TY - JOUR
T1 - Decomposing the black-white wealth gap
T2 - The role of parental resources, inheritance, and investment dynamics
AU - Conley, Dalton
N1 - Funding Information:
Las HBPM contienen cadenas cortas pentasacári-das que, fijándose sobre la antitrombina III, permiten una inactivación del factor X activado (acción anti-Xa) suficiente para impedir la formación de trombina (acción antitrombótica). Estas cadenas cortas no son, sin embargo, suficientes para inactivar la trombina por intermedio de la antitrombina III: no habrá, pues alargamiento del tiempo de cefalina activada (TCA), de donde se deduce un riesgo hemorrágico teórica-mente menor que con una heparina estándar y una disminución de la vigilancia biológica. Además, las HBPM tienen menor afinidad que la HNF por el cofactor II de la heparina, el factor plaquetario 4, el factor VIIIR y el endotelio vascular, hechos que se aso-cian con menos frecuencia con complicaciones hemorrágicas36,46,47.
PY - 2001
Y1 - 2001
N2 - Much research has shown that even after controlling for income, African Americans suffer from drastically lower net worths than their white counterparts; these differences in net worth have important implications for the overall well-being of blacks and whites. If not directly from labor market disadvantages - i.e., income differentials - then from what does this racial gap in wealth arise? The current study assesses two complementary accounts of this race difference in asset holdings. The first, the historical legacy thesis, suggests that net wealth differences in the current generation are largely a result of discrimination in past generations; that is, they can be traced to the "head start" that whites have enjoyed in accumulating assets and passing them on. The second theory, the contemporary dynamics thesis, holds that current dynamics of institutional racism in the housing and credit markets are more responsible for the gap. The current study tests the relative impact of multi-generational forces and contemporary property and credit dynamics by using two-generational data from the Panel Study of Income Dynamics. It finds that parental wealth and income levels and inheritance all have a significant impact on the wealth levels of the current generation net of respondent socioeconomic characteristics; however, parental wealth and inheritance fail to explain the black-white gap. Further, this study shows that even predicting net worth from that same family's net worth five years prior (also controlling for savings during the interim), there remains a significantly negative effect of African American race. However, breaking out initial net worth into asset types shows that it may be different investment types and returns that explain the difference in asset accumulation over a five-year period.
AB - Much research has shown that even after controlling for income, African Americans suffer from drastically lower net worths than their white counterparts; these differences in net worth have important implications for the overall well-being of blacks and whites. If not directly from labor market disadvantages - i.e., income differentials - then from what does this racial gap in wealth arise? The current study assesses two complementary accounts of this race difference in asset holdings. The first, the historical legacy thesis, suggests that net wealth differences in the current generation are largely a result of discrimination in past generations; that is, they can be traced to the "head start" that whites have enjoyed in accumulating assets and passing them on. The second theory, the contemporary dynamics thesis, holds that current dynamics of institutional racism in the housing and credit markets are more responsible for the gap. The current study tests the relative impact of multi-generational forces and contemporary property and credit dynamics by using two-generational data from the Panel Study of Income Dynamics. It finds that parental wealth and income levels and inheritance all have a significant impact on the wealth levels of the current generation net of respondent socioeconomic characteristics; however, parental wealth and inheritance fail to explain the black-white gap. Further, this study shows that even predicting net worth from that same family's net worth five years prior (also controlling for savings during the interim), there remains a significantly negative effect of African American race. However, breaking out initial net worth into asset types shows that it may be different investment types and returns that explain the difference in asset accumulation over a five-year period.
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U2 - 10.1111/j.1475-682X.2001.tb00927.x
DO - 10.1111/j.1475-682X.2001.tb00927.x
M3 - Article
AN - SCOPUS:0035531107
SN - 0038-0245
VL - 71
SP - 39
EP - 66
JO - Sociological Inquiry
JF - Sociological Inquiry
IS - 1
ER -