College Is Not Enough: Higher Education Does Not Eliminate Racial and Ethnic Wealth Gaps

William Emmons and Lowell Ricketts

Review, 2017, vol. 99, issue 1

Abstract: Differences in college and post-graduate degree attainment alone explain less than half of Black-White and Hispanic-White wealth gaps in a standard wealth regression. Differences in family structure and measures of luck such as income windfalls and inheritances explain even less. Measures of financial decisionmaking, such as the share of housing in total assets and debt ratios, are much more important.

JEL-codes: D31 D63 I24 J15 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlrv:00069

DOI: 10.20955/r.2017.7-39

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