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Finance and Economics Discussion Series: Data for FEDS 2012-81 ♣

The Integrated Macroeconomic Accounts of the United States

Marco Cagetti, Elizabeth Ball Holmquist, Lisa Lynn, Susan Hume McIntosh, and David Wasshausen

Figure 1: Household Net Worth Relative to Disposable Personal Income

Quarter Ratio
1990q1 4.896
1990q2 4.87
1990q3 4.719
1990q4 4.797
1991q1 4.903
1991q2 4.842
1991q3 4.855
1991q4 4.917
1992q1 4.818
1992q2 4.749
1992q3 4.75
1992q4 4.784
1993q1 4.912
1993q2 4.855
1993q3 4.906
1993q4 4.902
1994q1 4.913
1994q2 4.834
1994q3 4.836
1994q4 4.797
1995q1 4.858
1995q2 4.942
1995q3 5.023
1995q4 5.093
1996q1 5.129
1996q2 5.12
1996q3 5.116
1996q4 5.123
1997q1 5.126
1997q2 5.352
1997q3 5.477
1997q4 5.466
1998q1 5.652
1998q2 5.627
1998q3 5.357
1998q4 5.726
1999q1 5.768
1999q2 5.915
1999q3 5.795
1999q4 6.176
2000q1 6.186
2000q2 6.02
2000q3 6.008
2000q4 5.807
2001q1 5.555
2001q2 5.713
2001q3 5.329
2001q4 5.613
2002q1 5.54
2002q2 5.291
2002q3 5.074
2002q4 5.207
2003q1 5.175
2003q2 5.351
2003q3 5.372
2003q4 5.609
2004q1 5.788
2004q2 5.82
2004q3 5.83
2004q4 6.019
2005q1 6.185
2005q2 6.255
2005q3 6.349
2005q4 6.453
2006q1 6.527
2006q2 6.385
2006q3 6.386
2006q4 6.493
2007q1 6.506
2007q2 6.499
2007q3 6.451
2007q4 6.228
2008q1 5.841
2008q2 5.506
2008q3 5.314
2008q4 4.905
2009q1 4.762
2009q2 4.841
2009q3 5.08
2009q4 5.142
2010q1 5.154
2010q2 4.95
2010q3 5.078
2010q4 5.218
2011q1 5.301
2011q2 5.253
2011q3 4.987
2011q4 5.137
2012q1 5.342
Return to Figure 1

Figure 2: Composition of the Change in Household Net Worth

Year Net worth Revaluations Other volume changes Net lending or borrowing Capital formation
2000 0.264 0.272 -0.185 -0.112 0.289
2001 -0.148 -0.567 0.245 -0.128 0.303
2002 -1.034 -1.466 0.179 -0.075 0.328
2003 5.922 5.182 0.448 -0.086 0.378
2004 6.941 5.352 1.287 -0.158 0.459
2005 6.262 5.786 0.306 -0.357 0.527
2006 4.424 4.061 0.122 -0.258 0.499
2007 0.518 -0.332 0.61 -0.126 0.365
2008 -12.611 -13.389 0.182 0.373 0.223
2009 2.04 1.038 0.399 0.488 0.116
2010 3.565 2.611 0.318 0.535 0.1
2011 0.877 -0.425 0.734 0.476 0.091
Return to Figure 2

