EconStor >
Bard College, Annandale-on-Hudson (NY) >
Levy Economics Institute of Bard College >
Working Papers, Levy Economics Institute of Bard College >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/31586
  
Title:Asset poverty in the United States, 1984 - 1999: evidence from the panel study of income dynamics PDF Logo
Authors:Caner, Asena
Wolff, Edward N.
Issue Date:2002
Series/Report no.:Working papers // The Levy Economics Institute 356
Abstract:Using PSID data for the years 1984 to 1999, we estimate the level and severity of asset poverty. Our results indicate that the share of asset-poor households remained almost the same and the severity of poverty increased during this period, despite the growth in the economy and the financial markets. The race, age, education, and marital status of the household head, and homeownership, are important determinants of asset poverty. There seems to be a downward trend in the contribution to asset poverty of being a college graduate, a married elderly or a black head of household, a single mother, or a married person with children. The contributions of not having a college degree, being a 35 to 49 year-old household head, being a childless nonelderly couple, or being an unmarried elderly person seem to have increased. The contribution to net worth poverty of being a homeowner also went up. Descriptive statistics suggest that changes in the value of assets are more effective in transitions into and out of asset poverty than are changes in debt. Some lifetime events, such as changes in marital, homeownership, or business ownership status, are also correlated with the transitions.
Document Type:Working Paper
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

Files in This Item:
File Description SizeFormat
50392119X.pdf296.74 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/31586

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.