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What Explains the Wealth Gap Between Immigrants and the New Zealand Born?

  • John Gibson

    ()

    (University of Waikato and Motu Economic and Public Policy Research)

  • Trinh Le

    ()

    (New Zealand Institute of Economic Research)

  • Steven Stillman

    ()

    (Motu Economic and Public Policy Research)

Immigrants are typically found to have less wealth and hold it in different forms than the native born. These differences may affect both the economic assimilation of immigrants and overall portfolio allocation when immigrants are a large share of the population, as in New Zealand. In this paper, data from the 2001 Household Savings Survey are used to examine wealth differences between immigrants and the New Zealand-born. Differences in the allocation of portfolios between housing and other forms of wealth are described. Unconditional and conditional wealth quantiles are examined using parametric models. Semiparametric methods are used to decompose differences in net worth at different parts of the wealth distribution into the part due to differences in characteristics and the part due to differences in the returns to characteristics.

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Paper provided by Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London in its series CReAM Discussion Paper Series with number 0715.

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Date of creation: Nov 2007
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Handle: RePEc:crm:wpaper:0715
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  1. Maury Gittleman & Edward N. Wolff, 2004. "Racial Differences in Patterns of Wealth Accumulation," Journal of Human Resources, University of Wisconsin Press, vol. 39(1).
  2. Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2006. "The Wealth And Asset Holdings Of U.S.-Born And Foreign-Born Households: Evidence From Sipp Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 52(1), pages 17-42, 03.
  3. Thomas K. Bauer & Deborah A. Cobb-Clark & Vincent A. Hildebrand & Mathias Sinning, 2007. "A Comparative Analysis of the Nativity Wealth Gap," CEPR Discussion Papers 554, Centre for Economic Policy Research, Research School of Economics, Australian National University.
  4. Deborah Cobb-Clark & Vincent A. Hildebrand, 2006. "The Wealth of Mexican Americans," CEPR Discussion Papers 519, Centre for Economic Policy Research, Research School of Economics, Australian National University.
  5. Robert Barsky & John Bound & Kerwin Charles & Joseph Lupton, 2001. "Accounting for the Black-White Wealth Gap: A Nonparametric Approach," NBER Working Papers 8466, National Bureau of Economic Research, Inc.
  6. Zhang, Xuelin, 2003. "The Wealth Position of Immigrant Families in Canada," Analytical Studies Branch Research Paper Series 2003197e, Statistics Canada, Analytical Studies Branch.
  7. John DiNardo & Nicole M. Fortin & Thomas Lemieux, 1995. "Labor Market Institutions and the Distribution of Wages, 1973-1992: A Semiparametric Approach," NBER Working Papers 5093, National Bureau of Economic Research, Inc.
  8. Oaxaca, Ronald L. & Ransom, Michael R., 1994. "On discrimination and the decomposition of wage differentials," Journal of Econometrics, Elsevier, vol. 61(1), pages 5-21, March.
  9. Joop Hartog & Rainer Winkelmann, 2003. "Comparing migrants to non-migrants: The case of Dutch migration to New Zealand," Journal of Population Economics, Springer, vol. 16(4), pages 683-705, November.
  10. Nancy A. Jianakoplos & Paul L. Menchik, 1997. "Wealth Mobility," The Review of Economics and Statistics, MIT Press, vol. 79(1), pages 18-31, February.
  11. John Gibson, 2000. "Sheepskin effects and the returns to education in New Zealand: Do they differ by ethnic groups?," New Zealand Economic Papers, Taylor & Francis Journals, vol. 34(2), pages 201-220.
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