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

Amuedo-Dorantes, Catalina; Pozo, Susan

doi:10.1186/s40173-015-0033-x

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
Key regressors	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)	1.78	(0.028)	4.13**	(0.030)	5.53***	(0.027)	7.77***	(0.031)	0.10	(0.036)	0.93
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)	1.80	(0.027)	4.20**	(0.024)	4.54***	(0.026)	8.14***	(0.027)	0.11	(0.031)	0.99
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)	5.55***	(0.015)	0.22	(0.024)	2.75*	(0.020)	0.39	(0.023)	8.34***	(0.030)	2.98**
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)	5.53***	(0.016)	0.44	(0.020)	2.82*	(0.020)	0.27	(0.015)	6.16***	(0.026)	2.91*
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

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.

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