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The Portfolio Choices of Hispanic Couples

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Author Info

  • Cobb-Clark, Deborah A.

    ()
    (University of Melbourne)

  • Hildebrand, Vincent A.

    ()
    (York University, Canada)

Abstract

This paper analyzes the portfolio allocations of couple-headed, Hispanic families using Survey of Income and Program Participation (SIPP) data. Our results reveal that Hispanic couples as a group are less wealthy than otherwise similar white couples, although there is substantial variation across Hispanic-origin groups. Much of the disparity in portfolio choices of Hispanics relative to whites appears to stem from these lower wealth levels. Accounting for these wealth disparities, Hispanic couples hold less financial wealth, but more real estate and business equity than do white couples.

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File URL: http://ftp.iza.org/dp1948.pdf
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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 1948.

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Length: 29 pages
Date of creation: Jan 2006
Date of revision:
Publication status: published in: Social Science Quarterly, 2006, 87 (5), 1344-1363
Handle: RePEc:iza:izadps:dp1948

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Keywords: Hispanic; portfolio choices;

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References

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  1. Deborah Cobb-Clark & Vincent A. Hildebrand, 2006. "The Wealth of Mexican Americans," CEPR Discussion Papers 519, Centre for Economic Policy Research, Research School of Economics, Australian National University.
  2. Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2002. "The Wealth and Asset Holdings of U.S.- Born and Foreign-Born Households: Evidence from SIPP Data," IZA Discussion Papers 674, Institute for the Study of Labor (IZA).
  3. Menchik, Paul L & Jianakoplos, Nancy Ammon, 1997. "Black-White Wealth Inequality: Is Inheritance the Reason?," Economic Inquiry, Western Economic Association International, vol. 35(2), pages 428-42, April.
  4. Edward N. Wolff, 1998. "Recent Trends in the Size Distribution of Household Wealth," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 131-150, Summer.
  5. Carol Bertaut & Martha Starr-McCluer, 2000. "Household portfolios in the United States," Finance and Economics Discussion Series 2000-26, Board of Governors of the Federal Reserve System (U.S.).
  6. Catalina Amuedo-Dorantes & Susan Pozo, 2002. "Precautionary Saving by Young Immigrants and Young Natives," Southern Economic Journal, Southern Economic Association, vol. 69(1), pages 48-71, July.
  7. Una Okonkwo Osili & Anna Paulson, 2004. "Institutional quality and financial market development: evidence from international migrants in the U.S," Working Paper Series WP-04-19, Federal Reserve Bank of Chicago.
  8. Una Okonkwo Osili & Anna Paulson, 2004. "Prospects for immigrant-native wealth assimilation: evidence from financial market participation," Working Paper Series WP-04-18, Federal Reserve Bank of Chicago.
  9. Francine D. Blau & John W. Graham, 1990. "Black-White Differences in Wealth and Asset Composition," NBER Working Papers 2898, National Bureau of Economic Research, Inc.
  10. Frank P. Stafford & Ngina S. Chiteji, 1999. "Portfolio Choices of Parents and Their Children as Young Adults: Asset Accumulation by African-American Families," American Economic Review, American Economic Association, vol. 89(2), pages 377-380, May.
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Cited by:
  1. Mathias Sinning, 2007. "Wealth and Asset Holdings of Immigrants in Germany," SOEPpapers on Multidisciplinary Panel Data Research 59, DIW Berlin, The German Socio-Economic Panel (SOEP).
  2. Thomas K. Bauer & Deborah A. Cobb‐Clark & Vincent A. Hildebrand & Mathias G. Sinning, 2011. "A Comparative Analysis Of The Nativity Wealth Gap," Economic Inquiry, Western Economic Association International, vol. 49(4), pages 989-1007, October.
  3. Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2008. "The Asset Portfolios of Native-born and Foreign-born Households," CEPR Discussion Papers 567, Centre for Economic Policy Research, Research School of Economics, Australian National University.

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