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Title: Black-White Differences in Wealth and Asset Composition
Resulting in 1 citation.
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Blau, Francine D. Graham, John W. |
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Black-White Differences in Wealth and Asset Composition Quarterly Journal of Economics 105,2 (May 1990): 321-339. Also: http://qje.oxfordjournals.org/content/105/2/321.abstract Cohort(s): Young Men, Young Women Publisher: Wiley Online Keyword(s): Assets; Income; Racial Differences; Transfers, Family; Wealth Permission to reprint the abstract has not been received from the publisher. Racial differences in the magnitude and composition of wealth are examined using data from the 1976 and 1978 NLS of Young Men and Young Women. On average, it is found that: (1) young black families hold 18% of the wealth of young white families; and (2) these black families hold their wealth in proportionately different forms. Blacks share a variety of characteristics that may lower their net worth relative to whites, including lower income and such demographic factors as a higher incidence of central city residence and families with single heads. The income difference is found to be the largest single factor explaining racial differences in wealth. However, even after controlling for income and other demographic factors, as much as 3/4 of the wealth gap remains. The causes of these differences are explored. It is concluded that racial differences in intergenerational transfers and, to a lesser extent, barriers to the accumulation of business and home equity most likely play a role. [ABI/INFORM] |
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Bibliography Citation
Blau, Francine D. and John W. Graham. "Black-White Differences in Wealth and Asset Composition." Quarterly Journal of Economics 105,2 (May 1990): 321-339.
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