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Neighborhood Wealth Distributions

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  • Yannis M. Ioannides
  • Tracey N. Seslen

Abstract

This paper uses data from the neighborhood clusters sample of the 1989 American Housing Survey and the Panel Study of Income Dynamics and its 1989 wealth supplement to study the distribution of wealth within US residential neighborhoods. It uses the Bourguignon decomposable inequality index and finds that wealth is more unequally distributed than income, and income more than housing wealth, at all levels of aggregation, that is, neighborhoods, metropolitan areas, regions and the entire US.

Suggested Citation

  • Yannis M. Ioannides & Tracey N. Seslen, 2001. "Neighborhood Wealth Distributions," Discussion Papers Series, Department of Economics, Tufts University 0116, Department of Economics, Tufts University.
  • Handle: RePEc:tuf:tuftec:0116
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    References listed on IDEAS

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    1. Shorrocks, A F, 1980. "The Class of Additively Decomposable Inequality Measures," Econometrica, Econometric Society, vol. 48(3), pages 613-625, April.
    2. Dennis Epple & Holger Sieg, 1999. "Estimating Equilibrium Models of Local Jurisdictions," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 645-681, August.
    3. Epple, Dennis & Platt, Glenn J., 1998. "Equilibrium and Local Redistribution in an Urban Economy when Households Differ in both Preferences and Incomes," Journal of Urban Economics, Elsevier, vol. 43(1), pages 23-51, January.
    4. Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64, pages 416-416.
    5. Kiel, K.A. & Zabel, J.E., 1998. "The Impact of Neighborhood Characteristics ou House Prices: What Geographic Area Constitutes a Neighborhodd?," Papers 98-04, Wellesley College - Department of Economics.
    6. Anna Hardman & Yannis Ioannides, 2004. "Income Mixing and Housing in U.S. Cities: Evidence from Neighborhood Clusters of the American Housing Survey," Discussion Papers Series, Department of Economics, Tufts University 0420, Department of Economics, Tufts University.
    7. Bourguignon, Francois, 1979. "Decomposable Income Inequality Measures," Econometrica, Econometric Society, vol. 47(4), pages 901-920, July.
    8. Schelling, Thomas C, 1969. "Models of Segregation," American Economic Review, American Economic Association, vol. 59(2), pages 488-493, May.
    9. Ioannides, Yannis M., 2004. "Neighborhood income distributions," Journal of Urban Economics, Elsevier, vol. 56(3), pages 435-457, November.
    10. James E. Foster & Artyom A. Shneyerov, 1999. "A general class of additively decomposable inequality measures," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(1), pages 89-111.
    11. Dennis Epple & Thomas Romer & Holger Sieg, 2001. "Interjurisdictional Sorting and Majority Rule: An Empirical Analysis," Econometrica, Econometric Society, vol. 69(6), pages 1437-1465, November.
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    Citations

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    Cited by:

    1. Haavio, Markus & Kauppi, Heikki, 2009. "House price fluctuations and residential sorting," Research Discussion Papers 14/2009, Bank of Finland.
    2. Rady, Sven & Ortalo-Magné, François, 2002. "Homeownership," Discussion Papers in Economics 28, University of Munich, Department of Economics.
    3. François Ortalo-Magné & Sven Rady, "undated". "Homeownership: Volatile Housing Prices, Low Labor Mobility and High Income Dispersion," Wisconsin-Madison CULER working papers 02-04, University of Wisconsin Center for Urban Land Economic Research.
    4. repec:eee:phsmap:v:487:y:2017:i:c:p:125-142 is not listed on IDEAS
    5. Ioannides, Yannis M., 2004. "Neighborhood income distributions," Journal of Urban Economics, Elsevier, vol. 56(3), pages 435-457, November.
    6. Pascaline Vincent & Frédéric Chantreuil & Benoït Tarroux, 2012. "Appraising the breakdown of unequal individuals in large French cities," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 201220, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
    7. Christopher H. Wheeler & Elizabeth A. La Jeunesse, 2007. "Neighborhood income inequality," Working Papers 2006-039, Federal Reserve Bank of St. Louis.
    8. Daniel Richards, 2004. "Price Discrimination and the Long Boom," Discussion Papers Series, Department of Economics, Tufts University 0419, Department of Economics, Tufts University.
    9. Pancs, Romans & Vriend, Nicolaas J., 2007. "Schelling's spatial proximity model of segregation revisited," Journal of Public Economics, Elsevier, vol. 91(1-2), pages 1-24, February.
    10. Markus Haavio & Heikki Kauppi, 2006. "House price fluctuations and residential sorting," 2006 Meeting Papers 774, Society for Economic Dynamics.
    11. Sven Rady, 2002. "Homeownership: Low household mobility, volatile housing prices, high income dispersion," FMG Discussion Papers dp432, Financial Markets Group.
    12. Sergio J. Rey & Mark V. Janikas, 2005. "Regional convergence, inequality, and space," Journal of Economic Geography, Oxford University Press, vol. 5(2), pages 155-176, April.
    13. Sergio J. Rey & Mark V. Janikas, 2003. "Convergence and space," Urban/Regional 0311002, University Library of Munich, Germany, revised 16 Nov 2003.

    More about this item

    Keywords

    income distribution; wealth distribution; decomposable inequality measures;

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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