Skip to main content

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
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
  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.