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  1. Accounting for racial wealth disparities in the United States
    Author: Thompson, Jeffrey P.; Suárez, Gustavo A.
    Published: [2019]
    Publisher:  Federal Reserve Bank of Boston, [Boston, MA]

    Using data from the Survey of Consumer Finances, this paper updates and extends previous research on the racial wealth gap in the United States. We explore several hypotheses that help explain differential wealth accumulation by racial groups,... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 82
    Inter-library loan:
    No inter-library loan

     

    Using data from the Survey of Consumer Finances, this paper updates and extends previous research on the racial wealth gap in the United States. We explore several hypotheses that help explain differential wealth accumulation by racial groups, including the importance of receiving inheritances and other financial support from relatives and the conditions in local real estate markets. By exploring the disparities among white, black, and Hispanic families, we make new contributions to the literature. We find that observable factors account for the entire wealth gap between white and Hispanic families and most of the gap between white and black families. Differences in human capital, demographics, and family financial support each make substantial contributions to the wealth gaps we observe between white and nonwhite families. Yet a substantial portion of the wealth gap between white and black families remains unaccounted for after a detailed decomposition. This unexplained portion is greater at the top of the wealth distribution.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/227928
    Series: Working papers / Federal Reserve Bank of Boston ; no. 19, 13
    Subjects: racial wealth gap; inequality; inheritance; savings
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  2. On the retirement effect of inheritance
    heterogeneity and the role of risk aversion
    Author: Garbinti, Bertrand; Georges-Kot, Simon
    Published: [2019]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    This paper provides new insights on the effect of inheritance receipt on retirement. We build on lifelong information on inheritances received and labor market transitions available for respondents of the French Wealth Survey. This feature allows us... more

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    Resolving-System (kostenfrei)
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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 534
    Inter-library loan:
    No inter-library loan

     

    This paper provides new insights on the effect of inheritance receipt on retirement. We build on lifelong information on inheritances received and labor market transitions available for respondents of the French Wealth Survey. This feature allows us to compare current retirement rates among current and future inheritors. Chances of current retirement are 40% higher among current inheritors than among individuals who will inherit in the next two years, but there is substantial heterogeneity in this effect across socio-demographic groups. The effect is also stronger for individuals with a higher risk aversion, which we interpret with a simple theoretical model.

     
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    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289934848
    Other identifier:
    hdl: 10419/208256
    Series: Working paper series / European Central Bank ; no 2222 (January 2019)
    Subjects: pension scheme; inheritance; labour market; job vacancy; wealth; Retirement; inheritance; labor supply; risk aversion
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen