Petach, Luke; Tavani, Daniele - 2020
Using data on household balance sheets from the Survey of Consumer Finances and data on macroeconomic rates of return … from Jordà et al. (2019) we construct two alternate series for household rates of return by race from 1989 to 2016. Our …-Blinder decompositions indicate that differential rates of return may explain up to 50% of the racial wealth gap. Finally, our data on …