******************************************************************************************
* Replicate Table 4 of "Safe Assets" by Barro, Fernandez-Villaverde, Levintal and Mollerus
******************************************************************************************

clear all

clear mata
set mem 500m 
set maxvar 32767		
set more off
cap log close

clear
use rscfp2019 // can be downloaded from https://www.federalreserve.gov/econres/files/scfp2019s.zip 
 
gen stockfund = stmutf
gen stocks_indirect = equity - stocks - stockfund /* the variable equity is generated by SCF to measure all stock holdings, including indirect holdings of stocks. */
gen realestate_net = houses - mrthel + oresre - resdbt +nnresre  
gen otherphysical = vehic + othnfin
gen allequity = equity + bus

* percentiles

_pctile networth [aweight = wgt], p(50,75,90,95,99)

local p50 = r(r1)
local p75 = r(r2)
local p90 = r(r3)
local p95 = r(r4)
local p99 = r(r5)

gen pctile = 0

replace pctile = 1 if networth<=`p50'
replace pctile = 2 if networth>`p50' & networth<=`p75'
replace pctile = 3 if networth>`p75' & networth<=`p90'
replace pctile = 4 if networth>`p90' & networth<=`p95'
replace pctile = 5 if networth>`p95' & networth<=`p99'
replace pctile = 6 if networth>`p99'

foreach var in "networth" "allequity" "stocks" "stockfund" "bus" "stocks_indirect" "realestate_net" "othnfin"  "vehic"  {
	di "`var'"
	
	gen sum_`var' = 0
	gen share_`var' = 0
	gen port_`var' = 0

	foreach x in 1 2 3 4 5 6 {
		sum `var' [aweight = wgt] if pctile==`x'
		replace sum_`var' = r(sum) if _n==`x'
		}

	* total population
	sum `var' [aweight = wgt]
	replace sum_`var' = r(sum) if _n==7

	* bottom 90
	sum `var' [aweight = wgt] if pctile<=3
	replace sum_`var' = r(sum) if _n==8

	* p90-p95
	sum `var' [aweight = wgt] if pctile==4
	replace sum_`var' = r(sum) if _n==9

	* top 5
	sum `var' [aweight = wgt] if pctile>=5
	replace sum_`var' = r(sum) if _n==10

	* top 1
	sum `var' [aweight = wgt] if pctile==6
	replace sum_`var' = r(sum) if _n==11

	* share in total population
	replace share_`var' = sum_`var'/sum_`var'[7]

	}

keep share*
keep if _n<=11

quietly log using Tables_1_to_4.smcl, append

* Table 4 (transposed)

list share_networth share_allequity share_stocks share_stockfund share_bus share_stocks_indirect share_realestate_net  share_othnfin share_vehic if _n>=8, clean noobs

log close