Wealth Mobility in America: A View from the National Longitudinal Survey
We depict and analyze wealth mobility in a national sample of nearly 4,000 households interviewed by the National Longitudinal Survey over a ten year period from the mid 1960s to the mid 1970s. A transition matrix, the Shorrocks measure, average decile position for various subgroups, and wealth in period two compared with wealth in period one are used to describe patterns of wealth mobility. These results and regression models of change in percentile position, of persistence in the top, of movement into the top, of persistence into the bottom, and of movement into the bottom identify winners and losers. The losers include single people, blacks, and those who experienced marital disruption, while winners were the skilled and more educated. These findings have implications for the interpretation of cross-sectional measures of inequality, the explanation of long-term trends in wealth mobility, and the consequences of recent trends in the wage structure.
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| Length: | |
| Date of creation: | Aug 1992 |
| Date of revision: | |
| Handle: | RePEc:nbr:nberwo:4137 |
| Note: | DAE LS |
| Contact details of provider: | Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A. Phone: 617-868-3900 Web page: http://www.nber.org Email: More information through EDIRC
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References listed on IDEAS
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- E. Kenneth Grant & John Vanderkamp, 1980. "The Effects of Migration on Income: A Micro Study with Canadian Data, 1965-71," Canadian Journal of Economics, Canadian Economics Association, vol. 13(3), pages 381-406, August.
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"Poverty and Prosperity: A Longitudinal Study of Wealth Accumulation, 1850-1860,"
The Review of Economics and Statistics,
MIT Press, vol. 72(2), pages 275-85, May.
- Richard H. Steckel, 1989. "Poverty and Prosperity: A Longitudinal Study of Wealth Accumulation, 1850-1860," NBER Historical Working Papers 0008, National Bureau of Economic Research, Inc.
- Wolff, Edward N, 1992. "Changing Inequality of Wealth," American Economic Review, American Economic Association, vol. 82(2), pages 552-58, May.
- Maria J. Hanratty & Rebecca M. Blank, 1992. "Down and Out in North America: Recent Trends in Poverty Rates in the United States and Canada," The Quarterly Journal of Economics, Oxford University Press, vol. 107(1), pages 233-254.
- White, Betsy Buttrill, 1978. "Empirical Tests of the Life Cycle Hypothesis," American Economic Review, American Economic Association, vol. 68(4), pages 547-60, September.
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