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The Asset Portfolios of Native-born and Foreign-born Australian Households

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  • DEBORAH A. COBB-CLARK
  • VINCENT A. HILDEBRAND

Abstract

This paper analyses the net worth and asset portfolios of native- and foreign-born Australian families. Specifically, we estimate a system of asset equations with an adding-up constraint imposed to control for diversity in household wealth. We find that the wealth of mixed and native-born couples is not significantly different; however, immigrant-only couples have approximately $162�000 less wealth than native-born couples. Relative to equally wealthy native-born couples, immigrant-only couples hold substantially more wealth in their homes and less in the form of vehicles. Mixed couples and single individuals allocate their wealth across assets in the same way their native-born counterparts. Copyright © 2009 The Economic Society of Australia.

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Bibliographic Info

Article provided by The Economic Society of Australia in its journal Economic Record.

Volume (Year): 85 (2009)
Issue (Month): 268 (03)
Pages: 46-59

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Handle: RePEc:bla:ecorec:v:85:y:2009:i:268:p:46-59

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Cited by:
  1. Asadul Islam & Jaai Parasnis & Dietrich Fausten, 2010. "Immigrant and Native Saving Behaviour in Australia," Development Research Unit Working Paper Series 27-10, Monash University, Department of Economics.
  2. Deborah A. Cobb-Clark & Sonja C. Kassenboehmer & Mathias G. Sinning, 2013. "Locus of Control and Savings," Ruhr Economic Papers 0455, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  3. Vaira-Lucero, Matias & Nahm, Daehoon & Tani, Massimiliano, 2012. "Socioeconomic Assimilation and Wealth Accumulation of Migrants in Australia," IZA Discussion Papers 6969, Institute for the Study of Labor (IZA).
  4. Andrew C. Worthington, 2009. "Household Asset Portfolio Diversification: Evidence from the Household, Income and Labour Dynamics in Australia (HILDA) Survey," Discussion Papers in Finance finance:200908, Griffith University, Department of Accounting, Finance and Economics.

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