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Neighborhood wealth distributions

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  • Ioannides, Yannis M.
  • Seslen, Tracey N.

Abstract

This paper uses data from the neighborhood clusters sample of the 1989 American Housing Survey and the Panel Study of Income Dynamics and its 1989 wealth supplement to study the distribution of wealth within US residential neighborhoods. It uses the Bourguignon decomposable inequality index and finds that wealth is more unequally distributed than income, and income more than housing wealth, at all levels of aggregation, that is, neighborhoods, metropolitan areas, regions and the entire US.
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Suggested Citation

  • Ioannides, Yannis M. & Seslen, Tracey N., 2002. "Neighborhood wealth distributions," Economics Letters, Elsevier, vol. 76(3), pages 357-367, August.
    • Handle: RePEc:eee:ecolet:v:76:y:2002:i:3:p:357-367
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    1. Shorrocks, A F, 1980. "The Class of Additively Decomposable Inequality Measures," Econometrica, Econometric Society, vol. 48(3), pages 613-625, April.
    2. Dennis Epple & Holger Sieg, 1999. "Estimating Equilibrium Models of Local Jurisdictions," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 645-681, August.
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    6. Anna Hardman & Yannis Ioannides, 2004. "Income Mixing and Housing in U.S. Cities: Evidence from Neighborhood Clusters of the American Housing Survey," Discussion Papers Series, Department of Economics, Tufts University 0420, Department of Economics, Tufts University.
    7. Bourguignon, Francois, 1979. "Decomposable Income Inequality Measures," Econometrica, Econometric Society, vol. 47(4), pages 901-920, July.
    8. Schelling, Thomas C, 1969. "Models of Segregation," American Economic Review, American Economic Association, vol. 59(2), pages 488-493, May.
    9. Katherine Kiel & Jeffrey Zabel, 1999. "The Impact of Neighborhood Characteristics on House Prices: What Geographic Area Constitutes a Neighborhood?," Working Papers 9905, College of the Holy Cross, Department of Economics.
    10. Ioannides, Yannis M., 2004. "Neighborhood income distributions," Journal of Urban Economics, Elsevier, vol. 56(3), pages 435-457, November.
    11. James E. Foster & Artyom A. Shneyerov, 1999. "A general class of additively decomposable inequality measures," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(1), pages 89-111.
    12. Dennis Epple & Thomas Romer & Holger Sieg, 2001. "Interjurisdictional Sorting and Majority Rule: An Empirical Analysis," Econometrica, Econometric Society, vol. 69(6), pages 1437-1465, November.
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    Citations

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    Cited by:

    1. Rady, Sven & Ortalo-Magné, François, 2002. "Homeownership," Discussion Papers in Economics 28, University of Munich, Department of Economics.
    2. François Ortalo-Magné & Sven Rady, "undated". "Homeownership: Volatile Housing Prices, Low Labor Mobility and High Income Dispersion," Wisconsin-Madison CULER working papers 02-04, University of Wisconsin Center for Urban Land Economic Research.
    3. Haavio, Markus & Kauppi, Heikki, 2009. "House price fluctuations and residential sorting," Bank of Finland Research Discussion Papers 14/2009, Bank of Finland.
    4. Pancs, Romans & Vriend, Nicolaas J., 2007. "Schelling's spatial proximity model of segregation revisited," Journal of Public Economics, Elsevier, vol. 91(1-2), pages 1-24, February.
    5. Daniel Richards, 2004. "Price Discrimination and the Long Boom," Discussion Papers Series, Department of Economics, Tufts University 0419, Department of Economics, Tufts University.
    6. repec:zbw:bofrdp:2009_014 is not listed on IDEAS
    7. Ioannides, Yannis M., 2004. "Neighborhood income distributions," Journal of Urban Economics, Elsevier, vol. 56(3), pages 435-457, November.
    8. Sven Rady, 2002. "Homeownership: Low household mobility, volatile housing prices, high income dispersion," FMG Discussion Papers dp432, Financial Markets Group.
    9. Markus Haavio & Heikki Kauppi, 2006. "House price fluctuations and residential sorting," 2006 Meeting Papers 774, Society for Economic Dynamics.
    10. John Lynham & Philip R Neary, 2021. "Tiebout Meets Schelling Online: Sorting in Cybercommunities," Papers 2110.05608, arXiv.org, revised Jun 2023.
    11. Haavio, Markus & Kauppi, Heikki, 2009. "House price fluctuations and residential sorting," Research Discussion Papers 14/2009, Bank of Finland.
    12. Caridi, I. & Pinasco, J.P. & Saintier, N. & Schiaffino, P., 2017. "Characterizing segregation in the Schelling–Voter model," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 487(C), pages 125-142.
    13. Itzhak Benenson & Erez Hatna & Ehud Or, 2009. "From Schelling to Spatially Explicit Modeling of Urban Ethnic and Economic Residential Dynamics," Sociological Methods & Research, , vol. 37(4), pages 463-497, May.
    14. Pascaline Vincent & Frédéric Chantreuil & Benoït Tarroux, 2012. "Appraising the breakdown of unequal individuals in large French cities," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 201220, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
    15. Elizabeth A. La Jeunesse & Christopher H. Wheeler, 2007. "Neighborhood income inequality," Working Papers 2006-039, Federal Reserve Bank of St. Louis.
    16. Sergio J. Rey & Mark V. Janikas, 2005. "Regional convergence, inequality, and space," Journal of Economic Geography, Oxford University Press, vol. 5(2), pages 155-176, April.
    17. Sergio J. Rey & Mark V. Janikas, 2003. "Convergence and space," Urban/Regional 0311002, University Library of Munich, Germany, revised 16 Nov 2003.

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    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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