Asset Building Events Financial Capability Events Events 2013 Financial Inclusion Events

Research Symposium—Restoring Household Financial Stability After the Great Recession: Why Household Balance Sheets Matter

Date: February 5-7, 2013
Location: Federal Reserve Bank of St. Louis

​America’s economic engine—its household sector—is sputtering. The common underlying vulnerability is widespread household financial instability: the inability of millions of Americans to meet their financial obligations, qualify for new credit, or play their traditional roles as consumers and homebuyers driving economic growth. This household financial instability was affirmed by the recently released Survey of Consumer Finances of the Federal Reserve, which showed that, overall, the median net worth of American households declined nearly 40 percent between 2007 and 2010. Particularly hard hit were younger, non-white and non-college-educated households.

Through commissioned papers, keynote speeches and a competitive call for papers, this symposium will highlight the critical role of household balance sheets in restoring household financial stability and national economic growth. CSD is co-sponsoring the symposium with the Household Financial Stability Initiative and Research Department of the Federal Reserve Bank of St. Louis. Keynote speakers will include Michael Barr, former assistant secretary for financial institutions at the Treasury Department and current professor at the University of Michigan Law School; Christopher Carroll, professor of economics at Johns Hopkins University; and Federal Reserve Governor Jeremy Stein. Click here for more information.