The Asset Portfolios of Native-Born and Foreign-Born Australian Households

14 Pages Posted: 27 Apr 2009

See all articles by Deborah A. Cobb-Clark

Deborah A. Cobb-Clark

School of Economics, University of Sydney; IZA Institute of Labor Economics

Vincent A. Hildebrand

York University - Department of Economics; CEPS/INSTEAD

Abstract

This paper analyses the net worth and asset portfolios of native- and foreign-born Australian families. Specifically, we estimate a system of asset equations with an adding-up constraint imposed to control for diversity in household wealth. We find that the wealth of mixed and native-born couples is not significantly different; however, immigrant-only couples have approximately $162,000 less wealth than native-born couples. Relative to equally wealthy native-born couples, immigrant-only couples hold substantially more wealth in their homes and less in the form of vehicles. Mixed couples and single individuals allocate their wealth across assets in the same way their native-born counterparts.

Suggested Citation

Cobb-Clark, Deborah A. and Hildebrand, Vincent Alexandre, The Asset Portfolios of Native-Born and Foreign-Born Australian Households. Economic Record, Vol. 85, Issue 268, pp. 46-59, March 2009. Available at SSRN: https://ssrn.com/abstract=1376030 or http://dx.doi.org/10.1111/j.1475-4932.2008.00528.x

Deborah A. Cobb-Clark (Contact Author)

School of Economics, University of Sydney ( email )

606 Social Sciences Bldg. (A02)
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IZA Institute of Labor Economics

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Germany

Vincent Alexandre Hildebrand

York University - Department of Economics ( email )

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Canada
416-736-2100 x 88591 (Phone)
416-487-6852 (Fax)

CEPS/INSTEAD ( email )

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Luxembourg

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