of credit. Of the developments the article reports, a few are particularly noteworthy. First, between the 1992 and 1995 surveys, both median family income and median family net worth rose in constant ...
Federal Reserve Bulletin , Issue Jan

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