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Wealth Concentration Levels and Growth: 1989-2016

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Abstract

Wealth concentration in the U.S. has increased over the past 25 years across multiple methodologies for measuring wealth. But the reasons for the increase—and the timing of the increase—are quite different. In this note, we show that most available estimates are fairly consistent in level and trend prior to the Financial Crisis. However, the timing and reasons for the sharp increase in wealth concentration during and after the crisis differ remarkably across methods. We describe some of the factors that underlie this divergence.

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  • Jesse Bricker & Alice Henriques Volz, 2020. "Wealth Concentration Levels and Growth: 1989-2016," FEDS Notes 2020-02-20, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2020-02-20
    DOI: 10.17016/2380-7172.2438
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/wealth-concentration-levels-and-growth-1989-2016-20200220.htm
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    Cited by:

    1. Samuel Forbes & Stefan Grosskinsky, 2021. "A Study of UK Household Wealth through Empirical Analysis and a Non-linear Kesten Process," Papers 2107.02169, arXiv.org.
    2. Miriam Rehm, 2020. "Vermögensverteilung und Wirtschaftskrisen," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(4), pages 245-249, April.
    3. Matthew Smith & Owen Zidar & Eric Zwick, 2020. "Top Wealth in America: New Estimates and Implications for Taxing the Rich," Working Papers 264, Princeton University, Department of Economics, Center for Economic Policy Studies..
    4. Emmanuel Saez & Gabriel Zucman, 2020. "Trends in US Income and Wealth Inequality: Revising After the Revisionists," NBER Working Papers 27921, National Bureau of Economic Research, Inc.

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