Racial differences in patterns of wealth accumulation

Journal of Human Resources

Volumn 39, Issue 1, 2004, Pages 193-233

  Gittleman, Maury ^a   Wolff, Edward N ^b  

^a BUREAU OF LABOR STATISTICS   (United States)

^b NEW YORK UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

AFRICAN AMERICAN; INCOME; RACIAL DISPARITY; SAVINGS BEHAVIOR; WAGE GAP;

NORTH AMERICA; UNITED STATES;

EID: 1942499608     PISSN: 0022166X     EISSN: None     Source Type: Journal    
DOI: 10.2307/3559010     Document Type: Article

References (53)

1. Ackerman, Bruce, and Anne Alstott. 1999. The Stakeholder Society. New Haven: Yale University Press.
2. Avery, Robert B., and Michael S. Rendall. 1997. "The Contribution of Inheritances to Black-White Wealth Disparities in the United States." BLCC Working Paper #97-08, June.
3. Altonji, Joseph G., and Ulrich Doraszelski. 2001. "The Role of Permanent Income and Demographics in Black/White Differences in Wealth." NBER Working Paper No. 8473, September.
4. Barsky, Robert, John Bround, Kenvin Charles, and Joe Lupton. 2001. "Accounting for the Black-White Wealth Gap: A Nonparametric Approach." NBER Working Paper No. 8466, September.
5. Beverly, Sondra. "How Can the Poor Save? Theory and Evidence on Saving in Low-Income Households." Center for Social Development, Washington University, Working Paper No. 97-3, July.
6. Blau, Francine D., and John W. Graham. 1990. "Black-White Differences in Wealth and Asset Composition." Quarterly Journal of Economics 105(2):321-39.
7. Blanchflower, David G., Phillip B. Levine, and David J. Zimmerman. 1998. "Discrimination in the Small Business Credit Market." NBER Working Paper No. 6840, December.
8. Blinder, Alan S. 1973. "Wage Discrimination: Reduced Form and Structural Estimates." Journal of Human Resources 8(4):436-55.
9. Browning, Martin, and Annamaria Lusardi. 1996. "Household Saving: Micro Theories and Micro Facts." Journal of Economic Literature 34(4):1797-1855.
10. Browning, Martin, and Thomas F. Crossley. 2001. "The Life-Cycle Model of Consumption and Saving." Journal of Economic Perspectives 15(3):3-22.
11. Burkhauser, R. V., and G. J. Duncan. 1989. "Economic Risks of Gender Roles: Income Loss and Life Events over the Life Course." Social Science Quarterly 70(1):3-23.
12. Carney, Stacie, and William G. Gale. 1999. "Asset Accumulation among Low-Income Households." Brookings Discussion Paper in Economic Studies, May.
13. Carroll, Christopher D. 1997. "Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis." Quarterly Journal of Economics 112(1):1-55.
14. Carroll, Christopher D., Karen E. Dynan, and Spencer D. Krane. 1999. "Unemployment Risk and Precautionary Wealth." Federal Reserve Board, Finance and Economics Discussion Series 1999-15, April.
15. Charles, Kerwin Kofi, and Erik Hurst, Forthcoming. "The Transition to Home Ownership and the Black-White Wealth Gap." Review of Economics and Statistics.
16. Chiteji, Ngina S., and Frank P. Stafford. 1999. "Portfolio Choices of Parents and Their Children as Young Adults: Asset Accumulation by African American Families." American Economic Review 89(2 ):377-80.
17. Conley, Dalton. 1999. Being Black, Living in the Red: Race, Wealth and Social Policy in America. Berkeley: University of California Press.
18. Denton, Nancy A. 2001. "Housing as a Means of Asset Accumulation: A Good Strategy for the Poor?" In Assets for the Poor: The Benefits of Spreading Asset Ownership, ed. Thomas M. Shapiro and Edward N. Wolff, 232-66. New York: Russell Sage Foundation.
19. Dynan, Karen E., Jonathan Skinner, and Stephen P. Zeldes. 2000. "Do the Rich Save More?" NBER Working Paper No. 7906, September.
20. Fairlie, Robert W. 1999. "The Absence of African American Owned Business: An Analysis of the Dynamics of Self-Employment." Journal of Labor Economics 17(1):80-108.
21. Fairlie, Robert W., and Bruce D. Meyer. 1996. "Ethnic and Racial Self-Employment Differences and Possible Explanations." Journal of Human Resources 31(4):757-93.
22. Fairlie, Robert W., and Bruce D. Meyer. 1997. "Trends in Self-Employment among White and Black Men: 1910-1990." Unpublished.
23. Friedman, Milton. 1953. "Choice, Chance, and the Personal Distribution of Income." Journal of Political Economy 61(4):277-90.
24. Friedman, Milton. 1957. A Theory of the Consumption Function. Princeton: Princeton University Press.
25. Gittleman, Maury, and Mary Joyce. 1996. "Earnings Mobility and Long-Run Inequality: An Analysis Using Matched CPS Data." Industrial Relations 35(2):180-96.
26. Hill, Martha S. 1992. The Panel Study of Income Dynamics: A User's Guide. Newbury Park, Calif.: Sage.
