Reexamining the Distribution of Wealth in 1870
AbstractThis paper uses data on real and personal property ownership collected in the 1870 Federal Census to explore factors influencing individual wealth accumulation and the aggregate distribution of wealth in the United States near the middle of the nineteenth century. Previous analyses of these data have relied on relatively small samples, or focused on population subgroups. By using the much larger sample available in the Integrated Public Use Microdata Series (IPUMS) we are able to disaggregate the data much more finely than has previously been possible allowing us to explore differences in inequality across space and between different population groups. The data provide strong support for the hypothesis that American industrialization during the nineteenth century resulted in increasing inequality in the distribution of wealth.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 11482.
Date of creation: Jul 2005
Date of revision:
Publication status: published as Rosenbloom, Joshua (ed.) Quantitative Economic History (Routledge Explorations in Economic History). Routledge, 2008.
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Other versions of this item:
- Joshua L. Rosenbloom & Gregory W. Stutes, 2005. "Reexamining The Distribution Of Wealth In 1870," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200501, University of Kansas, Department of Economics, revised Jan 2005.
- N3 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy
- R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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- Steckel, Richard H. & Moehling, Carolyn M., 2001. "Rising Inequality: Trends In The Distribution Of Wealth In Industrializing New England," The Journal of Economic History, Cambridge University Press, vol. 61(01), pages 160-183, March.
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- Ohlsson, Henry & Roine, Jesper & Waldenstrom, Daniel, 2006.
"Long-Run Changes in the Concentration of Wealth: An Overview of Recent Findings,"
Working Paper Series
RP2006/103, World Institute for Development Economic Research (UNU-WIDER).
- Waldenström, Daniel & Ohlsson, Henry & Roine, Jesper, 2007. "Long-Run Changes in the Concentration of Wealth: An Overview of Recent Findings," Working Paper Series 699, Research Institute of Industrial Economics.
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