Donihue, Michael R. (contributor); … - 2007
During the period from 1990 to 2002, U.S. households experienced a dramatic wealth cycle, induced by a 369-percent … rise throughout this period. Using data from 1990 to 2005, traditional approaches to estimating macroeconomic wealth …, income, and wealth is weak at best; and (ii) life-cycle models that rely on aggregate measures of wealth cannot explain why …