The Wealth and Asset Holdings of U.S.-Born and Foreign-Born Households: Evidence from Sipp Data

44 Pages Posted: 10 Feb 2003

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

Multiple version iconThere are 2 versions of this paper

Date Written: December 2002

Abstract

SIPP data are used to analyze the wealth of the U.S. foreign-born population. We find that the median wealth level of U.S.-born couples is 2.3 times the median of foreign-born couples, while the median wealth level of U.S.-born singles is three times that of foreign-born singles. Further, there is a great deal of diversity in wealth within the immigrant population. Diversity in net worth manifests itself primarily in source-region differences, while entry-cohort is more closely related to portfolio choices. Established immigrants hold less and recent immigrants hold more financial wealth. An opposite pattern emerges with respect to real estate equity.

Keywords: Immigrants, Wealth, Asset Portfolios

JEL Classification: J61, G11, J10

Suggested Citation

Cobb-Clark, Deborah A. and Hildebrand, Vincent Alexandre, The Wealth and Asset Holdings of U.S.-Born and Foreign-Born Households: Evidence from Sipp Data (December 2002). IZA Discussion Paper No. 674. Available at SSRN: https://ssrn.com/abstract=360661

Deborah A. Cobb-Clark (Contact Author)

School of Economics, University of Sydney ( email )

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IZA Institute of Labor Economics

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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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