Personal Sector Wealth in the United Kingdom, 1920-56.

In the United Kingdom, there is a wide range of sources that make it possible to construct a series for components of personal wealth for the period 1920-56. The data are consistent with contemporary estimates produced for specific years in the 1920s and 1930s. They indicate that a stock-market boom and the effects of deflation and low interest rates on the nominal value of the national debt took the wealth/income ratio in the mid-1930s to a level not seen again until the housing boom of the 1980s. Copyright 1997 by The International Association for Research in Income and Wealth.