Scf Analysis of House Hold Debt

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SCF Analysis Regarding Household Debt

by Andrew Perdigon
Alex Bykovsky
Alexander Pankevich
Kenza Curry

Andrew Perdigon Final Project
Alex Bykovsky
Alexander Pankevich
Kenza Curry
SCF Analysis Regarding Household Debt
In our final project, we will be looking at U.S. private debt, held by households. We will focus our research on aggregate balances on mortgage loans, vehicle loans, education loans, credit card debt and other private debt related fields, and in doing so we will seek to identify the correlation between these types of debt and factors such as savings, education level, and various types of classifications of households. Our main data comes from the Survey of Consumer Finances from the Federal Reserve, which contains over 22,000 observations and 170 explanatory variables.
The SCF is intended to collect detailed information on all household assets (including residences, other real estate, businesses, all types of financial assets, pensions, and other assets) and liabilities (including mortgages, installment loans, credit card debt, pension loans, and other debts) along with auxiliary information useful for analyzing the wealth data (income, demographics, marital history, employment history, attitudes, etc.) (Kennickell 1998)

Using SPSS we will analyze this data and determine what correlations exist between the variables and our dependent variable, household debt. Other government sites we will examine are the Bureau of Labor Statistics and The International Monetary Fund, but most of our regressions and other data information will come from the Federal Reserve data.
We examine this issue on a macroeconomic level, prior to the recession of 2008. With the extensive amount of research that has been conducted by media institutions and financial institutions, it is fair to come to the conclusion that one of the key…...

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