How did the pandemic affect household balance sheets?

Biggs, Andrew G.

How did the pandemic affect household balance sheets?

Biggs, Andrew G., Anqi Chen, and Alicia Haydock Munnell. “How did the pandemic affect household balance sheets?”. Issue in Brief 23-5, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, February 2023. http://hdl.handle.net/2345/bc-ir:109632.

Abstract

The brief's key findings are: (1) The COVID recession brought the economy to a halt, but households got robust government support and asset markets soared during 2020-2021. (2) Overall, balance sheets showed some improvements during this period: (i) high-wealth households saw rapid asset growth from the booming markets; and (ii) those in the middle got market gains and a boost from government stimulus checks. (3) Low-wealth households broke even as the stimulus offset earnings losses, much better than in the Great Recession when they came out way behind.

Title: How did the pandemic affect household balance sheets?
Author: Biggs, Andrew G.
Chen, Anqi
Munnell, Alicia Haydock
School: Carroll School of Management
Discipline: Finance
Center: Center for Retirement Research
Genre: report
Date Issued: February 2023
Publisher: Center for Retirement Research at Boston College
Series Title: Issue in Brief
Series Number: 23-5
Persistent Link: http://hdl.handle.net/2345/bc-ir:109632
Use Restrictions: These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject: Financing Retirement

How did the pandemic affect household balance sheets?

Abstract

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