€Œfamily Achievements?€�: How a College Degree Accumulates Wealth for Whites and Not for Blacks
€Œfamily Achievements?€�: How a College Degree Accumulates Wealth for Whites and Not for Blacks
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“家庭成就？”：大学学位如何为白人而不是黑人积累财富
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发表时间：
2017
期刊：
影响因子：
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通讯作者：
T. Shapiro
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文献类型：
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作者：
Tatjana Meschede;Joanna Taylor;Alexis Mann;T. Shapiro
大学教育与更高的终身收入和更好的经济成就有关，因此人们期望它也与每个人更高的净财富有关。然而，最近的分析挑战了这一假设，并发现这种期望适用于白色受过大学教育的家庭，但不适用于黑人受过大学教育的家庭。为了进一步检验这一发现并研究家庭财务转移在家庭净财富中的作用，作者使用1989-2013年24年期间收入动态面板研究的数据以及资产和社会政策研究所勒韦林流动性研究的定性数据进行了混合方法研究。他们的研究结果证实，受过大学教育的白色家庭积累了财富，而黑人家庭的财富则在下降。作者还估计了遗产或巨额经济捐赠的影响，发现它们将现有的种族财富差距缩小了近4万美元，即20%。进一步的分析表明，白色大学毕业生更有可能提供和接受教育和/或购房的财政支持，而黑人大学毕业生更有可能在经济上支持他们的父母。多变量回归分析确定收到的财政支持教育和购房作为一个积极的贡献者净财富和财政帮助父母作为一个消极的贡献者净财富，歧视黑人受过大学教育的家庭，谁是不太可能接受，更有可能给予财政支持。资产和社会政策研究所的“利用流动性”研究收集的纵向访谈数据说明了家庭资金转移的机制及其与财富积累的关系，对比了白色和黑人家庭的经历。讨论强调了在研究财富结果时更好地理解代际财富和家庭内部财富共享的必要性，并强调了家庭金融财富转移在为那些受益最多的人创造机会方面的作用-大多数是白色受过大学教育的家庭。
A college education has been linked to higher life-time earnings and better economic achievements, so the expectation would be that it is also linked to higher net wealth for everybody. However, recent analyses challenge this hypothesis and find that the expectation holds true for White college-educated households but not for Black college-educated households. To examine this finding further and investigate the role of family financial transfers in household net wealth, the authors perform a mixed-method study using data from the Panel Study of Income Dynamics for a 24-year period, 1989-2013, and qualitative data from the Institute on Assets and Social Policy Levering Mobility study. Their results confirm that White college-educated households amass wealth, whereas the wealth of their Black counterparts declines. The authors also estimate the impact of just inheritance or large financial gifts and find that they decrease the existing racial wealth gap by nearly $40,000, or 20 percent. Further analyses demonstrate that White college graduates are significantly and substantially more likely to provide and receive financial support for education and/or a home purchase, while Black college graduates are significantly more likely to financially support their parents. Multivariate regression analysis identifies receipt of financial support for education and a home purchase as a positive contributor to net wealth and financial help for parents as a negative contributor to net wealth, disadvantaging Black college-educated households, who are less likely to receive and more likely to give financial support. Longitudinal interview data collected in the Institute on Assets and Social Policy Leveraging Mobility study illustrate the mechanisms of family financial transfers and their relationship to wealth accumulation, contrasting the White and Black households’ experiences. The discussion underscores the need to better understand intergenerational wealth and wealth sharing within families when studying wealth outcomes and highlights the role of family financial wealth transfers in creating opportunities for those who benefit the most—mostly White college-educated households.