Figure 3: Corporate and Home Equity Relative to Disposable Personal Income

Year Home equity Corporate equity
1960q1 0.95 1.006
1960q2 0.943 1.022
1960q3 0.947 0.942
1960q4 0.939 1.064
1961q1 0.916 1.181
1961q2 0.92 1.166
1961q3 0.918 1.178
1961q4 0.91 1.242
1962q1 0.91 1.2
1962q2 0.897 0.902
1962q3 0.889 0.945
1962q4 0.887 1.148
1963q1 0.885 1.201
1963q2 0.866 1.247
1963q3 0.863 1.279
1963q4 0.845 1.195
1964q1 0.817 1.24
1964q2 0.808 1.243
1964q3 0.795 1.267
1964q4 0.796 1.275
1965q1 0.789 1.29
1965q2 0.775 1.221
1965q3 0.75 1.289
1965q4 0.748 1.337
1966q1 0.725 1.278
1966q2 0.76 1.213
1966q3 0.741 1.068
1966q4 0.754 1.122
1967q1 0.743 1.246
1967q2 0.742 1.245
1967q3 0.737 1.297
1967q4 0.746 1.318
1968q1 0.754 1.19
1968q2 0.752 1.321
1968q3 0.753 1.328
1968q4 0.788 1.45
1969q1 0.81 1.36
1969q2 0.806 1.272
1969q3 0.786 1.199
1969q4 0.793 1.115
1970q1 0.787 1.064
1970q2 0.798 0.82
1970q3 0.772 0.936
1970q4 0.78 1.02
1971q1 0.781 1.096
1971q2 0.781 1.066
1971q3 0.786 1.04
1971q4 0.788 1.096
1972q1 0.812 1.143
1972q2 0.809 1.123
1972q3 0.815 1.117
1972q4 0.824 1.212
1973q1 0.825 1.098
1973q2 0.832 0.983
1973q3 0.855 1.024
1973q4 0.852 0.836
1974q1 0.816 0.797
1974q2 0.781 0.7
1974q3 0.752 0.506
1974q4 0.759 0.512
1975q1 0.796 0.62
1975q2 0.789 0.674
1975q3 0.774 0.588
1975q4 0.775 0.616
1976q1 0.771 0.695
1976q2 0.799 0.699
1976q3 0.791 0.689
1976q4 0.797 0.695
1977q1 0.816 0.631
1977q2 0.841 0.631
1977q3 0.846 0.588
1977q4 0.854 0.55
1978q1 0.866 0.509
1978q2 0.881 0.531
1978q3 0.89 0.557
1978q4 0.898 0.517
1979q1 0.923 0.534
1979q2 0.953 0.534
1979q3 0.956 0.552
1979q4 0.95 0.549
1980q1 0.959 0.495
1980q2 0.979 0.558
1980q3 0.99 0.605
1980q4 0.956 0.637
1981q1 0.944 0.628
1981q2 0.994 0.605
1981q3 0.992 0.501
1981q4 0.99 0.532
1982q1 1.009 0.468
1982q2 0.997 0.45
1982q3 0.981 0.483
1982q4 0.977 0.561
1983q1 0.981 0.611
1983q2 0.97 0.676
1983q3 0.945 0.645
1983q4 0.922 0.606
1984q1 0.943 0.552
1984q2 0.95 0.508
1984q3 0.957 0.53
1984q4 0.968 0.53
1985q1 0.981 0.568
1985q2 0.989 0.583
1985q3 1.02 0.548
1985q4 1.034 0.638
1986q1 1.035 0.709
1986q2 1.046 0.729
1986q3 1.05 0.652
1986q4 1.058 0.712
1987q1 1.065 0.842
1987q2 1.084 0.859
1987q3 1.073 0.877
1987q4 1.065 0.672
1988q1 1.064 0.701
1988q2 1.07 0.716
1988q3 1.065 0.692
1988q4 1.06 0.706
1989q1 1.056 0.722
1989q2 1.063 0.762
1989q3 1.081 0.817
1989q4 1.076 0.824
1990q1 1.063 0.763
1990q2 1.037 0.786
1990q3 1.021 0.649
1990q4 0.999 0.723
1991q1 0.983 0.829
1991q2 0.972 0.811
1991q3 0.964 0.856
1991q4 0.95 0.961
1992q1 0.941 0.923
1992q2 0.928 0.909
1992q3 0.923 0.927
1992q4 0.91 1.01
1993q1 0.919 1.067
1993q2 0.904 1.061
1993q3 0.905 1.105
1993q4 0.893 1.134
1994q1 0.9 1.095
1994q2 0.887 1.065
1994q3 0.88 1.091
1994q4 0.865 1.074
1995q1 0.859 1.143
1995q2 0.858 1.225
1995q3 0.856 1.309
1995q4 0.855 1.382
1996q1 0.848 1.426
1996q2 0.841 1.456
1996q3 0.837 1.466
1996q4 0.833 1.481
1997q1 0.827 1.467
1997q2 0.83 1.693
1997q3 0.823 1.823
1997q4 0.823 1.803
1998q1 0.823 1.995
1998q2 0.828 1.991
1998q3 0.839 1.71
1998q4 0.852 2.051
1999q1 0.862 2.085
1999q2 0.876 2.244
1999q3 0.887 2.096
1999q4 0.892 2.47
2000q1 0.91 2.526
2000q2 0.938 2.368
2000q3 0.959 2.329
2000q4 0.991 2.06
2001q1 1.021 1.764
2001q2 1.038 1.89
2001q3 1.042 1.538
2001q4 1.074 1.753
2002q1 1.06 1.715
2002q2 1.069 1.494
2002q3 1.089 1.23
2002q4 1.092 1.311
2003q1 1.1 1.246
2003q2 1.092 1.435
2003q3 1.094 1.478
2003q4 1.116 1.649
2004q1 1.155 1.682
2004q2 1.18 1.658
2004q3 1.201 1.613
2004q4 1.216 1.75
2005q1 1.311 1.748
2005q2 1.341 1.767
2005q3 1.368 1.824
2005q4 1.387 1.833
2006q1 1.391 1.931
2006q2 1.324 1.854
2006q3 1.283 1.894
2006q4 1.272 2.013
2007q1 1.21 2.041
2007q2 1.131 2.12
2007q3 1.053 2.108
2007q4 0.971 1.971
2008q1 0.867 1.748
2008q2 0.767 1.653
2008q3 0.713 1.468
2008q4 0.646 1.141
2009q1 0.579 1.02
2009q2 0.587 1.214
2009q3 0.615 1.432
2009q4 0.628 1.475
2010q1 0.636 1.512
2010q2 0.625 1.33
2010q3 0.589 1.483
2010q4 0.574 1.619
2011q1 0.554 1.713
2011q2 0.548 1.686
2011q3 0.546 1.395
2011q4 0.533 1.517
2012q1 0.568 1.679
Return to Figure 3

