The Longitudinal Revolution: Sociological Research at the 50-Year Milestone of the Panel Study of Income Dynamics

Pfeffer, Fabian T.; Fomby, Paula; Insolera, Noura

doi:10.1146/annurev-soc-121919-054821

Cited by 5 publications

(3 citation statements)

References 170 publications

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“…The PSID has been following families and their descendants since 1968 (Pfeffer, Fomby, and Insolera 2020). We study baby boomers born between 1945 and 1964, using all 39 available PSID waves from 1968 to 2015 to identify their homeownership status between ages 25 and 50.…”

Section: Methodsmentioning

confidence: 99%

US baby boomers’ homeownership trajectories across the life course: A Sequence Analysis approach

Shiffer-Sebba¹,

Park²

2021

DemRes

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BACKGROUNDExtensive homeownership research examines rates, transitions, and timing, over short and medium time spans. However, little is known about long-term homeownership patterns over the life course. OBJECTIVEWe document population-level homeownership rates, transitions, and durations over a 26-year time span between ages 25-50 and categorize US baby boomers born between 1945-1964 into discrete trajectories, characterizing their homeownership experiences over the life course. Finally, we examine who is likely to experience each trajectory using key sociodemographic characteristics. METHODSUsing an analytic sample of 4,246 individuals from the Panel Study of Income Dynamics (PSID), we first examine descriptive homeownership statistics over a long duration. Then, we use Sequence Analysis to categorize the population into homeownership clusters. Finally, we employ multinomial logistic regression to predict cluster membership. RESULTSAfter demonstrating that race and education stratify baby boomer homeownership experiences over the life course, we find that three homeownership trajectories characterize the population: consistent owners (47%), consistent nonowners (25%), and late owners (27%). We further find that race, education, and to a lesser degree gender meaningfully predict one's homeownership trajectory. Being Black is the only characteristic for which consistent nonownership is more likely than consistent ownership. Not attending college is the only other characteristic for which late ownership is not more likely than consistent nonownership. 1058 https://www.demographic-research.org CONTRIBUTIONConceptualizing and measuring homeownership as a life course phenomenon over the long term, our study suggests considerable stability of homeownership with experiences shaped by key sociodemographic characteristics.

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Section: Methodsmentioning

confidence: 99%

US baby boomers’ homeownership trajectories across the life course: A Sequence Analysis approach

Shiffer-Sebba¹,

Park²

2021

DemRes

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“…To study changes in wealth and income in the USA through longitudinal data, we downloaded data from the Panel Study for Income Dynamics (PSID) [46], last accessed on 24 March 2023 from https://psidonline.isr. umich.edu/.…”

Section: Datamentioning

confidence: 99%

Unraveling the dynamics of wealth inequality and the impact on social mobility and health disparities

La Porta,

Zapperi

2023

J. Phys. Complex.

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Inequalities in wealth, income, access to food and healthcare have been rising worldwide in the past decades, approaching levels seen in the early 20th century. Here we study the relationships between wealth inequality and mobility for diﬀerent segments of the population, comparing longitudinal surveys conducted in the USA and in Italy. The larger wealth inequality observed in the USA is reﬂected by poorer health conditions than in Italy. We also ﬁnd that in both countries wealth mobility becomes slower at the two extremes of the wealth distribution. Households trapped in a state of persistent lack of wealth are generally experiencing greater food insecurity and poorer health than the general population. We interpret the observed association between inequality and immobility using a simple agent based model of wealth condensation driven by random returns and exchanges. The model describes well survey data on a qualitative level, but the mobility is generally overestimated by the model. We trace back this discrepancy to the way income is generated for low-wealth households which is not correctly accounted by the model. On the other hand, the model is excellent in describing the wealth dynamics within a restricted class of ultra-wealthy, as we demonstrate by analyzing billionaires lists. Our results suggest that diﬀerent forms of inequality are intertwined and should therefore be addressed together.

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“…At the same time, Figure 3 also shows that income measures currently compete with occupation-based measures even in mobility research (18 articles using the former vs. 23 based on social class or status measures), a research field that has historically been dominated by the latter. As household panels that collect prospective income information mature, the problems associated with retrospective measures in intergenerational income mobility studies diminish (Pfeffer, Fomby and Insolera 2020;Turek, Kalmijn and Leopold 2021). Moreover, we know from Figure 2 that 125 out of 319 articles use class or social status measures, and Figure 3 indicates that 70 of these 125 studies analyze social mobility and educational inequalities.…”

Section: Is the Dominance Of Income Measures Domain-specific?mentioning

confidence: 99%

The rise of income and the demise of class and social status? A systematic review of measures of socio-economic position in stratification research

Barone

Hertel

Smallenbroek

2022

Research in Social Stratification and Mobility

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The Longitudinal Revolution: Sociological Research at the 50-Year Milestone of the Panel Study of Income Dynamics

Cited by 5 publications

References 170 publications

US baby boomers’ homeownership trajectories across the life course: A Sequence Analysis approach

US baby boomers’ homeownership trajectories across the life course: A Sequence Analysis approach

Unraveling the dynamics of wealth inequality and the impact on social mobility and health disparities

The rise of income and the demise of class and social status? A systematic review of measures of socio-economic position in stratification research

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