Life-cycle inequality: The black and white differential

With 20 years of PSID data, we document persistent racial differentials in life-cycle consumption dynamics. Starting from similar positions in the consumption distribution Blacks end up in lower percentiles than Whites. Education, income, and wealth are three key drivers of these different dynamics. Blacks tend to save less, and hence have less buffer than the Whites to prevent them from falling in the lower part of the consumption distribution.

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Year of publication:	2023
Authors:	De Giorgi, Giacomo ; Gambetti, Luca ; Naguib, Costanza
Publisher:	Bern : University of Bern, Department of Economics
Subject:	Consumption \| Income \| Savings \| Inequality \| Persistence \| Life-Cycle

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Series:	Discussion Papers ; 23-01
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1831880563 [GVK] hdl:10419/278293 [Handle]
Classification:	E21 - Consumption; Saving ; D12 - Consumer Economics: Empirical Analysis ; C3 - Econometric Methods: Multiple/Simultaneous Equation Models
Source:	EconStor

Persistent link: https://www.econbiz.de/10014374405