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- 1. The evolution of wealth over the life cycle ArchivedArticles and reports: 75-001-X201200311690Geography: CanadaDescription:
Canadians accumulate wealth to deal with unforeseen circumstances, fund their children's education, invest in business opportunities and fund their retirement, among other reasons. Wealth is therefore a key indicator of household financial well-being. However, the financial and housing markets in which households invest have changed substantially. This study develops a synthetic cohort approach to examine the effect of these changes on the wealth accumulation of successive generations of Canadians' with a particular focus on younger households.
Release date: 2012-06-22 - 2. Homeownership over the Life Course of Canadians: Evidence from Canadian Censuses of Population ArchivedArticles and reports: 11F0019M2010325Geography: CanadaDescription:
Homeownership affects investment, consumption, and savings decisions of households, and plays a major role in post-retirement well-being. This paper examines two questions. First, to what extent do Canadians acquire and retain homeownership at different life-course stages, particularly after retirement? Second, has the age profile of homeownership changed over generations?
Using data from eight Canadian censuses of population, conducted between 1971 and 2006, we find a strong regularity in the age profile of homeownership across generations of Canadians. The homeownership rate rises quickly with the age of household maintainers (i.e., the person(s) who pay(s) for shelter costs) in the period before the age of 40, and continues to climb thereafter at a slower pace until reaching the plateau near age 65, when about three quarters of Canadian households own their homes. We find that the homeownership rate changes little from age 65 to 74 but starts declining after age 75. As well, we note that the level at which homeownership plateaus has risen steadily across birth cohorts since the 1970s.
Release date: 2010-06-07 - Articles and reports: 11-008-X200900210891Geography: CanadaDescription:
More than four in ten Canadians reported a major change in their lives in the last twelve months. Using the 2008 General Social Survey on social networks, this article examines the types of change, their impact and how they are handled at various life stages. Results show that social networks, especially family, played an important role in dealing with change.
Release date: 2009-06-26 - Articles and reports: 11-008-X20060019182Geography: CanadaDescription:
This paper uses the 2003 General Social Survey (GSS) to examine the extent to which Canadians aged 15 and over feel a sense of mastery, or responsibility for what happens to them in life. A mastery scale, comprised of seven indicators measuring such elements as the respondent's perceived control over things that happen in life, problem solving capability, feelings of helplessness and the ability to accomplish goals, was used in the analysis. A statistical model was also designed to examine the influence of a number of socio-demographic, family, economic, community and well-being characteristics on the respondent's sense of personal control.
Release date: 2006-06-28 - 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 - Surveys and statistical programs – Documentation: 11F0019M2003207Geography: CanadaDescription:
The estimation of intergenerational earnings mobility is rife with measurement problems since the research does not observe permanent, lifetime earnings. Nearly all studies make corrections for mean variation in earnings because of the age differences among respondents. Recent works employ average earnings or instrumental variable methods to address the effects of measurement error as a result of transitory earnings shocks and mis-reporting. However, empirical studies of intergenerational mobility have paid no attention to the changes in earnings variance across the life cycle suggested by economic models of human capital investment.
Using information from the Intergenerational Income Data from Canada and the National Longitudinal Survey and Panel Study of Income Dynamics from the United States, this study finds a strong association between age at observation and estimated earnings persistence. Part of this age-dependence is related to a general increase in transitory earnings variance during the collection of data. An independent effect of life cycle investment is also identified. These findings are then applied to the variation among intergenerational earnings persistence studies. Among studies with similar methodologies, one-third of the variance in published estimates of earnings persistence is attributable to cross-study differences in the age of responding fathers. Finally, these results call into question tests for the importance of credit constraints based on measures of earnings at different points in the life cycle.
Release date: 2003-08-05 - Articles and reports: 11F0019M1998113Geography: CanadaDescription:
Our objective is to obtain an accurate estimate of the degree of intergenerational income mobility in Canada. We use income tax information on about 400,000 father-son pairs, and find intergenerational earnings elasticities to be about 0.2. Earnings mobility tends to be slightly greater than income mobility, but non-parametric techniques uncover significant non-linearities in both of these relationships. Intergenerational earnings mobility is greater at the lower end of the income distribution than at the upper end, and displays an inverted V-shape elsewhere. Intergenerational income mobility follows roughly the same pattern, but is much lower at the very top of the income distribution.
Release date: 1998-10-27 - Articles and reports: 75F0002M1996011Description:
This paper looks at the family data from the Survey of Labour and Income Dynamics (SLID). It also provides an explanation of the approach used in the SLID to convey changes in the family as well as examples to indicate how family data can be analysed longitudinally.
