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Asset Poverty in The United States: Its Persistence in an Expansionary Economy

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Author Info
Asena Caner, Edward N. Wolff

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Abstract

From this paper's Preface, by Dr. Dimitri B. Papadimitriou, President: Economic growth and a rising stock market in the 1990s gave the impression that everyone was accumulating wealth and asset poverty rates were declining. The impression was supported by the official, income-based poverty measure, which exhibited a sharp decline. According to Senior Scholar Edward N. Wolff and Research Scholar Asena Caner, poverty measures should include wealth as well as income. Their study of asset poverty in the United States between 1984 and 1999 focuses on the lower end of the wealth distribution and shows that asset poverty rates did not decline during the period studied, and that the severity of poverty increased. It also shows that asset poverty is much more persistent than income poverty.

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Paper provided by Levy Economics Institute, The in its series Economics Public Policy Brief Archive with number 76.

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Handle: RePEc:lev:levppb:76

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  1. Rendall, Michael S & Speare, Alden, Jr, 1993. "Comparing Economic Well-Being among Elderly Americans," Review of Income and Wealth, Blackwell Publishing, vol. 39(1), pages 1-21, March.
  2. Maury Gittleman & Edward N. Wolff, 2000. "Racial Wealth Disparities: Is the Gap Closing?," Macroeconomics 0004058, EconWPA. [Downloadable!]
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  3. Ruggles, Patricia & Williams, Roberton, 1989. "Longitudinal Measures of Poverty: Accounting for Income and Assets over Time," Review of Income and Wealth, Blackwell Publishing, vol. 35(3), pages 225-43, September.
  4. Crystal, Stephen & Shea, Dennis, 1990. "The Economic Well-Being of the Elderly," Review of Income and Wealth, Blackwell Publishing, vol. 36(3), pages 227-47, September.
  5. Foster, James & Greer, Joel & Thorbecke, Erik, 1984. "A Class of Decomposable Poverty Measures," Econometrica, Econometric Society, vol. 52(3), pages 761-66, May. [Downloadable!] (restricted)
  6. Richard B. Freeman, 2001. "The Rising Tide Lifts...?," NBER Working Papers 8155, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-11-12.

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