DATA DETAILS: SUPPLEMENTARY DATA

I draw on numerous data sources to provide estimates of wealth ownership and mobility. Table A.1 highlights the strengths and limitations of these sources

BALANCE SHEETS FOR THE U.S. ECONOMY, 1994–2003

The Balance Sheets for the U.S. Economy (the flow of funds) is a time series of flows and levels (stocks) of aggregate wealth holdings for various sectors of the economy. The Board of Governors of the Federal Reserve System has prepared and published annual flow of funds estimates since 1945 and additional quarterly estimates since 1952. These accounts provide a broad estimate of investment activity by measuring the value of real assets and financial assets held and transferred throughout the U.S. economy and by simultaneously tracking the sources of funds used to acquire these assets. The purpose of the flow of funds is to produce estimates of total sources of funds moving among economic sectors, including the household sector and 26 other sectors, such as state and local governments and nonfinancial corporations. These accounts also track each sector's use of the funds by estimating the movement of assets and liabilities among financial instruments.

Flow of funds data are taken from various private and public reports and publications and are constructed on the basis of the principle that total sources of funds must equal total uses of funds.