Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession
Issue Date
2016-03Author
Rauscher, Emily
Elliott, William
Publisher
Springer Verlag
Type
Article
Article Version
Scholarly/refereed, author accepted manuscript
Rights
© Springer Science + Business Media New York 2015
Metadata
Show full item recordAbstract
Building on evidence of increasing inequality with the 2008-9 recession, we ask whether households experienced different financial trajectories through the recession depending on initial income and net worth. Using growth curve models of households headed by young adults in the Panel Study of Income Dynamics, we compare the relationship between initial income and net worth and the rate of change of income and net worth from 1989 to 2011 among households with income above and below $50,000. We find different patterns of income change and different relationships among income, net worth, and their rates of change between high- and low-income categories. Results suggest initial wealth helped to stabilize income and wealth changes among higher income households, reducing financial insecurity.
Description
The final publication is available at Springer via https://doi.org/10.1007/s10834-015-9442-7.
Collections
Citation
Rauscher
, Emily and William Elliott.
2016.
“Wealth as Security: Growth Curve Analyses of
Household Income and
Net Worth During a Recession.”
Journal of Family and
Economic Issues
37(1): 29
-
41.
Items in KU ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
We want to hear from you! Please share your stories about how Open Access to this item benefits YOU.