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Asset Poverty In The United States, 1984–99: Evidence From The Panel Study Of Income Dynamics

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  • Asena Caner
  • Edward N. Wolff

Abstract

Using PSID data for the years 1984–99, we estimate the level and severity of asset poverty. We find that despite a sharp decline in the official poverty rate, the asset poverty rate barely budged over this period. Moreover, the severity of asset poverty increased during this period. The likelihood of being asset‐poor decreased for those who are college graduates or married with children, whereas it increased for those who are white, for the unmarried elderly, and for those without a college degree. Lifetime events such as changes in job market, marital and homeownership status are correlated with transitions into and out of asset poverty.

Suggested Citation

  • Asena Caner & Edward N. Wolff, 2004. "Asset Poverty In The United States, 1984–99: Evidence From The Panel Study Of Income Dynamics," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 50(4), pages 493-518, December.
    • Handle: RePEc:bla:revinw:v:50:y:2004:i:4:p:493-518
    DOI: 10.1111/j.0034-6586.2004.00137.x
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