Private Transfers, Race, and Wealth

The Urban Institute, Report 5, 2012

36 Pages Posted: 24 Jan 2013

See all articles by Signe-Mary McKernan

Signe-Mary McKernan

The Urban Institute - Center on Labor, Human Services and Population

Caroline E. Ratcliffe

The Urban Institute - Labor and Social Policy Center

Margaret Simms

The Urban Institute

Sisi Zhang

The Urban Institute

Date Written: August 8, 2012

Abstract

How do private transfers differ by race and ethnicity and do such differences explain the racial and ethnic disparity in wealth? Using the Panel Study of Income Dynamics, this study examines private transfers by race and ethnicity and explores a causal relationship between private transfers and wealth. We examine private transfers in the form of financial support received and given from extended families and friends, as well as large gifts and inheritances. Our findings highlight important differences in private transfers by race and ethnicity: African Americans and Hispanics (both immigrant and nonimmigrant) receive less in private transfers than non-Hispanic whites.

Keywords: Economy/Taxes, immigrants, Poverty and Safety Net

Suggested Citation

McKernan, Signe-Mary and Ratcliffe, Caroline E. and Simms, Margaret and Zhang, Sisi, Private Transfers, Race, and Wealth (August 8, 2012). The Urban Institute, Report 5, 2012. Available at SSRN: https://ssrn.com/abstract=2205735 or http://dx.doi.org/10.2139/ssrn.2205735

Signe-Mary McKernan (Contact Author)

The Urban Institute - Center on Labor, Human Services and Population ( email )

United States

Caroline E. Ratcliffe

The Urban Institute - Labor and Social Policy Center ( email )

2100 M Street, NW
Washington, DC 20037
United States
202-261-5548 (Phone)
202-463-8522 (Fax)

Margaret Simms

The Urban Institute ( email )

2100 M Street, NW
Washington, DC 20037
United States

Sisi Zhang

The Urban Institute ( email )

2100 M Street, NW
Washington, DC 20037
United States

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