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A comparison of the household sector from the Flow of Funds Accounts and the Survey of Consumer Finances

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  • Rochelle L. Antoniewicz

Abstract

This paper examines selected assets and liabilities from the FFA household sector and from the 1989 and 1992 SCF. SCF and FFA comparisons have proved difficult in the past, and previous research has not fully adjusted for definitional differences between the FFA and the SCF. This analysis addresses common misperceptions about the definitions of the FFA's assets and liabilities and describes the reconciliations between the FFA and SCF measures. The results show that for some asset and liability categories the SCF and FFA estimates are quite close. Measures of liabilities, however, match up better than those for assets.

Suggested Citation

  • Rochelle L. Antoniewicz, 1996. "A comparison of the household sector from the Flow of Funds Accounts and the Survey of Consumer Finances," Finance and Economics Discussion Series 96-26, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfe:96-26
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    References listed on IDEAS

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    1. Richard T. Curtin & Thomas Juster & James N. Morgan, 1989. "Survey Estimates of Wealth: An Assessment of Quality," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 473-552, National Bureau of Economic Research, Inc.
    2. Goodman, John Jr. & Ittner, John B., 1992. "The accuracy of home owners' estimates of house value," Journal of Housing Economics, Elsevier, vol. 2(4), pages 339-357, December.
    3. John McNeil & Enrique Lamas, 1989. "Year-Apart Estimates of Household Net Worth from the Survey of Income and Program Participation," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 431-472, National Bureau of Economic Research, Inc.
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    Cited by:

    1. John C. Weicher, 1997. "Wealth and its distribution, 1983-1992: secular growth, cyclical stability," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 3-23.
    2. Peter S. Yoo, 1998. "Still charging: the growth of credit card debt between 1992 and 1995," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 19-27.
    3. Moritz Kuhn & Moritz Schularick & Ulrike I. Steins, 2020. "Income and Wealth Inequality in America, 1949–2016," Journal of Political Economy, University of Chicago Press, vol. 128(9), pages 3469-3519.
    4. Peter S. Yoo, 1997. "Charging up a mountain of debt: accounting for the growth of credit card debt," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 3-13.
    5. Dean M. Maki & Michael G. Palumbo, 2001. "Disentangling the wealth effect: a cohort analysis of household saving in the 1990s," Finance and Economics Discussion Series 2001-21, Board of Governors of the Federal Reserve System (U.S.).
    6. Carol C. Bertaut & Martha Starr-McCluer, 2000. "Household portfolios in the United States," Finance and Economics Discussion Series 2000-26, Board of Governors of the Federal Reserve System (U.S.).
    7. Peter S. Yoo, 1996. "Charging up a mountain of debt: households and their credit cards," Working Papers 1996-015, Federal Reserve Bank of St. Louis.
    8. Arthur B. Kennickell, 2000. "An Examination of Changes in the Distribution of Wealth From 1989 to 1998: Evidence from the Survey of Consumer Finances," Macroeconomics 0004054, University Library of Munich, Germany.
    9. Ulrike Steins & Moritz Schularick & Moritz Kuhn, 2017. "Wealth and Income Inequality in America, 1949-2013," 2017 Meeting Papers 931, Society for Economic Dynamics.

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    Keywords

    Consumer behavior; Flow of funds;

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