Racial and Ethnic Differences in Wealth in the Health and Retirement Study

TitleRacial and Ethnic Differences in Wealth in the Health and Retirement Study
Publication TypeJournal Article
Year of Publication1995
AuthorsJames P. Smith
JournalJournal of Human Resources
Volume30
Issue0, Suppl.
PaginationS158-83
Call Numberpubs_1995_Smith_JJHR.pdf
KeywordsDemographics, Income, Methodology, Net Worth and Assets, Women and Minorities
Abstract

This paper examines wealth data in the Health and Retirement Study (HRS). In comparison with asset data in other major surveys, the quality of HRS asset data is high. Missing asset data does remain a problem, however, to which future HRS analysts must remain sensitive. Evidence is presented showing that it is no accident that asset data are missing, and solutions for imputing missing data are developed. Finally, racial and ethnic wealth disparities are large. These minority wealth disparities are due in part to differential inheritances and desired bequests as inequities perpetuate themselves across generations; the disparities are also due to lower minority incomes, poorer health, and an excessively narrow definition of wealth that excludes Social Security and employer pensions.

Notes

ProCite field 3 : RAND Corp

Endnote Keywords

Economics of Minorities/Personal Income and Wealth Distribution/Wealth/Ethnicity/Data Collection and Data Estimation Methodology

Endnote ID

1106

Citation Key6531