Article(electronic)November 16, 2006

The Portfolio Choices of Hispanic Couples*

In: Social science quarterly, Volume 87, Issue 5, p. 1344-1363

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Abstract

Objectives. The objective of this article is to assess the overall wealth level and portfolio choices of Hispanic families.Methods. We use Survey of Income and Program Participation (SIPP) data to first estimate the determinants of net worth. Conditioning on overall wealth levels, we then estimate a model of asset portfolios.Results. Our results reveal that Hispanic couples as a group are less wealthy than otherwise similar white couples, although there is substantial variation across Hispanic‐origin groups. Accounting for these wealth disparities, Hispanic couples hold less financial wealth, but more real estate and business equity than do white couples.Conclusions. Much of the disparity in portfolio choices of Hispanics as a group relative to whites appears to stem from the fact that they are less wealthy. At the same time, it is important to separately analyze the wealth position of distinct Hispanic‐origin groups.

Languages

English

Publisher

Wiley

ISSN: 1540-6237

DOI

10.1111/j.1540-6237.2006.00431.x

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