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Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession

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  • Emily Rauscher
  • William Elliott

Abstract

Building on evidence of increasing inequality with the 2008–2009 recession, we asked whether households experienced different financial trajectories through the recession depending on initial income and net worth. Using growth curve models of households headed by young adults in the Panel Study of Income Dynamics, we compared the relationship between initial income and net worth and the rate of change of income and net worth from 1989 to 2011 among households with income above and below $50,000. We found different patterns of income change and different relationships among income, net worth, and their rates of change between high- and low-income categories. Results suggest initial wealth helped to stabilize income and wealth changes among higher income households, reducing financial insecurity. Copyright Springer Science+Business Media New York 2016

Suggested Citation

  • Emily Rauscher & William Elliott, 2016. "Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession," Journal of Family and Economic Issues, Springer, vol. 37(1), pages 29-41, March.
    • Handle: RePEc:kap:jfamec:v:37:y:2016:i:1:p:29-41
    DOI: 10.1007/s10834-015-9442-7
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    Cited by:

    1. Shane Enete & Martin Seay & Sarah Asebedo & David Wang & Megan McCoy, 2022. "Understanding the influence of emotion on both time and money: applying the broaden and build theory," SN Business & Economics, Springer, vol. 2(5), pages 1-24, May.
    2. Tamara D. Afifi & Sharde Davis & Anne F. Merrill & Samantha Coveleski & Amanda Denes & Ariana F. Shahnazi, 2018. "Couples’ Communication About Financial Uncertainty Following the Great Recession and its Association with Stress, Mental Health and Divorce Proneness," Journal of Family and Economic Issues, Springer, vol. 39(2), pages 205-219, June.
    3. Craig Gundersen & David R. Just & Judith Bartfeld & J. Michael Collins, 2017. "Food Insecurity, Financial Shocks, and Financial Coping Strategies among Households with Elementary School Children in Wisconsin," Journal of Consumer Affairs, Wiley Blackwell, vol. 51(3), pages 519-548, November.
    4. Terri Friedline & Zibei Chen & So’Phelia Morrow, 2021. "Families’ Financial Stress & Well-Being: The Importance of the Economy and Economic Environments," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 34-51, July.
    5. Ashley Pullman & Britta Gauly & Clemens M. Lechner, 2021. "Short-term earnings mobility in the Canadian and German context: the role of cognitive skills," Journal for Labour Market Research, Springer;Institute for Employment Research/ Institut für Arbeitsmarkt- und Berufsforschung (IAB), vol. 55(1), pages 1-19, December.

    More about this item

    Keywords

    Income; Inequality; Recession; Wealth;
    All these keywords.

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