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Differences in wealth, evidence from structural regression decomposition, 1850-1870

Journal of Economic and Social Thought

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Title Differences in wealth, evidence from structural regression decomposition, 1850-1870
 
Creator CURTIS Jr., James E.
 
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 Economic and Social Thought
Journal of Economic and Social Thought
 
Contributor —
 
Date 2018-03-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEST/article/view/1567
10.1453/jest.v5i1.1567
 
Source Journal of Economic and Social Thought; Vol 5, No 1 (2018): March; 42-55
Journal of Economic and Social Thought; Vol 5, No 1 (2018): March; 42-55
2149-0422
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEST/article/view/1567/1579
 
Rights Copyright (c) 2018 Journal of Economic and Social Thought
http://creativecommons.org/licenses/by-nc/4.0