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

26 Pages Posted: 8 May 2006

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

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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 2.5 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.

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. Review of Income and Wealth, Vol. 52, No. 1, pp. 17-42, March 2006. Available at SSRN: https://ssrn.com/abstract=886826 or http://dx.doi.org/10.1111/j.1475-4991.2006.00174.x

Deborah A. Cobb-Clark

School of Economics, University of Sydney ( email )

606 Social Sciences Bldg. (A02)
The University of Sydney
Sydney, NSW 2006
Australia
61435061387 (Phone)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Vincent Alexandre Hildebrand (Contact Author)

York University - Department of Economics ( email )

363 York Hall
Glendon College
Toronto, Ontario, M4N 3M6
Canada
416-736-2100 x 88591 (Phone)
416-487-6852 (Fax)

CEPS/INSTEAD ( email )

B.P.48
Differdange, L-4620
Luxembourg

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