The Wealth and Asset Holdings of U.S.-Born and Foreign-Born Households: Evidence from Sipp Data
44 Pages Posted: 10 Feb 2003
Date Written: December 2002
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
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