A Portfolio Analysis of Poor Rural Wage-Working Families' Assets and Debts

Keith W. Bryant

American Journal of Agricultural Economics, 1986, vol. 68, issue 2, 237-245

Abstract: Data from the 1970–73 rural income maintenance experiment were employed to estimate a stock adjustment model for poor rural wage-working families' assets and debts. The assets were owned housing, cars, consumer durables, and liquid assets. The debts were home mortgages, non-real estate debts to financial institutions, and non-real estate debts to nonfinancial institutions. Poor whites increase assets by $.12 and debts by $.06 given a $1.00 increase in nonwelfare income; poor blacks react hardly at all. Both own- and cross-partial stock adjustment coefficients were estimated. Stock adjustments are more complex in the white than the black portfolios.

Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:68:y:1986:i:2:p:237-245.

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