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Wealth Mobility in America: A View from the National Longitudinal Survey

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  • Richard H. Steckel
  • Jayanthi Krishnan

Abstract

We depict and analyze wealth mobility in a national sample of nearly 4,000 households interviewed by the National Longitudinal Survey over a ten year period from the mid 1960s to the mid 1970s. A transition matrix, the Shorrocks measure, average decile position for various subgroups, and wealth in period two compared with wealth in period one are used to describe patterns of wealth mobility. These results and regression models of change in percentile position, of persistence in the top, of movement into the top, of persistence into the bottom, and of movement into the bottom identify winners and losers. The losers include single people, blacks, and those who experienced marital disruption, while winners were the skilled and more educated. These findings have implications for the interpretation of cross-sectional measures of inequality, the explanation of long-term trends in wealth mobility, and the consequences of recent trends in the wage structure.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4137.

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Date of creation: Aug 1992
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Handle: RePEc:nbr:nberwo:4137

Note: DAE LS
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Cited by:
  1. John Parman, . "Gender and Intergenerational Mobility: Using Health Outcomes to Compare Intergenerational Mobility Across Gender and Over Time," Working Papers, Department of Economics, College of William and Mary 122, Department of Economics, College of William and Mary.
  2. Andrea Neri, 2009. "Measuring wealth mobility," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area 703, Bank of Italy, Economic Research and International Relations Area.
  3. Mathias Sommer, 2008. "Understanding the trends in income, consumption and wealth inequality and how important are life-cycle effects?," MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy 08160, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.

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