27. Hubbard, R. Glenn, Jonathan Skinner, and Stephen P. Zeldes. 1995. "Precautionary Saving and Social Insurance." Journal of Political Economy 103(2):360-99.
28. Huggett, Mark, and Gustavo Ventura. 2000. "Understanding Why High Income Households Save More Than Low Income Households." Journal of Monetary Economics 45(2):361-97.
29. Hurst, Erik, Ming Ching Luoh, and Frank P. Stafford. 1998. "The Wealth Dynamics of American Families, 1984-94." Brookings Papers on Economic Activity 1:267-337.
30. Hurst, Erik, and James P. Ziliak. 2001. "Welfare Reform and Household Saving." Unpublished.
31. Jianakoplos, Nancy Ammon, Paul L. Menchik, and Owen F. Irvine. 1989. "Using Panel Data to Assess the Bias in Cross-Sectional Inferences of Life-Cycle Changes in the Level and Composition of Household Wealth." In The Measurement of Saving, Investment, and Wealth, ed. Robert E. Lipsey and Helen Stone Tice, 553-640. National Bureau of Economic Research Studies in Income and Wealth, 52. Chicago and London: University of Chicago Press.
32. Juster, F. Thomas, James P. Smith, Frank Stafford. 1998. "The Measurement and Structure of Household Wealth." Unpublished.
33. Kennickell, Arthur B., and Martha Starr-McCluer. 1997a. "Household Saving and Portfolio Change: Evidence from the 1983-89 SCF Panel." Review of Income and Wealth 43(4): 381-99.
34. Kennickell, Arthur B., and Martha Starr-McCluer. 1997b. "Retrospective Reporting of Household Wealth: Evidence from the 1983-89 Survey of Consumer Finances." Jounral of Business & Economic Statistics 15(4): 452-63.
35. Kennickell, Arthur B., and Annika E. Sundén. 1997. "Pensions, Social Security and the Distribution of Wealth." Board of Governors of the Federal Reserve System, November.
36. Lawrance, Emily C. 1991. "Poverty and the Rate of Time Preference: Evidence from Panel Data." Journal of Political Economy 99(1):54-77.
37. Long, James E., and Steven B. Caudill. 1992. "Racial Differences in Homeownership and Housing Wealth." Economic Inquiry 30(1):83-100.
38. Lupton, Joseph, and Frank Stafford. 2000. "Five Years Older: Much Richer or Deeper in Debt?" University of Michigan. Unpublished.
39. Mazumder, Bhashkar. 2001. "The Mis-Measurement of Permanent Earnings: New Evidence from Social Security Earnings Data." Federal Reserve Bank of Chicago, WP2001-24, October.
40. Menchik, Paul L., and Nancy Ammon Jianakoplos. 1997. "Black-White Wealth Inequality: Is Inheritance the Reason?" Economic Inquiry 35(2):428-42.
41. Munnell, Alicia H., Geoffrey M.B. Tootell, Lynn E. Browne, and James McEneaney. 1996. "Mortgage Lending in Boston: Interpreting HMDA Data." American Economic Review 86(1):25-53.
42. Oaxaca, Ronald L., and Michael R. Ransom. 1994. "On Discrimination and the Decomposition of Wage Differentials." Journal of Econometrics 61(1):5-21.
43. Oliver, Melvin L., and Thomas M. Shapiro. 1995. Black Wealth/White Wealth: A New Perspective on Racial Inequality. New York and London: Routledge.
44. Schreiner, Mark, Micheal Sherraden, Margaret Clancy, Lissa Johnson, Tami Curley, Michael Grinstein-Weiss, Min Zahn, and Sondra Beverly. 2001. "Savings and Asset Accumulation in Individual Development Accounts." Center for Social Development, George Warren Brown School of Social Work, Washington University, February.
45. Sherraden, Michael. 1991. Assets and the Poor: A New American Welfare Policy. New York: Sharpe.
46. Survey Research Center. 1992. A Panel Study of Income Dynamics: Procedures and Tape Codes (documentation), 1989 Interviewing Year, Volume I, Wave XXII, Institute for Social Research, University of Michigan, Ann Arbor.
47. U.S. Census Bureau. 1999, accessed. "Race and Hispanic Origin of Householder-Households by Median and Men Income: 1967 to 1997 (Table H-5)." http://www.census.gov/hhes/income/histinc/h05.htn
48. Venti, Steven F, and David A. Wise. 1998. "The Cause of Wealth Dispersion at Retirement: Choice or Chance?" American Economic Review 88(2):185-91.
49. Wilhelm, Mark O. 2001. "The Role of Intergenerational Transfers in Spreading Asset Ownership." In Assets for the Poor: The Benefits of Spreading Asset Ownership, ed. Thomas M. Shapiro and Edward N. Wolff, 132-61. New York: Russell Sage Foundation.
50. Wolff, Edward N. 1988. "Social Security, Pensions and the Life Cycle Accumulation of Wealth: Some Empirical Tests." Annales d'Economie et de Sratistique 9, Jan.-Mar: 199-226.
51. Wolff, Edward N. 1994. "Trends in Household Wealth in the United States, 1962-83 and 1983-89." Review of Income and Wealth 40(2):143-74.
52. Wolff, Edward N. 1996. "Time for a Wealth Tax?" Boston Review 21(1):3-6.
53. Wolff, Edward N. 1998. "Recent Trends in the Size Distribution of Household Wealth." Journal of Economic Perspectives 12(3):131-50.