A rolling tide
Subtitle: changes in the distribution of wealth in the U.S., 1989-2001
By: Arthur B. Kennickell.
Series: Finance and economics discussion series ;; 2003-24; Finance and economics discussion series (Online) ;; 2003-24.
Publisher: Federal Reserve Board
Published: 2003
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Wealth -- United States.
Description: "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 wealthiest one percent of families as measured by the SCF also rose, the change is not statistically significant.  In 2001, the division of wealth observed in the SCF attributed about a third each to the wealthiest 1 percent, the next wealthiest 9 percent, and the remaining 90 percent of the population.  The paper decomposes wealth holdings and distributional shifts in a variety of other ways.  Particular attention is given to families with negative net worth, families of older "baby boomer," and African American families"--Federal Reserve Board web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 7/26/2004.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.