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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
Deborah A. Cobb-Clark
Vincent Hildebrand

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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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Paper provided by McMaster University in its series Social and Economic Dimensions of an Aging Population Research Papers with number 89.

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Length: 51 pages
Date of creation: Jan 2003
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Handle: RePEc:mcm:sedapp:89

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Related research
Keywords: wealth; immigrants;

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Find related papers by JEL classification:
G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
J61 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Geographic Labor Mobility; Immigrant Workers
J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Thomas K. Bauer, & Deborah A. Cobb-Clark & Vincent Hildebrand & Mathias Sinning, 2007. "A Comparative Analysis of the Nativity Wealth Gap," Ruhr Economic Papers 0006, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen. [Downloadable!]
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  2. Mathias Sinning, 2007. "Wealth and Asset Holdings of Immigrants in Germany," Ruhr Economic Papers 0030, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen. [Downloadable!]
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  3. Amelie Constant & Rowan Roberts & Klaus F. Zimmermann, 2007. "Ethnic Identity and Immigrant Homeownership," Discussion Papers of DIW Berlin 726, DIW Berlin, German Institute for Economic Research. [Downloadable!]
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  4. Mathias Sinning, 2006. "Home-ownership and Economic Performance of Immigrants in Germany," RWI Discussion Papers 0045, Rheinisch-Westfälisches Institut für Wirtschaftsforschung. [Downloadable!]
  5. John Gibson & Trinh Le & Steven Stillman, 2007. "What Explains the Wealth Gap between Immigrants and the New Zealand Born?," Working Papers in Economics 07/02, University of Waikato, Department of Economics. [Downloadable!]
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  6. Deborah Cobb-Clark & Vincent A. Hildebrand, 2006. "The Wealth of Mexican Americans," CEPR Discussion Papers 519, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University. [Downloadable!]
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  7. Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2006. "The Portfolio Choices of Hispanic Couples," IZA Discussion Papers 1948, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  8. 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 Social Sciences, Australian National University. [Downloadable!]
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  9. Thomas K. Bauer & Mathias Sinning, 2005. "The Savings Behavior of Temporary and Permanent Migrants in Germany," IZA Discussion Papers 1632, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
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