Racial and Ethnic Differences in Wealth in the Health and Retirement Study
AbstractThis paper examines wealth data in the Health and Retirement Study (HRS). In comparison with asset data in other major surveys, the quality of HRS asset data is high. Missing asset data does remain a problem, however, to which future HRS analysts must remain sensitive. Evidence is presented showing that it is no accident that asset data are missing, and solutions for imputing missing data are developed. Finally, racial and ethnic wealth disparities are large. These minority wealth disparities are due in part to differential inheritances and desired bequests as inequities perpetuate themselves across generations: the disparities are also due to lower minority incomes, poorer health, and an excessively narrow definition of wealth that excludes Social Security and employer pensions.
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Bibliographic InfoPaper provided by EconWPA in its series Labor and Demography with number 0408011.
Length: 26 pages
Date of creation: 16 Aug 2004
Date of revision:
Note: Type of Document - pdf; pages: 26. The Journal of Human Resources, Vol. 30, Supplement, pp. S158-S183, 1995
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Other versions of this item:
- Smith, J.P., 1996. "Racial and Ethnic Differences in Wealth in the Health and Retirement Study," Papers 96-12, RAND - Reprint Series.
- J - Labor and Demographic Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-08-23 (All new papers)
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