The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth Recent evidence indicates that inheritances and other intergenerational wealth transfers have only a limited effect on wealth inequality and the intergenerational transmission of financial well-being. In this study, we explore the role that human capital and family formation play in mediating the…
Race and Consumption: Black and White Disparities in Household Spending Abstract Differences in consumption patterns are usually treated as a matter of preferences. In this article, the authors examine consumption from a structural perspective and argue that black households face unique constraints restricting their ability to acquire important goods and services. Using data from the…
Overwork, Specialization, and Wealth Objective: This study examines how overwork and traditional household specialization— defined as households with one dedicated female homemaker and one dedicated male breadwinner—are associated with wealth across socioeconomic strata. Background: Although overwork and household specialization are clearly associated with income, less is known about how these behaviors affect household wealth. Household…
Women in the One Percent: Gender Dynamics in Top Income Positions Abstract A growing body of research documents the importance of studying households in the top one percent of U.S. income distribution because they control enormous resources. However, little is known about whose income—men’s or women’s—is primarily responsible for pushing households into the one percent…
Cohorts and wealth transfers: Generational changes in the receipt of inheritances, trusts, and inter vivos gifts in the United States The intergenerational transfer of assets helps create and maintain wealth inequality over time, and cohort differences in these wealth transfers provide unique insights into the changing mechanisms that lead to inequality. We examine cohort differences…