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Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances

Bhutta, Neil, Chang, Andrew C., Dettling, Lisa J., Hsu, Joanne W.·2020·FEDS Notes

Abstract

New data from the 2019 Survey of Consumer Finances (SCF) show that long-standing and substantial wealth disparities between families in different racial and ethnic groups were little changed since the last survey in 2016; the typical White family has eight times the wealth of the typical Black family and five times the wealth of the typical Hispanic family.

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Research works printed but not linked: 14

  1. Goodman, L. S., & Mayer, C. (2018). Homeownership and the American Dream. Journal of Economic Perspectives, 32(1), 31-58. · DOI
  2. Charles, K. K., & Hurst, E. (2002). The Transition to Home Ownership and the Black-White Wealth Gap. Review of Economics and Statistics, 84(2), 281-297. · DOI · Paper page
  3. Bricker, J., Goodman, S., Moore, K. B., & Volz, A. H. (2020). Wealth and Income Concentration in the SCF: 1989-2019. FEDS Notes. Washington: Board of Governors of the Federal Reserve System. · DOI
  4. Bhutta, Neil, Jesse Bricker, Andrew C. Chang, Lisa J. Dettling, Sarena Goodman, Joanne W. Hsu, Kevin B. Moore, Sarah Reber, Alice Henriques Volz, and Richard A. Windle. 2020. "Changes in U.S. Family Finances from 2016 to 2019: Evidence from the Survey of Consumer Finances," Federal Reserve Bulletin 106(5). · DOI · Paper page
  5. Dettling, Lisa J., Joanne W. Hsu, Lindsay Jacobs, Kevin B. Moore, and Jeffrey P. Thompson. 2017. "Recent Trends in Wealth-Holding by Race and Ethnicity: Evidence from the Survey of Consumer Finances," FEDS Notes. Washington: Board of Governors of the Federal Reserve System, September 27, 2017. · DOI
  6. Gale, William and John Karl Scholz. 1994. "Intergenerational Transfers and the Accumulation of Wealth." Journal of Economic Perspectives, 8(4): 145-160. · DOI · Paper page
  7. Feiveson, Laura and John Sabelhaus. 2018. "How Does Intergenerational Wealth Transmission Affect Wealth Concentration?" FEDS Notes. Washington: Board of Governors of the Federal Reserve System, June 1, 2018. · DOI
  8. Hamilton, Darrick and William Darity. 2010. "Can 'Baby Bonds' Eliminate the Racial Wealth Gap in Putative Post-Racial America?" The Review of Black Political Economy 37(3–4): 207–16. · DOI
  9. Pager, Devah. 2007. "The Use of Field Experiments for Studies of Employment Discrimination: Contributions, Critiques, and Directions for the Future" Annals of the American Academy of Political and Social Sciences 609 (January): 104-133. · DOI
  10. Goodman, Laurie S. and Christopher Mayer. 2018. "Homeownership and the American Dream." Journal of Economic Perspectives 32(1): 31-58. · DOI
  11. Charles, Kerwin Kofi and Erik Hurst. 2002. "The Transition to Home Ownership and the Black-White Wealth Gap." The Review of Economics and Statistics 84(2): 281–297. · DOI · Paper page
  12. Bricker, Jesse, Sarena Goodman, Kevin Moore, and Alice Henriques Volz. 2020. "Wealth and Income Concentration in the SCF: 1989-2019," FEDS Notes. · DOI
  13. Sabelhaus, John and Alice Henriques Volz (forthcoming). "Social Security Wealth, Inequality, and Lifecycle Saving," in Measuring and Understanding the Distribution and Intra/Inter-Generational Mobility of Income and Wealth. NBER Book Series Studies in Income and Wealth. The University of Chicago Press.
  14. COVID-19, the CARES Act, and Families' Financial Security, National Tax Journal 73(3): 645-672. · DOI

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Metadata

Authors
Bhutta, N., Chang, A. C., Dettling, L. J., & Hsu, J. W.
Affiliations
Board of Governors of the Federal Reserve System (U.S.)
Venue
FEDS Notes
Published
2020-09
Volume
2020.0
Issue
2797
ISSN
2380-7172
Cited by
226
References
1

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CoChat. (2026). Citation check: Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances. https://app.cochat.ai/papers/10.17016/2380-7172.2797
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Bhutta, N., Chang, A. C., Dettling, L. J., & Hsu, J. W. (2020). Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances. FEDS Notes. https://doi.org/10.17016/2380-7172.2797