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Thompson says criminal justice policies led to creation of prison gangs like Aryan Brotherhood

Schmitz finds job loss before retirement age contributes to weight gain, especially in men

Kimball says Fed should get comfortable with "backtracking"

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Overview of Michigan's advanced research computing resources, Monday, June 27, 9-10:30 am, BSRB - Kahn Auditorium

U-M's Data Science Initiative offers expanded consulting services via CSCAR

Elizabeth Bruch promoted to Associate Professor

Susan Murphy elected to the National Academy of Sciences

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Pfeffer says housing bubble masked decade-long growth in household net worth inequality

a PSC In The News reference, 2014

"The Typical Household, Now Worth a Third Less" - New York Times. 07/26/2014.

This story reports on a recent Russell Sage-funded study highlighting the growth of economic inequality in the U.S. The investigators, Fabian Pfeffer, Sheldon Danziger, and Robert Schoeni, found that net worth declined 36% 2003-2013 for households at the median level, but rose 14% during the same period for households in the top 5%. Although household wealth at the median level appeared to be rising until 2007, much of that gain came from rising home values. Pfeffer, lead author of the study report, says: "The housing bubble basically hid a trend of declining financial wealth at the median that began in 2001."

Related journal article

Researchers:

Fabian T. Pfeffer
Robert F. Schoeni
Sheldon H. Danziger

More Media Coverage:

Business Insider. American Families Haven't Made Much Of A Comeback Since The Great Recession. 7/29/2014.

Washington Post. The middle class is 20 percent poorer than it was in 1984. 7/29/2014.

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