1. WEALTH ACCUMULATION OF BLACK AND WHITE FAMILIES: THE EMPIRICAL EVIDENCE.
- Author
-
TERRELL, HENRY S.
- Subjects
AFRICAN American families ,ECONOMIC status ,COMPARATIVE studies ,WEALTH & society ,WEALTH ,FAMILIES & economics - Abstract
This study will utilize the data in the 1967 SEO to present evidence on the size, composition, and concentration of net wealth accumulation among black families compared to white families. The final section presents and tests a simple econometric model of the estimated relationship between income and wealth for black and white families. In preparing this paper it is well understood that survey data are notoriously unreliable on assets and liabilities. Larger samples do not remove the errors if there is a tendency for a distinct subgroup to misreport its assets or liabilities. A rather extensive literature has evolved concerning the errors in survey data on assets and liabilities and is noted. At various stages of the analysis the findings from the SEO are compared to results from the comprehensive Survey of Financial Characteristics of Consumers. [ABSTRACT FROM AUTHOR]
- Published
- 1971
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