Small Businesses and Small Business Finance During the Financial Crisis and the Great Recession: New Evidence from the Survey of Consumer Finances

2015 ◽  
Author(s):  
Arthur B. Kennickell ◽  
Myron L. Kwast ◽  
Jonathan Pogach
Keyword(s):  
Financial Crisis ◽  
Small Business ◽  
Great Recession ◽  
Small Businesses ◽  
Survey Of Consumer Finances ◽  
The Great Recession ◽  
Small Business Finance ◽  
Consumer Finances ◽  
New Evidence

Understanding the Unequal Post-Great Recession Wealth Recovery for American Families

2017 ◽  
Vol 17 (4) ◽  
Author(s):  
Sisi Zhang ◽  
Shuaizhang Feng
Keyword(s):  
Great Recession ◽  
Wealth Distribution ◽  
Wealth Accumulation ◽  
Survey Of Consumer Finances ◽  
The Great Recession ◽  
Consumer Finances ◽  
Level Data ◽  
Family Level ◽  
The Mean ◽  
Race Ethnicity

AbstractThe wealth of US families had not returned to its prerecession level by 2013, six years after the onset of the Great Recession. This article provides a comprehensive analysis of this slow and uneven episode of wealth recovery, using family-level data from the Survey of Consumer Finances 1989–2013. Both descriptive results and regressions controlling for life cycle wealth accumulation show that families of color and less-educated families are falling behind in wealth recovery because their wealth portfolios are concentrated in housing, which has recovered very slowly. The decomposition results suggest that homeownership plays a significant role in explaining wealth disparity by race, ethnicity, and education at the mean and bottom of the wealth distribution. Understanding the uneven wealth recovery has important implications for redesigning asset-related policies and narrowing wealth gaps.

scholarly journals Why Small Business Lending Isn’t What It Used to Be

2013 ◽  
pp. 1-4 ◽  
Author(s):  
Ann Marie Wiersch ◽  
Scott Shane
Keyword(s):  
Small Business ◽  
Great Recession ◽  
Small Businesses ◽  
Bank Lending ◽  
Single Factor ◽  
Multiple Sources ◽  
Small Business Lending ◽  
The Great Recession ◽  
The Many ◽  
Take All

Since the Great Recession, bank lending to small businesses has fallen significantly, and policymakers have become concerned that these businesses are not getting the credit they need. Many reasons have been suggested for the decline. Our analysis shows that it has multiple sources, which means that trying to address any single factor may be ineffective or make matters worse. Any intervention should take all of the many causes of the decline in small business lending into consideration.

Perceived Income Changes, Saving Motives, and Household Savings

2018 ◽  
Vol 29 (2) ◽  
pp. 396-409 ◽  
Author(s):  
Su Hyun Shin ◽  
Kyoung Tae Kim
Keyword(s):  
Great Recession ◽  
The United States ◽  
Household Savings ◽  
Survey Of Consumer Finances ◽  
The Great Recession ◽  
Consumer Finances ◽  
Negative Income ◽  
Income Shock ◽  
Saving Decisions

Using the 2007–2009 Survey of Consumer Finances panel dataset, we investigate whether and how changes in perceived income and saving motives are related to demand for household savings in the United States after the Great Recession. Households that perceive their current income as lower, relative to normal years are less likely to save than those who view that their income is the same as the reference point. This result holds only for those who experienced a significant negative income shock during the Great Recession. Among five major saving motives, saving for an emergency is an important factor in explaining the likelihood of saving. This study suggests that financial planners and educators should pay close attention to the role of households’ income perception and saving motives and should account for the resulting potential psychological biases in households’ saving decisions.

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