Asset Poverty in The United States: Its Persistence in an Expansionary Economy
AbstractFrom 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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Bibliographic InfoPaper provided by Levy Economics Institute, The in its series Economics Public Policy Brief Archive with number ppb_76.
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- 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, The.
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Economics Public Policy Brief Archive
ppb_66, Levy Economics Institute, The.
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- Gary Dymski, 2009. "Financing Community Development in the US: A Comparison of “War on Poverty” and 1990s-Era Policy Approaches," The Review of Black Political Economy, Springer, vol. 36(3), pages 245-273, December.
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