Survey of Consumer Finances, Inheritance Extract

An Extract from the survey of consumer finances for studying networth and ineritance, from multiple years

federalreserve.gov-consumer_finances-2016e2019-inherit-1.2.6. Modified 2020-12-23T22:43:08

Resources

inherit_scf_16_19. Extract of the 2016 and 2019 SCF for inheritance and networth,uninflated
inherit_scf_16_19_i. Extract of the 2016 and 2019 SCF for inheritance and networth, inflated to 2020 dollars

Documentation

This is an extract of the 2016 and 2019 Survey of Consumer Finances, with extracted variables and recoded variables oriented toward studying inheritance.

Documentation Links

Documentation Page

Images

Net Worth by Income Percentile and Race

Contacts

Wrangler
Eric Busboom, Civic Knowledge

Data Dictionary

inherit_scf_16_19

Column Name	Data Type	Description
year	integer	Year of the SCL reelase the record was drawn from
case_id	integer
record_id	integer
implicate_id	integer	Impicate number, 1 to 5
age_1	integer	Age of first household adult
age_2	integer	Age of second household adult.
hisp	integer	Is the HH Hispanic
race	string	Simpified race for HH
addtional_race	integer
unusual_income	integer
ed_1	string	Education of person 1
ed_2	string	Education of person 2
ed_mother_1	string	Education of person 1’s mother
ed_father_1	string	Education of person 1’s father
ed_mother_2	string	Education of person 2’s mother
ed_father_2	string	Education of person 2’s father
occ_1	integer	Occupation of person 1
occ_2	integer	Occupation of person 2
gi_other_value	integer
fin_risk	integer	Tolerance for financial risk
shop_credit	integer
shop_credit_2	integer
fin_know	integer
borrow_vacation	integer	Is R willing to borrow to pay for a vacation.
plan_horizon	integer
spend_exceeds	integer	Does spending exceed income?
spend_exceeds_excl_house	integer	Does spending, excluding house payments, exceed income?
wt0	number	HH weight
gi_type_1	string
gi_value_1	integer
gi_year_1	integer
gi_from_1	integer
gi_type_2	string
gi_value_2	integer
gi_year_2	integer
gi_from_2	integer
gi_type_3	string
gi_value_3	integer
gi_year_3	integer
gi_from_3	integer
networth	number
income	number
nwcat	integer
nwpctlecat	integer	Networth percentile category
norminc	number	Normal income
ninccat	integer	Normal income category
ninc2cat	integer	Normal income category, with fewer categories
nincpctlecat	integer	Normal income percentil category
occat1	integer	Occupational category for person 1
occat2	integer	Occupational category for person 2
edcl	string	Educational class
lifecl	integer	Life stage category
famstruct	integer	Family structure category
married	integer	Is person 1 married?
agecl	string	Age group category
housecl	integer	House ownership category
racecl	integer	Race category
racecl4	integer	Race, with 4 categories
asset	number
liq	number
bond	number
fin	number
nfin	number
debt	number
indcat	integer
equity	number
homeeq	number
revpay	number
bnkruplast5	integer
debt2inc	number
hsaving	integer
saved	integer
education	string
occ	integer
lt_planner	integer
nincpctle	integer
ninc	integer
nwpctle	integer
gi_sum	integer	Sum of the value of gift, trust or inheritance transfers
n_gift	integer	Number of gift transfers
n_inherit	integer	Number of inheritance transfers
n_trust	integer	Number of trust transfers
n_transfer	integer	Number of gift, trust or inheritance transfers
any_transfer	integer	Has HH recieved any transfer?
any_inherit	integer	Has HH recieved and inheritance?
hhsize	integer	Household size. Actually the number of financially contributing adults in the analysis unit, either 1 or 2.
networthpc	number	Networth divided by hhsize
assetpc	number	Assets divided by hhsize
gi_pv_10	number	Value of each gift or transfer, compounded ot the present at 10%
gi_pv_7	number	Value of each gift or transfer, compounded ot the present at 7%
gi_pv_5	number	Value of each gift or transfer, compounded ot the present at 5%
gi_value_cd	number	Sum of transfers, with each transfer inflated to current dollars

References

Urls used in the creation of this data package.

metapack+http://library.metatab.org/federalreserve.gov-consumer_finances.csv. Survey of consumer finances data packages
cpi. Consumer Price Index

Packages

s3 s3://library.metatab.org/federalreserve.gov-consumer_finances-2016e2019-inherit-1.2.6.csv
csv http://library.metatab.org/federalreserve.gov-consumer_finances-2016e2019-inherit-1.2.6.csv
source https://github.com/insights-civickowledge-com/survey_consumer_finances.git

Accessing Data in Vanilla Pandas

import pandas as pd


inherit_scf_16_19_df =  pd.read_csv('http://library.metatab.org/federalreserve.gov-consumer_finances-2016e2019-inherit-1.2.6/data/inherit_scf_16_19.csv')
inherit_scf_16_19_i_df =  pd.read_csv('http://library.metatab.org/federalreserve.gov-consumer_finances-2016e2019-inherit-1.2.6/data/inherit_scf_16_19_i.csv')

Accessing Package in Metapack

import metapack as mp
pkg = mp.open_package('http://library.metatab.org/federalreserve.gov-consumer_finances-2016e2019-inherit-1.2.6.csv')

# Create Dataframes
inherit_scf_16_19_df = pkg.resource('inherit_scf_16_19').dataframe()
inherit_scf_16_19_i_df = pkg.resource('inherit_scf_16_19_i').dataframe()