Figure 4: Household Debt Relative to Disposable Personal Income

Quarter Ratio
1990q1 0.808
1990q2 0.811
1990q3 0.818
1990q4 0.826
1991q1 0.821
1991q2 0.826
1991q3 0.827
1991q4 0.83
1992q1 0.814
1992q2 0.812
1992q3 0.816
1992q4 0.816
1993q1 0.824
1993q2 0.821
1993q3 0.834
1993q4 0.835
1994q1 0.84
1994q2 0.838
1994q3 0.843
1994q4 0.85
1995q1 0.846
1995q2 0.859
1995q3 0.867
1995q4 0.875
1996q1 0.869
1996q2 0.872
1996q3 0.877
1996q4 0.882
1997q1 0.876
1997q2 0.882
1997q3 0.884
1997q4 0.883
1998q1 0.871
1998q2 0.876
1998q3 0.88
1998q4 0.891
1999q1 0.894
1999q2 0.905
1999q3 0.917
1999q4 0.916
2000q1 0.898
2000q2 0.908
2000q3 0.917
2000q4 0.934
2001q1 0.932
2001q2 0.957
2001q3 0.957
2001q4 0.993
2002q1 0.981
2002q2 0.994
2002q3 1.019
2002q4 1.044
2003q1 1.054
2003q2 1.073
2003q3 1.083
2003q4 1.105
2004q1 1.111
2004q2 1.126
2004q3 1.142
2004q4 1.153
2005q1 1.182
2005q2 1.202
2005q3 1.218
2005q4 1.233
2006q1 1.233
2006q2 1.248
2006q3 1.263
2006q4 1.269
2007q1 1.269
2007q2 1.279
2007q3 1.291
2007q4 1.288
2008q1 1.264
2008q2 1.224
2008q3 1.239
2008q4 1.252
2009q1 1.255
2009q2 1.245
2009q3 1.249
2009q4 1.239
2010q1 1.205
2010q2 1.183
2010q3 1.17
2010q4 1.157
2011q1 1.132
2011q2 1.117
2011q3 1.109
2011q4 1.106
2012q1 1.092
Return to Figure 4

Figure 5: Net Lending (+) or Net Borrowing (-) in the Capital and Financial Accounts

