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Does Economic Vulnerability Depend On Place Of Residence? Asset Poverty Across The Rural-Urban Continuum

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  • Fisher, Monica G.
  • Weber, Bruce A.
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    Abstract

    This paper uses Panel Study of Income Dynamics data for 1989, 1994, and 1999 to examine why some U.S. households are asset poor; that is, why households have insufficient resources to invest in their future or to sustain household members at a basic level during times of economic disruption. The study contributes to an improved understanding of asset poverty's correlates by examining the influence of place of residence; the extant literature has focused on individual-level explanations. We estimate a random-effects logistic model of the probability that an individual is asset poor at a given point in time as a function of household-level (e.g. age, gender, race of the household head and family structure) and place-level (regional and rural-urban continuum) variables. The central finding of the paper is that place of residence is an important determinant of asset poverty, above and beyond the influence of household characteristics. We find that living in a central metropolitan county and in a nonmetropolitan area is associated with a higher risk of being asset poor, all else being equal. Implications for future research are discussed.

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    File URL: http://purl.umn.edu/18911
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    Bibliographic Info

    Paper provided by Oregon State University, Rural Poverty Research Center (RPRC) in its series Working Papers with number 18911.

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    Date of creation: 2004
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    Handle: RePEc:ags:osruwp:18911

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    Postal: 200 Mumford Hall, University of Missouri, Columbia, Missouri 65211
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    Web page: http://www.rprconline.org/index.htm
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    Keywords: Food Security and Poverty;

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    1. Asena Caner & Edward N. Wolff, 2002. "Asset Poverty in the United States, 1984-1999: Evidence from the Panel Study of Income Dynamics," Economics Working Paper Archive wp_356, Levy Economics Institute.
    2. Erik Hurst & Ming Ching Luoh & Frank P. Stafford, 1998. "The Wealth Dynamics of American Families, 1984-94," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 267-338.
    3. Slesnick, Daniel T, 1993. "Gaining Ground: Poverty in the Postwar United States," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 1-38, February.
    4. John Iceland, 1997. "Urban labor markets and individual transitions out of poverty," Demography, Springer, vol. 34(3), pages 429-441, August.
    5. Charles Brown & Greg J. Duncan & Frank P. Stafford, 1996. "Data Watch: The Panel Study of Income Dynamics," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 155-168, Spring.
    6. Stevens, Ann Huff, 1994. "The Dynamics of Poverty Spells: Updating Bane and Ellwood," American Economic Review, American Economic Association, vol. 84(2), pages 34-37, May.
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