Household and family assets, debts and wealth
Key indicators
Selected geographical area: Canada
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$329,900
Results
All (4)
All (4) ((4 results))
- Articles and reports: 11F0019M2003197Geography: CanadaDescription:
The economic assimilation of immigrants is a key concern for economists and policy makers. The topic has been widely explored in terms of earnings assimilation of immigrants. Using the 1999 Survey of Financial Security, this study attempts to look at the issue from the wealth perspective.
Among married families, immigrants have higher wealth than their native-born counterparts from the 40th to 90th percentiles of the distribution, with the wealth gap ranging between $20,000 and $78,000. Among single families, immigrants have higher wealth from the 55th to 95th percentiles, with the wealth gap ranging between $14,000 and $145,000. At the bottom of the distribution, however, evidence suggests that immigrants have lower wealth, although the gap is generally below $10,000. Various decomposition results indicate that the age of the major income recipient (and of the spouse for married families) as well as factors affecting permanent income explain a significant portion of the wealth gap in cases where immigrant families have higher wealth than the native-born. At the bottom of the wealth distribution, however, the wealth gap cannot be explained by the age of the major income recipient, permanent income factors, or family size (or lone-parent status), suggesting that low-wealth immigrant families may behave differently than low-wealth Canadian-born families in their wealth accumulation process.
The wealth gap is also studied from a cohort perspective. Not surprisingly, recent immigrants have lower wealth than comparable Canadian-born families, and immigrants who arrived before 1976 have higher wealth. While immigrants who arrived in Canada between 1976 and 1985 are widely believed to initially have had more of an earnings disadvantage than their predecessors with respect to the Canadian-born, this study finds that, over the upper segment of the distribution, the wealth of this cohort is not significantly different from that of comparable Canadian-born families. But over the lower portion of the distribution, the cohort has lower wealth.
Release date: 2003-11-18 - 2. Are families getting richer? ArchivedArticles and reports: 11-008-X20020026348Geography: CanadaDescription:
This study examines whether the gap between high-wealth families and low-wealth families increased from 1984 to 1999, using data from the Assets and Debt Survey and the Survey of Financial Security.
Release date: 2002-09-17 - Articles and reports: 11F0019M2002187Geography: CanadaDescription:
Using data from the Assets and Debts Survey of 1984 and the Survey of Financial Security of 1999, we document the evolution of wealth inequality in Canada between 1984 and 1999. Our main findings are as follows: 1) wealth inequality has increased between 1984 and 1999, 2) the growth in wealth inequality has been associated with substantial declines in real average and median wealth for young couples with children and recent immigrants, 3) real median wealth and real average wealth rose much more among family units whose major income recipient is a university graduate than among other family units, 4) real median and average wealth fell among family units whose major income recipient is aged 25-34 and increased among those whose major income recipient is aged 55 and over, 5) the aging of the Canadian population over the 1984-1999 period has tended to reduce wealth inequality, 6) diverging changes in permanent income do not explain a substantial portion of the growing gap between low-wealth and high-wealth family units. Factors that may have contributed to rising wealth inequality - which cannot be quantified with existing data sets - include differences in the growth of inheritances, inter vivos transfers, rates of return on savings and number of years worked full-time. In particular, rates of return on savings may have increased more for wealthy family units than for their poorer counterparts as a result of the booming stock market during the 1990s.
Release date: 2002-02-22 - Notices and consultations: 13F0026M1999001Description:
The main objectives of a new Canadian survey measuring asset and debt holding of families and individuals will be to update wealth information that is over one decade old; to improve the reliability of the wealth estimates; and, to provide a primary tool for analysing many important policy issues related to the distribution of assets and debts, future consumption possibilities, and savings behaviour that is of interest to governments, business and communities.
This paper is the document that launched the development of the new asset and debt survey, subsequently renamed the Survey of Financial Security. It looks at the conceptual framework for the survey, including the appropriate unit of measurement (family, household or person) and discusses measurement issues such as establishing an accounting framework for assets and debts. The variables proposed for inclusion are also identified. The paper poses several questions to readers and asks for comments and feedback.
Release date: 1999-03-23
Data (0)
Data (0) (0 results)
No content available at this time.
