Federal Reserve Bank of Boston | bostonfed.org |
Bank Administration, 7 January 2020
Economy II: What Lies Beneath the Surface
The Racial Component
▶ Survey of Boston metro area
households
▶ Questions about debt, assets and
(implied) net worth
▶ All minorities hold small fractions of
white population net worth
▶ Differences across Black, Latino
sub-groups
▶ What are the sources of the gap?
▶ Institutional, generational
Median net worth as a percentage of white
households' median net worth, Boston
U.S. Black
≈0*
Caribbean black
4.8
Puerto Rican
1.2
Dominican
0.0
Other Hispanic
1.1
*Significantly different from white, not significantly different
from zero. Range of estimates from -$1500 to $1500.
Source: Muñoz, Kim, Chang, Jackson, Hamilton and Darity, "The Color of Wealth in Boston," Federal Reserve Bank of Boston, 2015.
https://www.bostonfed.org/publications/one-time-pubs/color-of-wealth.aspx
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