Race and wealth inequality: The impact of racial differences in asset ownership on the distribution of household wealth

被引:78
作者
Keister, LA [1 ]
机构
[1] Ohio State Univ, Dept Sociol, Columbus, OH 43210 USA
关键词
D O I
10.1006/ssre.2000.0677
中图分类号
C91 [社会学];
学科分类号
030301 ; 1204 ;
摘要
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. (C) 2000 Academic Press.
引用
收藏
页码:477 / 502
页数:26
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