Chapter

Black-White Differences in Wealth and Asset Composition

John W. Graham

in Gender, Inequality, and Wages

Published in print September 2012 | ISBN: 9780199665853
Published online January 2013 | e-ISBN: 9780191745805 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199665853.003.0015

Series: IZA Prize in Labor Economics

Black-White Differences in Wealth and Asset Composition

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Using data from the 1976 and 1978 National Longitudinal Surveys of young men and young women, this chapter examines racial differences in the magnitude and composition of wealth and the reasons for them. On average, young black families hold 18 percent of the wealth of young white families, and hold their wealth in proportionately different forms. Even after controlling for racial differences in income and other demographic factors, as much as three quarters of the wealth gap remains unexplained. The chapter concludes 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.

Keywords: racial inequality; wealth differentials; wealth gap; racial differences

Chapter.  5315 words. 

Subjects: Macroeconomics and Monetary Economics

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