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|Title:||The Wealth and Asset Holdings of U.S.- Born and Foreign-Born Households: Evidence from SIPP Data |
|Authors:||Cobb-Clark, Deborah A.|
Hildebrand, Vincent A.
|Issue Date:||2003 |
|Series/Report no.:||IZA Discussion paper series 674|
|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.|
|Document Type:||Working Paper|
|Appears in Collections:||IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)|
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