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Economic Well-Being of the Elderly Immigrant Population

Economic Well-Being of the Elderly Immigrant Population. George J. Borjas Harvard University August 2009. 1 . Elderly immigrants, as share of population. 2 . Questions. What are the trends in the relative economic status of elderly immigrants?

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Economic Well-Being of the Elderly Immigrant Population

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  1. Economic Well-Being of the Elderly Immigrant Population George J. Borjas Harvard University August 2009

  2. 1. Elderly immigrants, as share of population

  3. 2. Questions • What are the trends in the relative economic status of elderly immigrants? • And what factors cause disparities in incomes between elderly immigrants and natives? • Data: 1970-2000 decennial censuses, and the 2005-2007 American Community Surveys.

  4. 3. Income gap between elderly immigrants and natives, 1970-2007

  5. 4. Income gap, by years since migration

  6. 5. Income sources of elderly immigrants and natives, 2007

  7. 6. Log difference in total income, 2000 • Controls in calculating adjusted difference: gender, age, race, educational attainment, marital status, family size, householder status, state of residence.

  8. 7. Log difference in earned income, 2000 • Controls in calculating adjusted difference: gender, age, race, educational attainment, marital status, family size, householder status, state of residence. “Recent immigrants” arrived in the past 10 years.

  9. 8. Log difference in investment income, 2000 • Controls in calculating adjusted difference: gender, age, race, educational attainment, marital status, family size, householder status, state of residence. “Recent immigrants” arrived in the past 10 years.

  10. 9. Log difference in Social Security income, 2000 • Controls in calculating adjusted difference: gender, age, race, educational attainment, marital status, family size, householder status, state of residence. “Recent immigrants” arrived in the past 10 years.

  11. 10. Log difference in “other” retirement income, 2000 • Controls in calculating adjusted difference: gender, age, race, educational attainment, marital status, family size, householder status, state of residence. “Recent immigrants” arrived in the past 10 years.

  12. 11. Log difference in public assistance income, 2000 • Controls in calculating adjusted difference: gender, age, race, educational attainment, marital status, family size, householder status, state of residence. “Recent immigrants” arrived in the past 10 years.

  13. 12. Assimilation and cohort effects The cohort effects measure the difference (holding years-since-migration constant) between the outcomes observed for the immigrant cohort and natives. The assimilation effect measures the difference (for a given cohort) between immigrants who have been in the country at least 10 years and immigrants who have been in the country fewer than 10 years.

  14. 13. National origin differences Log incomes are relative to natives.

  15. 14. Main source countries

  16. 15. Persistence of national origin differences, 1990-2007

  17. 16. Predicted impact of shift in national origin

  18. 17. Conclusion • Significant decline in the relative income of elderly immigrants. In 1970, the average income of elderly immigrants was only 5 percent below that of elderly natives. By 2007, the income gap had widened to 30 percent. • Elderly immigrants have significantly lower recipiency rates for investment incomes, Social Security benefits, and other retirement benefits. But they are more likely to received earned income and public assistance. • The national origin mix of elderly immigrants will shift rapidly, with the aging of the large immigrant population that originated in less developed countries. Because these immigrants tend to exhibit worse economic outcomes, the average income gap between elderly immigrants and natives will widen in the future.

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