The Housing Wealth Effect: The Crucial Roles of Demographics, Wealth Distribution and Wealth Shares Charles W. Calomiris, Stanley D. Longhofer, and William Miles Data notes for CLM_Wealth_PublicData.xls Suggested Citation: "The Housing Wealth Effect: The Crucial Roles of Demographics, Wealth Distribution and Wealth Shares," by Charles W. Calomiris, Stanley D. Longhofer and William Miles, April 2013 =========================================== Contains data from CLM_Wealth_PublicData.dta obs: 1,508 vars: 34 17 Apr 2013 16:20 size: 245,804 (99.9% of memory free) (_dta has notes) -------------------------------------------------------------------------------------------- storage display value variable name type format label variable label -------------------------------------------------------------------------------------------- state byte %8.0g state State year int %9.0g Year lncons float %9.0g Log Real Sales per Capita lninc float %9.0g Log Real Income per Capita lnh float %9.0g Log Real Housing Wealth per Capita lnst float %9.0g Log Real Stock Wealth per Capita lnw float %9.0g Log Real Total Wealth per Capita cons_real float %9.0g Real Retail Sales per Capita inc_real float %9.0g Real Income per Capita st_real float %9.0g Real Stock Wealth per Capita h_real float %9.0g Real Housing Wealth per Capita w_real float %9.0g Real Per Capital Total Wealth sales double %12.3fc * Nominal Retail Sales income double %15.3fc * Nominal Personal Income stock float %15.3fc * Nominal Stock Wealth share double %10.0g * Mutual Fund Share housingwealth float %9.0g * Nominal Housing Wealth home_value double %15.3fc * Home Value owners float %12.0fc * Owner Households population long %15.0fc * Population gdpdef double %10.0g * GDP Deflator pop1 float %12.0fc * Adult Population age20_34 float %12.0fc * 20-34 population age35_54 float %12.0fc * 35-54 population age55 float %12.0fc * 55+ population age1ratio float %9.2fc * Percent of Adult Population Ages 20-34 age2ratio float %9.2fc * Percent of Adult Population Ages 35-54 age3ratio float %9.2fc * Percent of Adult Population Ages 55+ sale_p float %9.0g Nominal Retail Sales per Capita inc_p float %9.0g Nominal Income per Capita st_p float %9.0g Nominal Stock Wealth per Capita h_p float %9.0g Nominal Housing Wealth per Capita poverty double %10.0g * Poverty Rate urate float %9.0g * Unemployment Rate * indicated variables have notes -------------------------------------------------------------------------------------------- Sorted by: state year . notes _dta: 1. Suggested citation: "The Housing Wealth Effect: The Crucial Roles of Demographics, Wealth Distribution and Wealth Shares," by Charles W. Calomiris, Stanley D. Longhofer and William Miles, April 2013 sales: 1. Source: Moody's Economy.com 2. Billions of dollars 3. Annual average of quarterly SAAR retail sales estimates income: 1. Source: U.S. Department of Commerce: Bureau of Economic Analysis 2. BEA state-level personal income - 2011Q1 release 3. Billions of dollars stock: 1. Source: Federal Reserve Flow of Funds Table L.100 - Households and Nonprofit Organizations - 2011Q1 release 2. Sum of corporate equities (line 17), mutual fund shares (line 18) and pension fund reserves (line 21) 3. Billions of dollars share: 1. Sources: Case, Quigley, Shiller 2005 and ICI. 2. 1986, 87, 89, 91 and 93 data are imputed from the original CQS data by calculating the total nominal stock wealth in each year and calculating the percent of that total found in each state. 1995, 2000, 2008 and 2009 data come from ICI. The 1995 data are mutual fund assets by state based on mutual fund company information (as in CQS). Data for 2000, 2008 and 2009 are estimated based on household survey results. housingwealth: 1. Billions of dollars home_value: 1. Source: Lincoln Institute of Land Policy Land Values Database - 2011Q1 Release - www.lincolninst.edu owners: 1. Source: Current Population Survey Annual Social & Economic (ASEC) Supplements 2. Calcualted as the 3-year (forward and lagging) moving average of the estimated values derived from the CPS surveys. The moving averages are intended to smooth for sampling variation and changes in sample weights across years. population: 1. Source: Bureau of the Census 2. Midyear population estimates of the Census Bureau except for the 2010 census. Data prior to 2001 were obtained from the BEA in the personal income download. These data ended in 2000 because the Census Bureau had not yet released intercensal population estimates that incorporate the results of the 2010 Decennial Census. Estimates for 2001 through 2008 are based on the official population estimates on the Census website (but as noted above these do not incorporate 2010 Census results). gdpdef: 1. Source: U.S. Department of Commerce: Bureau of Economic Analysis 2. Gross Domestic Product Implicit Price Deflator, seasonally adjusted 3. Index: 2005=100 4. 4th quarter values used as the annual figure. pop1: 1. Sources: United States Department of Commerce, U.S. Census Bureau, Population Division; Census Population 1970-2000 for Public Health Research, CDC WONDER On-line Database, March 2003. Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States, 1990 - 2003, July 1st resident population by state, county, age, sex, race, and Hispanic origin, on CDC WONDER On-line Database, June 2005. Accessed at wonder.cdc.gov/census.html on Jul 11, 2011 7:47:34 PM AND United States Department of Health and Human Services (US DHHS), Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States July 1st resident population by state, county, age, sex, bridged-race, and Hispanic origin, compiled from 1990-1999 bridged-race intercensal population estimates and 2000-2009 (Vintage 2009) bridged-race postcensal population estimates, on CDC WONDER On-line Database. Accessed at wonder.cdc.gov/bridged-race-v2009.html on Jul 11, 2011 7:49:52 PM age20_34: 1. Sources: United States Department of Commerce, U.S. Census Bureau, Population Division; Census Population 1970-2000 for Public Health Research, CDC WONDER On-line Database, March 2003. Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States, 1990 - 2003, July 1st resident population by state, county, age, sex, race, and Hispanic origin, on CDC WONDER On-line Database, June 2005. Accessed at wonder.cdc.gov/census.html on Jul 11, 2011 7:47:34 PM AND United States Department of Health and Human Services (US DHHS), Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States July 1st resident population by state, county, age, sex, bridged-race, and Hispanic origin, compiled from 1990-1999 bridged-race intercensal population estimates and 2000-2009 (Vintage 2009) bridged-race postcensal population estimates, on CDC WONDER On-line Database. Accessed at wonder.cdc.gov/bridged-race-v2009.html on Jul 11, 2011 7:49:52 PM age35_54: 1. Sources: United States Department of Commerce, U.S. Census Bureau, Population Division; Census Population 1970-2000 for Public Health Research, CDC WONDER On-line Database, March 2003. Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States, 1990 - 2003, July 1st resident population by state, county, age, sex, race, and Hispanic origin, on CDC WONDER On-line Database, June 2005. Accessed at wonder.cdc.gov/census.html on Jul 11, 2011 7:47:34 PM AND United States Department of Health and Human Services (US DHHS), Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States July 1st resident population by state, county, age, sex, bridged-race, and Hispanic origin, compiled from 1990-1999 bridged-race intercensal population estimates and 2000-2009 (Vintage 2009) bridged-race postcensal population estimates, on CDC WONDER On-line Database. Accessed at wonder.cdc.gov/bridged-race-v2009.html on Jul 11, 2011 7:49:52 PM age55: 1. Sources: United States Department of Commerce, U.S. Census Bureau, Population Division; Census Population 1970-2000 for Public Health Research, CDC WONDER On-line Database, March 2003. Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States, 1990 - 2003, July 1st resident population by state, county, age, sex, race, and Hispanic origin, on CDC WONDER On-line Database, June 2005. Accessed at wonder.cdc.gov/census.html on Jul 11, 2011 7:47:34 PM AND United States Department of Health and Human Services (US DHHS), Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States July 1st resident population by state, county, age, sex, bridged-race, and Hispanic origin, compiled from 1990-1999 bridged-race intercensal population estimates and 2000-2009 (Vintage 2009) bridged-race postcensal population estimates, on CDC WONDER On-line Database. Accessed at wonder.cdc.gov/bridged-race-v2009.html on Jul 11, 2011 7:49:52 PM age1ratio: 1. Sources: United States Department of Commerce, U.S. Census Bureau, Population Division; Census Population 1970-2000 for Public Health Research, CDC WONDER On-line Database, March 2003. Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States, 1990 - 2003, July 1st resident population by state, county, age, sex, race, and Hispanic origin, on CDC WONDER On-line Database, June 2005. Accessed at wonder.cdc.gov/census.html on Jul 11, 2011 7:47:34 PM AND United States Department of Health and Human Services (US DHHS), Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States July 1st resident population by state, county, age, sex, bridged-race, and Hispanic origin, compiled from 1990-1999 bridged-race intercensal population estimates and 2000-2009 (Vintage 2009) bridged-race postcensal population estimates, on CDC WONDER On-line Database. Accessed at wonder.cdc.gov/bridged-race-v2009.html on Jul 11, 2011 7:49:52 PM age2ratio: 1. Sources: United States Department of Commerce, U.S. Census Bureau, Population Division; Census Population 1970-2000 for Public Health Research, CDC WONDER On-line Database, March 2003. Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States, 1990 - 2003, July 1st resident population by state, county, age, sex, race, and Hispanic origin, on CDC WONDER On-line Database, June 2005. Accessed at wonder.cdc.gov/census.html on Jul 11, 2011 7:47:34 PM AND United States Department of Health and Human Services (US DHHS), Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States July 1st resident population by state, county, age, sex, bridged-race, and Hispanic origin, compiled from 1990-1999 bridged-race intercensal population estimates and 2000-2009 (Vintage 2009) bridged-race postcensal population estimates, on CDC WONDER On-line Database. Accessed at wonder.cdc.gov/bridged-race-v2009.html on Jul 11, 2011 7:49:52 PM age3ratio: 1. Sources: United States Department of Commerce, U.S. Census Bureau, Population Division; Census Population 1970-2000 for Public Health Research, CDC WONDER On-line Database, March 2003. Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States, 1990 - 2003, July 1st resident population by state, county, age, sex, race, and Hispanic origin, on CDC WONDER On-line Database, June 2005. Accessed at wonder.cdc.gov/census.html on Jul 11, 2011 7:47:34 PM AND United States Department of Health and Human Services (US DHHS), Centers for Disease Control and Prevention (CDC), National Center for Health Statistics (NCHS), Bridged-Race Population Estimates, United States July 1st resident population by state, county, age, sex, bridged-race, and Hispanic origin, compiled from 1990-1999 bridged-race intercensal population estimates and 2000-2009 (Vintage 2009) bridged-race postcensal population estimates, on CDC WONDER On-line Database. Accessed at wonder.cdc.gov/bridged-race-v2009.html on Jul 11, 2011 7:49:52 PM poverty: 1. Source : U.S. Bureau of the Census, Current Population Survey, Annual Social and Economic Supplements, Table 21 Number of Poor and Poverty Rate, by State: 1980-2009. urate: 1. Unemployment Rate, Annual Average 2. Source: Bureau of Labor Statistics 3. Average state unemployment rate for year