Race and Wealth Inequality: The Impact of Racial Differences in Asset Ownership on the Distribution of Household Wealth. Keister, L. A. Social Science Research, 29(4):477–502, 2000. ![Race and Wealth Inequality: The Impact of Racial Differences in Asset Ownership on the Distribution of Household Wealth [link]](https://bibbase.org/img/filetypes/link.svg "link")
Link doi abstract bibtex 2 downloads What accounts for persistent racial differences in wealth ownership? Previous research has debated the role that differences in asset ownership play in creating and maintaining wealth inequality. I use survey data to model the ownership of seven assets and find that whites are indeed more likely than blacks to buy high-risk, high-return assets. I then use a simulation model to explore the effect that these differences have on the distribution of wealth. I separate the effects of asset ownership from the effects of racial differences in family wealth history, earnings, education, marital behavior, fertility, and other influences on wealth inequality. I find that removing racial differences in asset ownership reduced wealth inequality drastically, but not completely, and that racial differences in educational attainment account for much of the remaining difference. I estimate how changes in historical patterns of portfolio behavior and educational attainment would have reduced inequality, and I explore the implications of these findings for reducing wealth inequality in the future.
@article{Keister2000,
title = {Race and Wealth Inequality: The Impact of Racial Differences in Asset Ownership on the Distribution of Household Wealth},
author = {Keister, Lisa A.},
year = {2000},
journal = {Social Science Research},
volume = {29},
number = {4},
pages = {477--502},
doi = {10.1006/SSRE.2000.0677},
url = {https://doi.org/10.1006/ssre.2000.0677},
abstract = {What accounts for persistent racial differences in wealth ownership? Previous research has debated the role that differences in asset ownership play in creating and maintaining wealth inequality. I use survey data to model the ownership of seven assets and find that whites are indeed more likely than blacks to buy high-risk, high-return assets. I then use a simulation model to explore the effect that these differences have on the distribution of wealth. I separate the effects of asset ownership from the effects of racial differences in family wealth history, earnings, education, marital behavior, fertility, and other influences on wealth inequality. I find that removing racial differences in asset ownership reduced wealth inequality drastically, but not completely, and that racial differences in educational attainment account for much of the remaining difference. I estimate how changes in historical patterns of portfolio behavior and educational attainment would have reduced inequality, and I explore the implications of these findings for reducing wealth inequality in the future.},
keywords = {Determinants of Wealth and Wealth Inequality,Impacts of Wealth Inequality,Methods of Estimation of Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality}
}
Downloads: 2
{"_id":"dmgDxQ4AjPPYJBkEv","bibbaseid":"keister-raceandwealthinequalitytheimpactofracialdifferencesinassetownershiponthedistributionofhouseholdwealth-2000","authorIDs":[],"author_short":["Keister, L. A."],"bibdata":{"bibtype":"article","type":"article","title":"Race and Wealth Inequality: The Impact of Racial Differences in Asset Ownership on the Distribution of Household Wealth","author":[{"propositions":[],"lastnames":["Keister"],"firstnames":["Lisa","A."],"suffixes":[]}],"year":"2000","journal":"Social Science Research","volume":"29","number":"4","pages":"477–502","doi":"10.1006/SSRE.2000.0677","url":"https://doi.org/10.1006/ssre.2000.0677","abstract":"What accounts for persistent racial differences in wealth ownership? Previous research has debated the role that differences in asset ownership play in creating and maintaining wealth inequality. I use survey data to model the ownership of seven assets and find that whites are indeed more likely than blacks to buy high-risk, high-return assets. I then use a simulation model to explore the effect that these differences have on the