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Racial and Ethnic Differences in Wealth in the Health and Retirement Study

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  • James P. Smith

    (RAND Corporation)

Abstract
This paper examines wealth data in the Health and Retirement Study (HRS). In comparison with asset data in other major surveys, the quality of HRS asset data is high. Missing asset data does remain a problem, however, to which future HRS analysts must remain sensitive. Evidence is presented showing that it is no accident that asset data are missing, and solutions for imputing missing data are developed. Finally, racial and ethnic wealth disparities are large. These minority wealth disparities are due in part to differential inheritances and desired bequests as inequities perpetuate themselves across generations: the disparities are also due to lower minority incomes, poorer health, and an excessively narrow definition of wealth that excludes Social Security and employer pensions.

Suggested Citation

  • James P. Smith, 2004. "Racial and Ethnic Differences in Wealth in the Health and Retirement Study," Labor and Demography 0408011, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpla:0408011
    Note: Type of Document - pdf; pages: 26. The Journal of Human Resources, Vol. 30, Supplement, pp. S158-S183, 1995
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/lab/papers/0408/0408011.pdf
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    References listed on IDEAS

    as
    1. Richard T. Curtin & Thomas Juster & James N. Morgan, 1989. "Survey Estimates of Wealth: An Assessment of Quality," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 473-552, National Bureau of Economic Research, Inc.
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    6. Wolff, Edward N, 1992. "Changing Inequality of Wealth," American Economic Review, American Economic Association, vol. 82(2), pages 552-558, May.
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    Full references (including those not matched with items on IDEAS)

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