Tag: stimulus check
Rising asset markets helped the rich and government payments let the poor break even. We just finished a study that looks at how the pandemic affected the finances of vulnerable households as well as those with more resources, using data from the Panel Study of Income Dynamics (PSID). The PSID is a panel survey, whic…
The brief’s key findings are: The COVID recession brought the economy to a halt, but households got robust government support and asset markets soared during 2020-2021. Overall, balance sheets showed some improvements during this period: high-wealth households saw rapid asset growth from the booming markets; and those in the middle got market gains and a boost from…
