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The wealth and asset holdings of U.S.-born and foreign-born households: Evidence from SIPP data

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  • Cobb-Clark, Deborah A.

    (Australian National University)

  • Hildebrand, Vincent

    (York University and CEPS/INSTEAD)

Abstract

SIPP data are used to analyze the wealth of the U.S. foreign-born population. We find that the median wealth level of U.S.-born couples is 2.3 times the median of foreign-born couples, while the median wealth level of U.S.-born singles is three times that of foreign-born singles. Further, there is a great deal of diversity in wealth within the immigrant population. Diversity in net worth manifests itself primarily in source-region di.erences, while entry-cohort is more closely related to portfolio choices. Established immigrants hold less and recent immigrants hold more financial wealth. An opposite pattern emerges with respect to real estate equity.

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Paper provided by IRISS at CEPS/INSTEAD in its series IRISS Working Paper Series with number 2003-07.

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Date of creation: Apr 2003
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Handle: RePEc:irs:iriswp:2003-07

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