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Table 5 Fixed-effects estimates of the ownership likelihood of various components of financial wealth

From: The impact of the recession on the wealth of older immigrant and native households in the United States

Panel A – Dependent variable: likelihood of owning various components of financial wealth
  Financial wealth in:
Key regressors Financial wealth Stocks, mutual funds, investment trusts Checking, savings, money market CDs, saving bonds, T-bills Bonds, bond funds, other savings Non-housing financial debt
Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat
Post-Recession −0.019   −0.046***   −0.029**   −0.067***   −0.007   0.016  
  (0.015)   (0.016)   (0.013)   (0.017)   (0.017)   (0.017)  
Post*Migrant HH −0.049 1.78 0.014 4.13** −0.069** 5.53*** 0.006 7.77*** −0.004 0.10 −0.038 0.93
  (0.036) (0.028) (0.030) (0.027) (0.031) (0.036)
Post*Mixed HH −0.038 1.80 0.019 4.20** −0.046** 4.54*** −0.013 8.14*** 0.006 0.11 −0.033 0.99
  (0.027) (0.027) (0.024) (0.026) (0.027) (0.031)
N 9,933   9,933   9,933   9,933   9,933   9,933  
Dep. Var. Mean 0.777   0.314   0.873   0.254   0.241   0.321  
Panel B – Dependent variable: likelihood of owning various components of net total wealth
  Financial wealth in:
  Primary home Secondary home Other real estate Businesses Vehicles IRAs/Keogh plans
  Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat Coef. (S.E.) F-stat
Post-Recession −0.028***   −0.005   −0.028**   0.001   −0.031   −0.030**  
  (0.009)   (0.008)   (0.013)   (0.011)   (0.009)   (0.015)  
Post*Migrant HH −0.009 5.55*** −0.005 0.22 −0.018 2.75* −0.017 0.39 −0.045* 8.34*** 0.038 2.98**
  (0.021) (0.015) (0.024) (0.020) (0.023) (0.030)
Post*Mixed HH 0.004 5.53*** 0.012 0.44 0.022 2.82* 0.015 0.27 −0.001 6.16*** 0.035 2.91*
  (0.013) (0.016) (0.020) (0.020) (0.015) (0.026)
N 9,907 9,933 9,933 9,933 9,933 9,933
Dep. Var. Mean 0.896 0.058 0.175 0.142 0.942 0.479
  1. Notes: The regressions include a constant term as well as the same regressors included in Table 4. * indicates significance at the 10% level, ** indicates significance at the 5% level and *** indicates significance at the 1% level. Standard errors are robust.