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

Author

Listed:
  • Cobb-Clark, Deborah A.

    (University of Sydney)

  • Hildebrand, Vincent A.

    (York University, Canada)

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.

Suggested Citation

  • Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2002. "The Wealth and Asset Holdings of U.S.- Born and Foreign-Born Households: Evidence from SIPP Data," IZA Discussion Papers 674, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp674
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    More about this item

    Keywords

    immigrants; wealth; asset portfolios;
    All these keywords.

    JEL classification:

    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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