G2TT
来源类型Discussion paper
规范类型论文
来源IDDP17328
DP17328 Wealth of two nations: The U.S. racial wealth gap, 1860-2020
Ellora Derenoncourt; Chi Hyun Kim; Moritz Kuhn; Moritz Schularick
发表日期2022-05-27
出版年2022
语种英语
摘要The racial wealth gap is the largest of the economic disparities between Black and white Americans, with a white-to-Black per capita wealth ratio of 6 to 1. It is also among the most persistent. In this paper, we construct the first continuous series on white-to-Black per capita wealth ratios from 1860 to 2020, drawing on historical census data, early state tax records, and historical waves of the Survey of Consumer Finances, among other sources. Incorporating these data into a parsimonious model of wealth accumulation for each racial group, we document the role played by initial conditions, income growth, savings behavior, and capital returns in the evolution of the gap. Given vastly different starting conditions under slavery, racial wealth convergence would remain a distant scenario, even if wealth-accumulating conditions had been equal across the two groups since Emancipation. Relative to this equal-conditions benchmark, we find that observed convergence has followed an even slower path over the last 150 years, with convergence stalling after 1950. Since the 1980s, the wealth gap has widened again as capital gains have predominantly benefited white households, and income convergence has stopped.
主题Economic History ; International Macroeconomics and Finance ; Macroeconomics and Growth
URLhttps://cepr.org/publications/dp17328
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/546368
推荐引用方式
GB/T 7714
Ellora Derenoncourt,Chi Hyun Kim,Moritz Kuhn,et al. DP17328 Wealth of two nations: The U.S. racial wealth gap, 1860-2020. 2022.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Ellora Derenoncourt]的文章
[Chi Hyun Kim]的文章
[Moritz Kuhn]的文章
百度学术
百度学术中相似的文章
[Ellora Derenoncourt]的文章
[Chi Hyun Kim]的文章
[Moritz Kuhn]的文章
必应学术
必应学术中相似的文章
[Ellora Derenoncourt]的文章
[Chi Hyun Kim]的文章
[Moritz Kuhn]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。