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THE WEALTH MOBILITY OF MEN AND WOMEN DURING THE 1960s AND 1970s

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  • Richard H. Steckel
  • Jayanthi Krishnan

Abstract

Research on poverty and inequality is dominated by cross-section studies that are useful but disguise change over time. Investigation of change requires longitudinal data, which are relatively rare and expensive. This paper researches wealth mobility in a national sample of 4,255 households monitored in the National Longitudinal Surveys of Older Men and of Mature Women from the mid-1960s to the mid-1970s. Our measure of wealth is net family assets, excluding automobiles. We present descriptive measures and estimate econometric models of mobility, including persistence in the lower and the upper end of the wealth distribution, and movement into the upper and the lower end of the wealth distribution. The results place inequality measures in perspective and shed light on mechanisms that influence household wealth mobility. The gainers were farmers and those with skilled jobs or high levels of education, while groups that fell behind included single people, blacks, and families disrupted by divorce or death of a spouse. Copyright © 2006 The Authors; Journal compilation © International Association for Research in Income and Wealth 2006.

Suggested Citation

  • Richard H. Steckel & Jayanthi Krishnan, 2006. "THE WEALTH MOBILITY OF MEN AND WOMEN DURING THE 1960s AND 1970s," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 52(2), pages 189-212, June.
  • Handle: RePEc:bla:revinw:v:52:y:2006:i:2:p:189-212
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    1. Edward C. Prescott, 1986. "Theory ahead of business cycle measurement," Quarterly Review, Federal Reserve Bank of Minneapolis, pages 9-22.
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    Cited by:

    1. Hans A. Holter, 2015. "Accounting for cross‐country differences in intergenerational earnings persistence: The impact of taxation and public education expenditure," Quantitative Economics, Econometric Society, vol. 6(2), pages 385-428, July.
    2. Thomas Y. Mathä & Alessandro Porpiglia & Eva Sierminska, 2011. "The Immigrant/Native Wealth Gap in Germany, Italy and Luxembourg," BCL working papers 57, Central Bank of Luxembourg.
    3. Stefan Hochguertel & Henry Ohlsson, 2012. "Who is at the Top? Wealth Mobility over the Life Cycle," Tinbergen Institute Discussion Papers 12-004/3, Tinbergen Institute.
    4. Hans A. Holter, 2015. "Accounting for cross‐country differences in intergenerational earnings persistence: The impact of taxation and public education expenditure," Quantitative Economics, Econometric Society, vol. 6(2), pages 385-428, July.
    5. Edward Wolff & Maury Gittleman, 2014. "Inheritances and the distribution of wealth or whatever happened to the great inheritance boom?," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, pages 439-468.

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