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The Portfolio Choices of Hispanic Couples

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  • Deborah A. Cobb-Clark
  • Vincent A. Hildebrand

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 Hispanic 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://socserv.mcmaster.ca/sedap/p/sedap147.pdf
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Bibliographic Info

Paper provided by McMaster University in its series Social and Economic Dimensions of an Aging Population Research Papers with number 147.

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Length: 33 pages
Date of creation: Jan 2006
Date of revision:
Handle: RePEc:mcm:sedapp:147

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Keywords: portfolio choices; Hispanic;

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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. Una Okonkwo Osili & Anna Paulson, 2004. "Institutional quality and financial market development: evidence from international migrants in the U.S," Working Paper Series, Federal Reserve Bank of Chicago WP-04-19, Federal Reserve Bank of Chicago.
  4. 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.
  5. Carol Bertaut & Martha Starr-McCluer, 2000. "Household portfolios in the United States," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2000-26, Board of Governors of the Federal Reserve System (U.S.).
  6. Menchik, Paul L & Jianakoplos, Nancy Ammon, 1997. "Black-White Wealth Inequality: Is Inheritance the Reason?," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 35(2), pages 428-42, April.
  7. 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.
  8. 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.
  9. Una Okonkwo Osili & Anna Paulson, 2004. "Prospects for immigrant-native wealth assimilation: evidence from financial market participation," Working Paper Series, Federal Reserve Bank of Chicago WP-04-18, Federal Reserve Bank of Chicago.
  10. 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.
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Cited by:
  1. Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2008. "The Asset Portfolios of Native-Born and Foreign-Born Households," IZA Discussion Papers 3304, Institute for the Study of Labor (IZA).
  2. Sinning, Mathias, 2007. "Wealth and Asset Holdings of Immigrants in Germany," IZA Discussion Papers 3089, Institute for the Study of Labor (IZA).
  3. 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.

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