Health insurance coverage and the role of income uncertainty

This paper uses the National Longitudinal Survey data set to examine the role of income uncertainty in explaining the likelihood of health insurance coverage among individuals. After controlling for a number of socioeconomic, demographic, and behavioral factors, the results suggest that individuals who face greater income uncertainty are less likely to have health insurance coverage. Additionally, the likelihood of health insurance coverage increases with income and educational attainment.Health Insurance, Income Uncertainty, Uninsured, Income

Financial Confidence Among Retirees: The Role of Financial Advice and Planning Duration

This paper examines the factors contributing to the financial confidence of retirees using the 2008 wave of a new nationally representative proprietary dataset of retirees. The results indicate that income, risk tolerance, duration of pre-retirement financial planning, and the utilization of professional financial advice are positive predictors of retirement confidence. The results also indicate that retirees with defined benefit plans are more likely to be confident about their retirement and conversely, retirees with defined contribution plans are less likely to be confident about their retirement. This paper provides useful discussion for financial planning practitioners, economists, and policy makers.Retirement planning, Financial advice, Planning duration

A road to assimilation: immigrants and financial markets

This paper compares the financial market participation of immigrants and native-born Americans. Financial asset ownership is examined after controlling for the immigrants’ country of origin using a nationally representative National Longitudinal Survey (NLSY79) data set. The determinants of preference for financial asset ownership and the amount of financial equity held by households are estimated using a two-stage procedure. The results indicate that immigrants are less likely to own financial assets and more likely to have lower financial equity than native-born residents. Income uncertainty and risk tolerance of immigrants are associated with their preference for financial investments. Immigrants’ years of residence in the United States also increase their financial asset ownership. A discussion of the implications of these findings for policy makers, immigration researchers, and scholars of household savings behavior is also included

Homeownership and Housing Equity: An Examination of Native- Immigrant Differences in Housing Wealth

This paper examines the differences in homeownership between immigrants and native-born residents using the National Longitudinal Survey of Youth 1979 (NLSY79) data. We estimate the preference for homeownership and the amount of home equity held by households using a two-stage procedure. The results indicate that, although immigrants are less likely to be homeowners, immigrants who make the decision to own homes are more likely to have greater housing equity than native-born residents. About 66 to 70% of the disparity in homeownership can be explained by the difference in characteristics. The remaining disparity results from different homeownership functions estimated for the two groups. We discuss the implications of these findings for policy makers, real estate market researchers, and scholars of consumer behavior. © 2011 International Atlantic Economic Society

Homeownership and Housing Equity: An Examination of Native- Immigrant Differences in Housing Wealth

Investment decision, Housing equity, Immigration, Homeownership, E20, J10,