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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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Author Info

  • Cobb-Clark, Deborah A.

    ()
    (University of Melbourne)

  • Hildebrand, Vincent A.

    ()
    (York University, Canada)

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 differences, 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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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 674.

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Length: 45 pages
Date of creation: Dec 2002
Date of revision:
Publication status: published in: Review of Income and Wealth, 2006, 51 (1), 17-42
Handle: RePEc:iza:izadps:dp674

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Keywords: immigrants; wealth; asset portfolios;

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