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    Wealth as Security: Growth Curve Analyses of Household Income and Net Worth During a Recession

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    Rauscher_2015_FamEconIssues.pdf (231.6Kb)
    Issue Date
    2016-03
    Author
    Rauscher, Emily
    Elliott, William
    Publisher
    Springer Verlag
    Type
    Article
    Article Version
    Scholarly/refereed, author accepted manuscript
    Rights
    © Springer Science + Business Media New York 2015
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    Abstract
    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.
    URI
    http://hdl.handle.net/1808/24765
    DOI
    https://doi.org/10.1007/s10834-015-9442-7
    Collections
    • Sociology Scholarly Works [78]
    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.

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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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