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A study of consumption decisions and wealth, individual data, political economy and theory

Journal of Economics Library

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Field Value
 
Title A study of consumption decisions and wealth, individual data, political economy and theory
 
Creator CURTIS Jr, James
 
Subject Theory of economic discrimination; Structural regression decomposition; Wealth inequality.
J70; D90; E20; C20; H50; N30.
 
Description Abstract. Recent studies have used regression decomposition to analyze recent data and found that over seventy percent of the black-white wealth differences remained unexplained (See, e.g., Gittleman & Wolff 2000; Altonji, Doraszelski & Segal 2000; and Blau & Graham 1990). Their results are limited to the variation in modern data. This study contributes improved methodology and historical empirical results to the literature on economic discrimination. In this paper, (i) presents structural regression decompositions, which are modifications to methods developed by Becker (1957) and Oaxaca (1973); (ii) presents a basic empirical test when analyzing structural regression decompositions; (iii) reports the estimated sources of black-white differences in wealth directly before and after emancipation; (iv) links these findings to recent studies. Empirical estimates confirm that the size and persistence of modern black-white wealth differences have historical roots. (v) presents decision-making considerations of “individuals” in an economy with grouped individuals, owners of firms, and social planner(s), conditional on wealth constraints with applied social economic considerations.Keywords. Theory of economic discrimination, Structural regression decomposition, Wealth inequality.JEL. J70, D90, E20, C20, H50, N30.
 
Publisher Journal of Economics Library
 
Contributor —
 
Date 2018-03-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEL/article/view/1579
10.1453/jel.v5i1.1579
 
Source Journal of Economics Library; Vol 5, No 1 (2018): March; 99-102
2149-2379
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEL/article/view/1579/1597
 
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http://creativecommons.org/licenses/by-nc/4.0