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Introducing the Distributional Financial Accounts of the United States

Author

Listed:
  • Michael M. Batty
  • Jesse Bricker
  • Joseph S. Briggs
  • Elizabeth Ball Holmquist
  • Susan Hume McIntosh
  • Kevin B. Moore
  • Eric Nielsen
  • Sarah Reber
  • Molly Shatto
  • Kamila Sommer
  • Tom Sweeney
  • Alice M. Henriques

Abstract

This paper describes the construction of the Distributional Financial Accounts (DFAs), a new dataset containing quarterly estimates of the distribution of U.S. household wealth since 1989, and provides the first look at the resulting data. The DFAs build on two existing Federal Reserve Board statistical products --- quarterly aggregate measures of household wealth from the Financial Accounts of the United States and triennial wealth distribution measures from the Survey of Consumer Finances --- to incorporate distributional information into a national accounting framework. The DFAs complement other existing sources of data on the wealth distribution by using a more comprehensive measure of household wealth and by providing quarterly data on a timely basis. We encourage policymakers, researchers, and other interested parties to use the DFAs to help understand issues related to the distribution of U.S. household wealth.

Suggested Citation

  • Michael M. Batty & Jesse Bricker & Joseph S. Briggs & Elizabeth Ball Holmquist & Susan Hume McIntosh & Kevin B. Moore & Eric Nielsen & Sarah Reber & Molly Shatto & Kamila Sommer & Tom Sweeney & Alice , 2019. "Introducing the Distributional Financial Accounts of the United States," Finance and Economics Discussion Series 2019-017, Board of Governors of the Federal Reserve System (US).
  • Handle: RePEc:fip:fedgfe:2019-17
    DOI: 10.17016/FEDS.2019.017
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    File URL: https://www.federalreserve.gov/econres/feds/files/2019017pap.pdf
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    References listed on IDEAS

    as
    1. Dettling, Lisa J. & Devlin-Foltz, Sebastian & Krimmel, Jacob & Pack, Sarah & Thompson, Jeffrey P., 2015. "Comparing Micro and Macro Sources for Household Accounts in the United States: Evidence from the Survey of Consumer Finances," Finance and Economics Discussion Series 2015-86, Board of Governors of the Federal Reserve System (US).
    2. Facundo Alvaredo & Anthony Atkinson & Lucas Chancel & Thomas Piketty & Emmanuel Saez & Gabriel Zucman, 2016. "Distributional National Accounts (DINA) Guidelines : Concepts and Methods used in WID.world," Working Papers 201602, World Inequality Lab.
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    More about this item

    Keywords

    Economic data ; Economic measurement ; Household economics ; Inequality ; National accounts ; Wealth distribution ; Wealth dynamics;

    JEL classification:

    • N3 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household

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