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The Portfolio Choices of Hispanic Couples


  • Cobb-Clark, Deborah A.

    () (University of Sydney)

  • Hildebrand, Vincent A.

    () (York University, Canada)


This paper analyzes the portfolio allocations of couple-headed, Hispanic families using Survey of Income and Program Participation (SIPP) data. Our results reveal that Hispanic couples as a group are less wealthy than otherwise similar white couples, although there is substantial variation across Hispanic-origin groups. Much of the disparity in portfolio choices of Hispanics relative to whites appears to stem from these lower wealth levels. Accounting for these wealth disparities, Hispanic couples hold less financial wealth, but more real estate and business equity than do white couples.

Suggested Citation

  • Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2006. "The Portfolio Choices of Hispanic Couples," IZA Discussion Papers 1948, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp1948

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    References listed on IDEAS

    1. Francine D. Blau & John W. Graham, 1990. "Black-White Differences in Wealth and Asset Composition," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 321-339.
    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, March.
    3. Una Okonkwo Osili & Anna L. Paulson, 2004. "Prospects for immigrant-native wealth assimilation: evidence from financial market participation," Working Paper Series WP-04-18, Federal Reserve Bank of Chicago.
    4. Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2006. "The Wealth of Mexican Americans," Journal of Human Resources, University of Wisconsin Press, vol. 41(4).
    5. Edward N. Wolff, 1998. "Recent Trends in the Size Distribution of Household Wealth," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 131-150, Summer.
    6. Frank P. Stafford & Ngina S. Chiteji, 1999. "Portfolio Choices of Parents and Their Children as Young Adults: Asset Accumulation by African-American Families," American Economic Review, American Economic Association, vol. 89(2), pages 377-380, May.
    7. Catalina Amuedo-Dorantes & Susan Pozo, 2002. "Precautionary Saving by Young Immigrants and Young Natives," Southern Economic Journal, Southern Economic Association, vol. 69(1), pages 48-71, July.
    8. Carol C. Bertaut & Martha Starr-McCluer, 2000. "Household portfolios in the United States," Finance and Economics Discussion Series 2000-26, Board of Governors of the Federal Reserve System (U.S.).
    9. Menchik, Paul L & Jianakoplos, Nancy Ammon, 1997. "Black-White Wealth Inequality: Is Inheritance the Reason?," Economic Inquiry, Western Economic Association International, vol. 35(2), pages 428-442, April.
    10. Una Okonkwo Osili & Anna L. Paulson, 2004. "Institutional quality and financial market development: evidence from international migrants in the U.S," Working Paper Series WP-04-19, Federal Reserve Bank of Chicago.
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    Cited by:

    1. Thomas K. Bauer & Deborah A. Cobb‐Clark & Vincent A. Hildebrand & Mathias G. Sinning, 2011. "A Comparative Analysis Of The Nativity Wealth Gap," Economic Inquiry, Western Economic Association International, vol. 49(4), pages 989-1007, October.
    2. Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2008. "The Asset Portfolios of Native-Born and Foreign-Born Households," IZA Discussion Papers 3304, Institute for the Study of Labor (IZA).
    3. Matthew A. Painter & Zhenchao Qian, 2016. "Wealth Inequality Among Immigrants: Consistent Racial/Ethnic Inequality in the United States," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 35(2), pages 147-175, April.

    More about this item


    Hispanic; portfolio choices;

    JEL classification:

    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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