Racial differences in the relationship between the receipt of informal financial support and social insurance
Bibliographic Data
| ID | 9255609 |
|---|---|
| Authors | Dania V Francis (0000-0002-6251-0992, University of Massachusetts Boston, corresponding author), Christian E Weller (0000-0002-6632-1654, University of Massachusetts Boston), Emek Karakilic (0000-0002-3416-3866, University of Massachusetts Boston), Maryam Salihu (Department of Economics, American University, Washington, DC, USA), Maryam Muhammad Salihu (American University) |
| Year | 2024 |
| Volume | 82 |
| Issue | 2 |
| Pages | 184-212 |
| Publication date | 2024-04-02 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Social Economy (JOURNAL) |
| Journal identifiers | ISSN: 0034-6764 • E-ISSN: 1470-1162 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/00346764.2023.2241431 |
| OpenAlex | W4385602794 |
| Language | EN |
| References cited | 24 |
In this paper, we examine the relationship between the reliance on informal financial support and social insurance programs such as unemployment insurance to meet financial hardships imposed during the economic downturn associated with COVID-19. We use the U.S. Census Bureau’s Household Pulse Survey to compare the likelihood of receiving informal financial support from family and friends for households that did or did not receive social insurance controlling for observable household characteristics. We pay special attention to differences by race/ethnicity and by homeownership – a proxy for wealth. Our results suggest that (1) some types of social insurance receipt are a weak substitute for informal financial support, (2) the substitution between informal financial support and social insurance receipt is stronger among White households than households of color, and (3) wealth is a more consistent buffer against financial hardship than social insurance receipt
Actuarial science · Business · Census · Demographic economics · Economic growth · Economics · Receipt · Sample (material) · Sociology · Survey data collection · Unemployment · Accounting · Demography · Finance · Financial Literacy, Pension, Retirement Analysis · Homelessness and Social Issues · Urban, Neighborhood, and Segregation Studies
Racial Differences in Patterns of Wealth Accumulation
Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances
Gender and Precarious Work in the United States
Multiple Imputation for Nonresponse in Surveys
Generations of Advantage. Multigenerational Correlations in Family Wealth
Depleting Capital? Race, Wealth and Informal Financial Assistance
Ethnic and racial disparities in saving behavior
Universal Cash Transfers and Labor Market Outcomes
Family Connections and the Black-White Wealth Gap among Middle-Class Families
The Correlation of Wealth across Generations
Financialization and U.S. Income Inequality, 1970–2008
The Family Safety Net of Black and White Multigenerational Families
Racial Disparities in Student Debt and the Reproduction of the Fragile Black Middle Class
| Citation velocity | historical |
|---|---|
| Highly cited | No |