2013 Update on the U.S. Earnings, Income, and Wealth Distributional Facts: A View from Macroeconomics

Title2013 Update on the U.S. Earnings, Income, and Wealth Distributional Facts: A View from Macroeconomics
Publication TypeJournal Article
Year of Publication2016
AuthorsKuhn, Moritz, and José-Víctor Ríos-Rull
JournalFederal Reserve Bank of Minneapolis Quarterly Review
Volume37
Pagination2-73
AbstractThis article is largely a description of the earnings, income, and wealth distributions in the United States in 2013 as measured by the Survey of Consumer Finances (SCF). We describe facts that lie at the joint distribution of the three variables. We look at inequality in relation to age, education, employer status, and marital status. We discuss the evolution of our results over the past 25 years (1989 - 2013), emphasizing the role played by the Great Recession. We pay special attention to the degree of income and wealth concentration at the top and discuss what the use of the SCF data can contribute to the ongoing debate on this topic. Finally, we look at which income sources and asset classes contribute most to income and wealth concentration.
URLhttps://www.minneapolisfed.org/research/quarterly-review/2013-update-on-the-us-earnings-income-and-wealth-distributional-facts-a-view-from-macroeconomics