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Black-White Differences in Wealth and Asset Composition

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Author Info
Francine D. Blau
John W. Graham

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Abstract

Using data from the 1976 and 1978 National Longitudinal. Surveys of young men and young women, this study examines racial differences in the magnitude and composition of wealth and the reasons for them. On average, young black families hold 18 percent of the wealth of young white families, and hold their wealth in proportionately different forms. Even after controlling for racial differences in income and other demographic factors, as much as three-quarters of the wealth gap remains unexplained. We speculate on the causes for this, concluding that racial differences in intergenerational transfers most likely play an important role.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2898.

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Date of creation: Jul 1990
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Handle: RePEc:nbr:nberwo:2898

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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. Galenson, Marjorie, 1972. "Do Blacks Save More?," American Economic Review, American Economic Association, vol. 62(1), pages 211-16, March. [Downloadable!] (restricted)
  2. Kotlikoff, Laurence J & Summers, Lawrence H, 1981. "The Role of Intergenerational Transfers in Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 706-32, August. [Downloadable!] (restricted)
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  3. William C. Brainard & James Tobin, 1968. "Pitfalls in Financial Model-Building," Cowles Foundation Discussion Papers 244, Cowles Foundation, Yale University. [Downloadable!]
  4. Birnbaum, Howard & Weston, Rafael, 1974. "Home Ownership and the Wealth Position of Black and White Americans," Review of Income and Wealth, Blackwell Publishing, vol. 20(1), pages 103-18, March.
  5. Terrell, Henry S, 1971. "Wealth Accumulation of Black and White Families: The Empirical Evidence," Journal of Finance, American Finance Association, vol. 26(2), pages 363-77, May. [Downloadable!] (restricted)
  6. Kain, John F & Quigley, John Michael, 1972. "Housing Market Discrimination, Homeownership, and Savings Behavior," American Economic Review, American Economic Association, vol. 62(3), pages 263-77, June. [Downloadable!] (restricted)
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