Effects of Assets

This article examines the extent to which family wealth affects the Black – White test score gap for young children based on data from the Panel Study of Income Dynamics (aged 3 – 12). This study found little evidence that wealth mediated the Black – White test scores gaps, which were eliminated when child and family demographic covariates were held constant. However, family wealth had a stronger association with cognitive achievement of school-aged children than that of preschoolers and a stronger association with school-aged… more

Using data from the 4-year American Dream Demonstration, this study compared saving performance and program participation of banked participants (n = 1,538) with unbanked participants (n = 466) enrolled in 14 IDA programs across the United States. The study found that unbanked participants had $3.26 lower average monthly net deposit (p more

We investigate the relationship between parents’ economic resources and children’s educational attainment and test the liquidity constraint hypothesis, using data from the Panel Study of Income Dynamics. We pay special attention to parents’ assets and compare two cohorts. We find that parents’ net worth, liquid assets, and home ownership have significantly positive relationships with children’s high school graduation and college enrollment when controlling for family income, other household characteristics, and cognitive skill indicators, although asset effects are weaker for college… more

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This study examines the economic mobility of single mothers. It highlights the relationships between single mothers' financial assets and human capital development (educational advancement, job training, and work hours) with their economic mobility.

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