Data and Code for: Wealth Stratification and Portfolio Choice

Principal Investigator(s): View help for Principal Investigator(s) Karl Boulware, Wesleyan University; Kenneth Kuttner, Wiliams College

Version: View help for Version V1

Name	File Type	Size	Last Modified
BK-wealthstrat-readme.pdf	application/pdf	27.1 KB	08/27/2020 07:31:AM
BK-wealthstrat-replication.do	text/x-stata-syntax	9.8 KB	08/27/2020 07:31:AM
SCF2007extract.dta	application/x-stata	2.8 MB	01/10/2020 04:02:PM
SCF2016extract.dta	application/x-stata	3.4 MB	08/27/2020 07:32:AM

Project Citation:

Boulware, Karl, and Kuttner, Kenneth. Data and Code for: Wealth Stratification and Portfolio Choice. Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-09-10. https://doi.org/10.3886/E120793V1

Project Description

Summary: This paper investigates the past decade’s increase in wealth inequality along racial and ethnic lines. Using a new measure of wealth stratification based on data from the Survey of Consumer Finances, we find that stratification increased significantly for Blacks from 2007 to 2016; Hispanics exhibited a similar but less pronounced trend. Our regression analysis shows that relative to Whites, Blacks and Hispanics tend to invest more in houses and less in stocks, controlling for observable demographic factors. Consequently, these groups did not benefit as much as Whites from the decade’s spectacular increase in stock prices.

Scope of Project

Subject Terms: Wealth inequality; Portfolio choice; Stratification measurement

JEL Classification:
      D13 Household Production and Intrahousehold Allocation
      D63 Equity, Justice, Inequality, and Other Normative Criteria and Measurement
      G11 Portfolio Choice; Investment Decisions

Geographic Coverage: United States

Time Period(s): 1/1/2007 – 1/1/2016 (2007 and 2016)

Data Type(s): survey data

Methodology

Unit(s) of Observation: Household

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Published Versions

V1 [2020-09-10]

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