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Rural and Urban Differences in Household Wealth Accumulation: What Role Do Demographics, Wages and Property Values Play?

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  • Marre, Alexander W.

Abstract

Building on recent literature on rural wealth creation, this paper explores the dynamics of household net worth accumulation for residents in metro, nonmetro, and nonmetro-nonadjacent areas and seeks the drivers of differences in rural and urban household wealth and wealth accumulation. Using data from the Panel Study of Income Dynamics (PSID), regressions of net worth -- including financial capital, home equity, net value of farm and business assets and other property -- are estimated for a sample of households between 1999 and 2009. The results show that nonmetro and nonadjacent effects on household net worth are explained partly by differences in demographic composition, wages and property values.

Suggested Citation

  • Marre, Alexander W., 2014. "Rural and Urban Differences in Household Wealth Accumulation: What Role Do Demographics, Wages and Property Values Play?," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170473, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:170473
    DOI: 10.22004/ag.econ.170473
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    References listed on IDEAS

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    1. Edward N. Wolff, 2007. "Recent Trends in Household Wealth in the United States: Rising Debt and the Middle-Class Squeeze," Economics Working Paper Archive wp_502, Levy Economics Institute.
    2. John Pender & Alexander Marré & Richard Reeder, 2012. "Rural Wealth Creation: Concepts, Measures, and Strategies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(2), pages 535-541.
    3. Maria Akers & Jason Henderson, 2009. "Recession catches rural America," Economic Review, Federal Reserve Bank of Kansas City, vol. 94(Q I), pages 65-87.
    4. Alexander Marré & John Pender, 2013. "The Distribution Of Household Net Worth Within And Across Rural Areas: Are There Links To The Natural Resource Base?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(2), pages 457-462.
    5. Bruce Weber & Leif Jensen & Kathleen Miller & Jane Mosley & Monica Fisher, 2005. "A Critical Review of Rural Poverty Literature: Is There Truly a Rural Effect?," International Regional Science Review, , vol. 28(4), pages 381-414, October.
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    8. repec:rre:publsh:v:34:y:2004:i:2:p:137-55 is not listed on IDEAS
    9. Charles Brown & Greg J. Duncan & Frank P. Stafford, 1996. "Data Watch: The Panel Study of Income Dynamics," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 155-168, Spring.
    10. Fisher, Monica G. & Weber, Bruce A., 2004. "Does Economic Vulnerability Depend On Place Of Residence? Asset Poverty Across The Rural-Urban Continuum," Working Papers 18911, Oregon State University, Rural Poverty Research Center (RPRC).
    11. John L. Pender & Jeremy G. Weber & Jason P. Brown, 2014. "Sustainable Rural Development and Wealth Creation," Economic Development Quarterly, , vol. 28(1), pages 73-86, February.
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    13. Edward N. Wolff, 2010. "Recent Trends in Household Wealth in the United States-- Rising Debt and the Middle-Class Squeeze--An Update to 2007," Economics Working Paper Archive wp_589, Levy Economics Institute.
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