Release date: 1997-12-31
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- 1. The evolution of wealth over the life cycle ArchivedArticles and reports: 75-001-X201200311690Geography: CanadaDescription:
Canadians accumulate wealth to deal with unforeseen circumstances, fund their children's education, invest in business opportunities and fund their retirement, among other reasons. Wealth is therefore a key indicator of household financial well-being. However, the financial and housing markets in which households invest have changed substantially. This study develops a synthetic cohort approach to examine the effect of these changes on the wealth accumulation of successive generations of Canadians' with a particular focus on younger households.
Release date: 2012-06-22 - 2. Homeownership over the Life Course of Canadians: Evidence from Canadian Censuses of Population ArchivedArticles and reports: 11F0019M2010325Geography: CanadaDescription:
Homeownership affects investment, consumption, and savings decisions of households, and plays a major role in post-retirement well-being. This paper examines two questions. First, to what extent do Canadians acquire and retain homeownership at different life-course stages, particularly after retirement? Second, has the age profile of homeownership changed over generations?
Using data from eight Canadian censuses of population, conducted between 1971 and 2006, we find a strong regularity in the age profile of homeownership across generations of Canadians. The homeownership rate rises quickly with the age of household maintainers (i.e., the person(s) who pay(s) for shelter costs) in the period before the age of 40, and continues to climb thereafter at a slower pace until reaching the plateau near age 65, when about three quarters of Canadian households own their homes. We find that the homeownership rate changes little from age 65 to 74 but starts declining after age 75. As well, we note that the level at which homeownership plateaus has risen steadily across birth cohorts since the 1970s.
Release date: 2010-06-07 - Articles and reports: 11-008-X200900210891Geography: CanadaDescription:
More than four in ten Canadians reported a major change in their lives in the last twelve months. Using the 2008 General Social Survey on social networks, this article examines the types of change, their impact and how they are handled at various life stages. Results show that social networks, especially family, played an important role in dealing with change.
Release date: 2009-06-26 - Articles and reports: 11-008-X20060019182Geography: CanadaDescription:
This paper uses the 2003 General Social Survey (GSS) to examine the extent to which Canadians aged 15 and over feel a sense of mastery, or responsibility for what happens to them in life. A mastery scale, comprised of seven indicators measuring such elements as the respondent's perceived control over things that happen in life, problem solving capability, feelings of helplessness and the ability to accomplish goals, was used in the analysis. A statistical model was also designed to examine the influence of a number of socio-demographic, family, economic, community and well-being characteristics on the respondent's sense of personal control.
Release date: 2006-06-28 - 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 - Articles and reports: 11F0019M1998113Geography: CanadaDescription:
Our objective is to obtain an accurate estimate of the degree of intergenerational income mobility in Canada. We use income tax information on about 400,000 father-son pairs, and find intergenerational earnings elasticities to be about 0.2. Earnings mobility tends to be slightly greater than income mobility, but non-parametric techniques uncover significant non-linearities in both of these relationships. Intergenerational earnings mobility is greater at the lower end of the income distribution than at the upper end, and displays an inverted V-shape elsewhere. Intergenerational income mobility follows roughly the same pattern, but is much lower at the very top of the income distribution.
Release date: 1998-10-27 - Articles and reports: 75F0002M1996011Description:
This paper looks at the family data from the Survey of Labour and Income Dynamics (SLID). It also provides an explanation of the approach used in the SLID to convey changes in the family as well as examples to indicate how family data can be analysed longitudinally.
Release date: 1997-12-31
Reference (1)
Reference (1) ((1 result))
- Surveys and statistical programs – Documentation: 11F0019M2003207Geography: CanadaDescription:
The estimation of intergenerational earnings mobility is rife with measurement problems since the research does not observe permanent, lifetime earnings. Nearly all studies make corrections for mean variation in earnings because of the age differences among respondents. Recent works employ average earnings or instrumental variable methods to address the effects of measurement error as a result of transitory earnings shocks and mis-reporting. However, empirical studies of intergenerational mobility have paid no attention to the changes in earnings variance across the life cycle suggested by economic models of human capital investment.
Using information from the Intergenerational Income Data from Canada and the National Longitudinal Survey and Panel Study of Income Dynamics from the United States, this study finds a strong association between age at observation and estimated earnings persistence. Part of this age-dependence is related to a general increase in transitory earnings variance during the collection of data. An independent effect of life cycle investment is also identified. These findings are then applied to the variation among intergenerational earnings persistence studies. Among studies with similar methodologies, one-third of the variance in published estimates of earnings persistence is attributable to cross-study differences in the age of responding fathers. Finally, these results call into question tests for the importance of credit constraints based on measures of earnings at different points in the life cycle.
Release date: 2003-08-05
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