Year Capital account Financial account
1970 -3.167 -6.558
1971 -10.724 -13.618
1972 -13.028 12.069
1973 0.806 7.598
1974 -3.871 -22.998
1975 3.477 -24.206
1976 -16.422 -22.459
1977 -32.19 -4.212
1978 -38.764 -35.052
1979 -48.24 -57.037
1980 -36.913 -27.482
1981 -33.329 25.347
1982 -8.169 -3.749
1983 -84.851 -26.551
1984 -121.722 -54.464
1985 -156.793 -264.143
1986 -210.55 -59.009
1987 -187.12 -71.681
1988 -106.343 -139.533
1989 -148.825 -258.046
1990 -166.484 30.813
1991 -77.18 -0.267
1992 -154.319 -176.57
1993 -215.227 65.314
1994 -224.811 31.234
1995 -158.026 31.107
1996 -140.272 0.346
1997 -115.835 49.77
1998 -119.458 92.283
1999 -225.305 -21.23
2000 -276.726 -337.683
2001 -275.352 -178.901
2002 -429.993 -659.308
2003 -534.913 -437.596
2004 -599.449 -394.528
2005 -632.591 -600.997
2006 -558.189 -725.862
2007 -703.937 -472.496
2008 -671.147 -1677.682
2009 -455.431 -404.301
2010 -480.684 -645.588
2011 -452.625 -274.375
Return to Figure 5

Figure 6: Net Lending/Net Borrowing Financial Business

Year Capital account Financial account Charge-offs
1995 12.894 69.547 8.96739018
1996 -1.445 21.983 -0.31765435
1997 12.178 74.011 9.01305958
1998 -33.913 15.311 -5.19241943
1999 -3.593 123.435 -4.43501955
2000 -18.345 6.144 -1.1271168
2001 43.507 -13.479 -5.86430853
2002 80.326 28.66 23.0214316
2003 111.742 218.276 243.90596792
2004 91.666 15.551 14.25497966
2005 92.033 306.648 282.21735384
2006 104.913 262.967 275.88656871
2007 -2.566 108.248 -2.77764368
2008 -46.719 -266.757 124.62620283
2009 274.644 45.576 125.17174944
2010 156.909 -209.067 -328.04493903
Return to Figure 6

Figure 7: Net Lending/Net Borrowing Pension and Insurance Subsector

Year Capital account Financial account
2002 23.8 52
2003 30.5 57.9
2004 28.9 71.4
2005 11 39.4
2006 40.8 43.9
2007 9 73.2
2008 -12.8 9.9
2009 38.3 124.5
2010 25.1 3.8
Return to Figure 7

Figure 8: Net Lending/Net Borrowing Other Financial Business

Year Capital account Financial account
2002 58.1 -24.4
2003 83.2 159.9
2004 61.7 -58.6
2005 75.3 265.9
2006 59.4 216.7
2007 -14.5 31.9
2008 -39.9 -279.3
2009 232.9 -83.5
2010 137 -213.8
Return to Figure 8

Figure 9: Financial Subsector Net Worth

Year Insurance and Pensions FRB Other
2002 -28.1 17.1 -351.7
2003 -74.3 17.5 -748.7
2004 55.9 20.7 -1034.00
2005 28 22.3 -831
2006 -57.4 25.3 -1050.00
2007 236.4 28.7 -198.2
2008 565.1 31.7 1062.40
2009 613.8 35.8 776.7
2010 617.8 36.6 269.5
Return to Figure 9

Figure 10: Net Lending/Net Borrowing - Capital Account

Year Insurance/Pensions FRB Other Financial Business
2002 23.8 -1.5 58.1
2003 30.5 -1.9 83.2
2004 28.9 1 61.7
2005 11 5.8 75.3
2006 40.8 4.8 59.4
2007 9 2.9 -14.5
2008 -12.8 6 -39.9
2009 38.3 3.4 232.9
2010 25.1 -5.2 137
Return to Figure 10

Figure 11: Net Lending/Net Borrowing - Financial Account

Year Insurance and Pensions FRB Other
2002 52 1.1 -24.4
2003 57.9 0.5 159.9
2004 71.4 2.8 -58.6
2005 39.4 1.3 265.9
2006 43.9 2.4 216.7
2007 73.2 3.1 31.9
2008 9.9 2.6 -279.3
2009 124.5 4.6 -83.5
2010 3.8 0.9 -213.8
Return to Figure 11
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Last update: May 30, 2013