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How Big Is the Inheritance Gap Between Black and White Families?

Author

Listed:
  • John Bailey Jones
  • Urvi Neelakantan

Abstract

One of the most striking differences between Black and White households is a large disparity in wealth. A potential source of this gap is differences in transfers of wealth within families through bequests or gifts. In this article, we document who receives such transfers and the distribution of transfers among those who receive them. Black individuals are much less likely to receive any inheritances or gifts. Black recipients receive smaller amounts and have a much lower probability of extremely large transfers.

Suggested Citation

  • John Bailey Jones & Urvi Neelakantan, 2022. "How Big Is the Inheritance Gap Between Black and White Families?," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 22(49), December.
    • Handle: RePEc:fip:fedreb:95348
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    File URL: https://www.richmondfed.org/publications/research/economic_brief/2022/eb_22-49
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