Analysis (3)
Analysis (3) ((3 results))
- Articles and reports: 11F0019M2003197Geography: CanadaDescription:
The economic assimilation of immigrants is a key concern for economists and policy makers. The topic has been widely explored in terms of earnings assimilation of immigrants. Using the 1999 Survey of Financial Security, this study attempts to look at the issue from the wealth perspective.
Among married families, immigrants have higher wealth than their native-born counterparts from the 40th to 90th percentiles of the distribution, with the wealth gap ranging between $20,000 and $78,000. Among single families, immigrants have higher wealth from the 55th to 95th percentiles, with the wealth gap ranging between $14,000 and $145,000. At the bottom of the distribution, however, evidence suggests that immigrants have lower wealth, although the gap is generally below $10,000. Various decomposition results indicate that the age of the major income recipient (and of the spouse for married families) as well as factors affecting permanent income explain a significant portion of the wealth gap in cases where immigrant families have higher wealth than the native-born. At the bottom of the wealth distribution, however, the wealth gap cannot be explained by the age of the major income recipient, permanent income factors, or family size (or lone-parent status), suggesting that low-wealth immigrant families may behave differently than low-wealth Canadian-born families in their wealth accumulation process.
The wealth gap is also studied from a cohort perspective. Not surprisingly, recent immigrants have lower wealth than comparable Canadian-born families, and immigrants who arrived before 1976 have higher wealth. While immigrants who arrived in Canada between 1976 and 1985 are widely believed to initially have had more of an earnings disadvantage than their predecessors with respect to the Canadian-born, this study finds that, over the upper segment of the distribution, the wealth of this cohort is not significantly different from that of comparable Canadian-born families. But over the lower portion of the distribution, the cohort has lower wealth.
Release date: 2003-11-18 - 2. Are families getting richer? ArchivedArticles and reports: 11-008-X20020026348Geography: CanadaDescription:
This study examines whether the gap between high-wealth families and low-wealth families increased from 1984 to 1999, using data from the Assets and Debt Survey and the Survey of Financial Security.
Release date: 2002-09-17 - Articles and reports: 11F0019M2002187Geography: CanadaDescription:
Using data from the Assets and Debts Survey of 1984 and the Survey of Financial Security of 1999, we document the evolution of wealth inequality in Canada between 1984 and 1999. Our main findings are as follows: 1) wealth inequality has increased between 1984 and 1999, 2) the growth in wealth inequality has been associated with substantial declines in real average and median wealth for young couples with children and recent immigrants, 3) real median wealth and real average wealth rose much more among family units whose major income recipient is a university graduate than among other family units, 4) real median and average wealth fell among family units whose major income recipient is aged 25-34 and increased among those whose major income recipient is aged 55 and over, 5) the aging of the Canadian population over the 1984-1999 period has tended to reduce wealth inequality, 6) diverging changes in permanent income do not explain a substantial portion of the growing gap between low-wealth and high-wealth family units. Factors that may have contributed to rising wealth inequality - which cannot be quantified with existing data sets - include differences in the growth of inheritances, inter vivos transfers, rates of return on savings and number of years worked full-time. In particular, rates of return on savings may have increased more for wealthy family units than for their poorer counterparts as a result of the booming stock market during the 1990s.
Release date: 2002-02-22
Reference (1)
Reference (1) ((1 result))
- Notices and consultations: 13F0026M1999001Description:
The main objectives of a new Canadian survey measuring asset and debt holding of families and individuals will be to update wealth information that is over one decade old; to improve the reliability of the wealth estimates; and, to provide a primary tool for analysing many important policy issues related to the distribution of assets and debts, future consumption possibilities, and savings behaviour that is of interest to governments, business and communities.
This paper is the document that launched the development of the new asset and debt survey, subsequently renamed the Survey of Financial Security. It looks at the conceptual framework for the survey, including the appropriate unit of measurement (family, household or person) and discusses measurement issues such as establishing an accounting framework for assets and debts. The variables proposed for inclusion are also identified. The paper poses several questions to readers and asks for comments and feedback.
Release date: 1999-03-23
- Date modified: