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 6 Fixed-effects estimates of the log net value of various components of total net wealth

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

Panel A – Dependent variable: log net value of 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	−0.192**		−0.221		−0.039		−0.101		−0.346*		0.093
	(0.077)		(0.141)		(0.070)		(0.146)		(0.201)		(0.127)
Post*Migrant HH	0.078	3.19**	−0.361	1.83	−0.128	0.54	0.089	0.28	−0.063	1.51	−0.021	0.27
	(0.170)		(0.325)		(0.147)		(0.199)		(0.407)		(0.315)
Post*Mixed HH	−0.031	3.19**	0.027	1.23	−0.216*	1.92	0.110	0.29	0.300	1.87	−0.224	0.71
	(0.137)		(0.199)		(0.118)		(0.286)		(0.286)		(0.230)
N	7,711		3,120		8,663		2,524		2396		3,193
Dep. Var. Mean	$37,987		$59,516		$15,230		$23,861		$32761		$5,271
Panel B – Dependent variable: log net value of various components of net total wealth
	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	−0.141***		−0.51***		−0.154		−0.380**		−0.208***		−0.250***
	(0.031)		(0.119)		(0.156)		(0.181)		(0.043)		(0.072)
Post*Mirant HH	−0.054	10.71***	0.232	9.80***	−0.706	2.33*	0.025	2.21	0.016	11.5***	0.425**	8.2***
	(0.069)		(0.194)		(0.361)		(0.264)		(0.093)		(0.211)
Post*Mixed HH	−0.049	11.25***	−0.253	10.6***	−0.197	0.91	−0.792**	5.18**	0.115*	12.5***	0.147	6.7***
	(0.049)		(0.234)		(0.209)		(0.332)		(0.069)		(0.131)
N	8,579		1,805		1,745		1,179		9,205		4,759
Dep. Var. Mean	$136,626		$62,131		$101,926		$164,555		$12.836		$75,358

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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