distribution of wealth. I separate the effects of asset ownership from the effects of racial differences in family wealth history, earnings, education, marital behavior, fertility, and other influences on wealth inequality. I find that removing racial differences in asset ownership reduced wealth inequality drastically, but not completely, and that racial differences in educational attainment account for much of the remaining difference. I estimate how changes in historical patterns of portfolio behavior and educational attainment would have reduced inequality, and I explore the implications of these findings for reducing wealth inequality in the future.","keywords":"Determinants of Wealth and Wealth Inequality,Impacts of Wealth Inequality,Methods of Estimation of Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality","bibtex":"@article{Keister2000,\n title = {Race and Wealth Inequality: The Impact of Racial Differences in Asset Ownership on the Distribution of Household Wealth},\n author = {Keister, Lisa A.},\n year = {2000},\n journal = {Social Science Research},\n volume = {29},\n number = {4},\n pages = {477--502},\n doi = {10.1006/SSRE.2000.0677},\n url = {https://doi.org/10.1006/ssre.2000.0677},\n abstract = {What accounts for persistent racial differences in wealth ownership? Previous research has debated the role that differences in asset ownership play in creating and maintaining wealth inequality. I use survey data to model the ownership of seven assets and find that whites are indeed more likely than blacks to buy high-risk, high-return assets. I then use a simulation model to explore the effect that these differences have on the distribution of wealth. I separate the effects of asset ownership from the effects of racial differences in family wealth history, earnings, education, marital behavior, fertility, and other influences on wealth inequality. I find that removing racial differences in asset ownership reduced wealth inequality drastically, but not completely, and that racial differences in educational attainment account for much of the remaining difference. I estimate how changes in historical patterns of portfolio behavior and educational attainment would have reduced inequality, and I explore the implications of these findings for reducing wealth inequality in the future.},\n keywords = {Determinants of Wealth and Wealth Inequality,Impacts of Wealth Inequality,Methods of Estimation of Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality}\n}\n\n","author_short":["Keister, L. A."],"key":"Keister2000","id":"Keister2000","bibbaseid":"keister-raceandwealthinequalitytheimpactofracialdifferencesinassetownershiponthedistributionofhouseholdwealth-2000","role":"author","urls":{"link":"https://doi.org/10.1006/ssre.2000.0677"},"keyword":["Determinants of Wealth and Wealth Inequality","Impacts of Wealth Inequality","Methods of Estimation of Wealth Inequality","Trends in Aggregate Wealth and Wealth Inequality"],"metadata":{"authorlinks":{}},"downloads":2},"bibtype":"article","creationDate":"2019-07-17T13:03:12.857Z","downloads":2,"keywords":["determinants of wealth and wealth inequality","impacts of wealth inequality","methods of estimation of wealth inequality","trends in aggregate wealth and wealth inequality"],"search_terms":["race","wealth","inequality","impact","racial","differences","asset","ownership","distribution","household","wealth","keister"],"title":"Race and Wealth Inequality: The Impact of Racial Differences in Asset Ownership on the Distribution of Household Wealth","year":2000,"biburl":"https://bibbase.org/f/nKAPSyp34A9azBzJd/GCWealthProject_WealthResearchLibrary.bib","dataSources":["QFH3S2ktnk2HEGP7y","ya2CyA73rpZseyrZ8","fBJx9xgrqvHd4JSiH","BLCNacxsmPCKKSNFN","zMnvgM8QBubpA78Tj","9uEoHFf8tixGaNsrJ","AGpZutMrvkWJwNxBH","Ehs2RwEzf4bZfKzK4","26owrmKAvXfuHsKRp","xHckFvXLsDnHhFkXn","cJJHdqh9t5tR5wpLH","F3pGsndC3BMm5kzaE","t77TCZsnrGgyo6dsY","BCPeddFnrLq82SA2k","2w2tCMfz9tagnuYcn","grHFPbjkekLtP8Rd5","reZhxJTZLXbC6Xb4R","CievPB5mG8TuzbbZ3","XqKxryftLF3GWq6cY","M7of5cge3GPiYqZve","PZFBspX8PwJz5LKpx","ve96mwrzCBBzfBff6","zu77p3c7mn9doiv7C","gktz2DotJNwWxzBjM","s55XALJsj7pSgkAJ5","6TRStm8krC6i2nGYe","p5wBFQ4FvQmLmu9Zc","yda7rYQnmKoN94xAr","hHZFQp7q53h3BYKe8"]}