Falling Behind: The Role of Inter- and Intragenerational Processes in Widening Racial and Ethnic Wealth Gaps through Early and Middle Adulthood.
Whites' wealth advantage compared to blacks and Hispanics is vast and increases with age. While prior research on wealth gaps focuses primarily on wealth levels, we adopt a life-course perspective that treats wealth as a cumulative outcome and examine wealth accumulation across individuals' lives. W...
| Publicado en: | Social Forces Vol. 97; no. 2; pp. 705 - 741 |
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| Autores principales: | , |
| Formato: | Artículo |
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Oxford University Press / USA
Dec2018
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=133281942&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 133281942 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00377732 SFR jtl: Social Forces issn: 00377732 maglogo: N pubinfo: dt: Dec2018 vid: 97 iid: 2 pid: 622 pub: Oxford University Press / USA artinfo: ui: 133281942 10.1093/sf/soy060 ppf: 705 ppct: 36 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.1MB tig: atl: Falling Behind: The Role of Inter- and Intragenerational Processes in Widening Racial and Ethnic Wealth Gaps through Early and Middle Adulthood. aug: au: Killewald, Alexandra Bryan, Brielle affil: Harvard University Rice University su: Income inequality Wage differentials Intergenerational relations Ethnicity Economic conditions of minorities Economic status Poor people sug: subj: Income inequality Wage differentials Intergenerational relations Ethnicity Economic conditions of minorities Economic status Poor people ab: Whites' wealth advantage compared to blacks and Hispanics is vast and increases with age. While prior research on wealth gaps focuses primarily on wealth levels, we adopt a life-course perspective that treats wealth as a cumulative outcome and examine wealth accumulation across individuals' lives. We test to what extent intergenerational disadvantage and disparities in achieved characteristics explain accumulation disparities. We hypothesize that disparities in wealth determinants, like income and education, family and household characteristics, and homeownership and local context, increase through early and middle adulthood, widening wealth accumulation gaps. Using the National Longitudinal Survey of Youth 1979, we show that whites accumulate wealth more rapidly than blacks and Hispanics throughout early and middle adulthood, with the result that both groups fall further behind whites in amassed wealth with each passing year. Furthermore, the accumulation gap grows substantially in the 30s, so that blacks and Hispanics in this age range lose ground at an increasing annual rate. We find that adjusting for intergenerational disadvantage reduces the Hispanic-white and black-white gaps in wealth accumulated between ages 20 and 50 by over 40 percent and 50 percent, respectively, and even more in young adulthood. Yet, disparities in outcomes like income, marriage, and homeownership rise with age; together, these intragenerational processes explain a greater share of accumulation gaps in middle adulthood than at younger ages. These findings highlight that wealth gaps in the United States are both shaped by intergenerational legacies of disadvantage and created fresh in each generation through unequal distribution of achieved wealth-enhancing traits. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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