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Wealth and Asset Holdings of Immigrants in Germany

  • Sinning, Mathias

    ()

    (Australian National University)

This paper examines the relative wealth position and the portfolio choices of immigrants in Germany. The empirical findings reveal significant differences in overall wealth and various wealth components between German natives and immigrants. Differences in real estate constitute the major part of different levels of net worth, indicating that disparities in home-ownership rates are responsible for the main part of the overall wealth gap. Moreover, migrants' degree of portfolio diversification is significantly lower than that of comparable natives. The results of a decomposition analysis suggest that differences in wealth and asset holdings may be explained by disparity in educational attainment to a sizable extent, while the effects of income differentials and differences in demographic characteristics are insignificant.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3089.

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Length: 34 pages
Date of creation: Oct 2007
Date of revision:
Handle: RePEc:iza:izadps:dp3089
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  1. Heather Antecol & Deborah A. Cobb-Clark & Stephen J. Trejo, 2003. "Immigration Policy and the Skills of Immigrants to Australia, Canada, and the United States," Journal of Human Resources, University of Wisconsin Press, vol. 38(1).
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  6. Bauer, Thomas K. & Cobb-Clark, Deborah A. & Hildebrand, Vincent A. & Sinning, Mathias, 2007. "A Comparative Analysis of the Nativity Wealth Gap," IZA Discussion Papers 2772, Institute for the Study of Labor (IZA).
  7. Joachim R. Frick & Markus M. Grabka & Jan Marcus, 2007. "Editing and Multiple Imputation of Item-Non-Response in the 2002 Wealth Module of the German Socio-Economic Panel (SOEP)," SOEPpapers on Multidisciplinary Panel Data Research 18, DIW Berlin, The German Socio-Economic Panel (SOEP).
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  22. Catalina Amuedo-Dorantes & Susan Pozo, 2006. "Remittances as insurance: evidence from Mexican immigrants," Journal of Population Economics, Springer;European Society for Population Economics, vol. 19(2), pages 227-254, June.
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  24. 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.
  25. Galor, Oded & Stark, Oded, 1990. "Migrants' Savings, the Probability of Return Migration and Migrants' Performance," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(2), pages 463-67, May.
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  27. Augustin De Coulon & François-Charles Wolff, 2005. "Immigrants at retirement: stay/return or 'va-et-vient'?," LSE Research Online Documents on Economics 19890, London School of Economics and Political Science, LSE Library.
  28. Djajic, Slobodan, 1989. "Migrants in a guest-worker system : A utility maximizing approach," Journal of Development Economics, Elsevier, vol. 31(2), pages 327-339, October.
  29. Deng, Saiying (Esther) & Elyasiani, Elyas & Mao, Connie X., 2007. "Diversification and the cost of debt of bank holding companies," Journal of Banking & Finance, Elsevier, vol. 31(8), pages 2453-2473, August.
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  32. Shamsuddin, Abul F M & DeVoretz, Don J, 1998. "Wealth Accumulation of Canadian and Foreign-Born Households in Canada," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(4), pages 515-33, December.
  33. Schmidt, Christoph M., 1997. "Immigrant performance in Germany: Labor earnings of ethnic German migrants and foreign guest-workers," The Quarterly Review of Economics and Finance, Elsevier, vol. 37(Supplemen), pages 379-397.
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