Gittleman, Maury; Wolff, Edward N. - In: Journal of Human Resources 39 (2004) 1
Making use of PSID data for 1984, 1989, and 1994, we examine race differences in patterns of asset accumulation. Our results indicate, as expected, that inheritances raise the rate of wealth accumulation of whites relative to that of African Americans. But, while whites devote a greater share of...