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Working Paper
The occupational assimilation of Hispanics in the U.S.: evidence from panel data
This study investigates whether Hispanic immigrants assimilate in occupational status with natives and the factors that determine occupational status. A theoretical framework is proposed that models occupational status and convergence of Hispanics relative to U.S.-born non-Hispanics as a function of human capital and demographic exogenous variables, U.S. experience (assimilation effects) and periods of migration (cohort effects). In addition, the model also controls for aggregate economic conditions and location effects. The empirical testing is based on a random effects model estimation procedure to accommodate the longitudinal PSID panel data used in the analysis. The results suggest that length of time resided in the U.S. narrows the occupational gap between Hispanic immigrants and non- Hispanic Whites and U.S.- born Hispanic counterparts. ; The level of individuals? human capital affects the rate of occupational mobility and determines whether convergence occurs in occupational status. Mexican immigrants with low human capital start in occupations with relatively low status and they do not experience much occupational mobility. Their occupational status does not converge with that of non-Hispanic or U.S.-born Hispanic counterparts. However, Mexican immigrants with high human capital experience occupational mobility, and catch up with non-Hispanic Whites after 15 years and with U.S.-born Hispanics after 10 years of working in the U.S.
AUTHORS: Toussaint-Comeau, Maude
DATE: 2004
Working Paper
Do enclaves matter in immigrants’ self-employment decision?
This paper uses 2000 U.S. Census data to study the determinants of self-employment decisions among immigrants. It outlines a theoretical framework for analyzing the role of ethnic enclaves in the self-employment decision of immigrants that captures nuances involved in the interaction between ethnic enclaves and different ethnic groups. It assesses the effect of ethnic enclaves for different groups and explores explanations for differences. The results show that higher ethnic concentration in metropolitan areas is positively related to the probability of self-employment of immigrants. However, the significance of ethnic concentration for self-employment differs by the country or region of origin of immigrants. The relationship between location and self-employment probability of immigrants is reinforced by other metropolitan area-specific characteristics that include labor market factors, such as the unemployment rate, the self-employment rate, the monetary returns to self-employment relative to wage employment, and the success of self-employed co-ethnic members.
AUTHORS: Toussaint-Comeau, Maude
DATE: 2005
Working Paper
Health and the savings of insured versus uninsured, working-age households in the U.S.
This paper examines the effect of a decline in health on the savings and portfolio choice of young, working individuals and the differences between insured and uninsured cohorts using the 2001 Survey of Income and Program Participation. We find that insured individuals are significantly likely to divest from risky asset holdings in response to a decline in health, controlling for variables such as income, age, and out-of-pocket medical expenses. Unlike many previous papers, which dismiss health and portfolio choice associations among retired individuals on the basis of unobserved heterogeneity, we find that our results for working individuals are robust when using fixed effects models in a three-year longitudinal panel. Consistent with an overall theory of risk, we find that the relationship between an onset of poor health and an increased aversion to risky assets among the insured is strongest (only apparent) among married-couple households.
AUTHORS: Toussaint-Comeau, Maude; Hartley, Jonathan
DATE: 2009
Working Paper
The impact of Mexican immigrants on U.S. wage structure
Previous study by Card and Lewis (2005) has found (puzzling) that inflows of Mexican immigrants into ?new? metropolitan areas have had no effect on the relative wages of very low-skill (high school dropouts). Rather, Mexican workers do affect relative wages for high school graduates. Whereas Card and Lewis? study uses variations across geographies, this paper considers variations across occupations. Recognizing that Mexican immigrants are highly occupationally clustered (disproportionately work in distinctive ?very low wage? occupations), we use this fact to motivate the empirical approach to analyze the relationship between the composition of Mexican immigrants across occupations/industries and average wages in the occupations/industries. To summarize our finding, we confirm that in spite of the fact that Mexican immigrants are disproportionately in ?very low skill? occupations, (which we define as occupations where the average workers have no high school education), we find no significant impact of Mexican immigrants on wages in those occupations. By contrast, inflows of Mexican immigrants have some small effects on the wages of native workers in ?low skill? occupations (which we define as occupations where the average worker has at least some high school education or is a high school graduate). These results suggest potential ?spill over effects? as natives may be reallocating their labor supply into non-predominant Mexican occupations. An analysis of employment changes of natives into different occupation groupings in response to an inflow of Mexican immigrants, confirms that natives? employment in occupations where the average worker has a high school education increases in response to Mexican inflows in the U.S labor force from previous periods.
AUTHORS: Toussaint-Comeau, Maude
DATE: 2007
Discussion Paper
Increasing participation in mainstream financial markets by black households
AUTHORS: Rhine, Sherrie L. W.; Toussaint-Comeau, Maude
DATE: 2000
Discussion Paper
The homeownership and financing experience in two Chicago minority neighborhoods
This article documents the homeownership and financing decisions made by Hispanic and Black households in two Chicago ethnic communities to help policy makers, financial institutions and community leaders better understand the homeownership process for these two minority groups. Based on our findings, several policy initiatives and programs are proposed to improve the quality of financial literacy and ultimately for Hispanic and Black households.
AUTHORS: Rhine, Sherrie L. W.; Toussaint-Comeau, Maude
DATE: 2000
Discussion Paper
Access to credit and financial services among black households
AUTHORS: Rhine, Sherrie L. W.; Toussaint-Comeau, Maude
DATE: 2000
Discussion Paper
Ethnic immigrants enclaves and homeownership: a case study of an urban Hispanic community
AUTHORS: Toussaint-Comeau, Maude; Rhine, Sherrie L. W.
DATE: 2000
Discussion Paper
Delivery of financial literacy programs
A critical challenge faced by educators, community leaders and policy makers is to bring financial literacy and consumer education effectively to their constituencies. Based on the qualitative evidence gleaned from focus groups, we take a pragmatic approach in proposing ways to deliver financial literacy programs to adults. This article makes several suggestions for implementing financial literacy programs, from outlining important financial literacy and consumer education topics to discussing the logistics of using various method of outreach activities.
AUTHORS: Rhine, Sherrie L. W.; Toussaint-Comeau, Maude
DATE: 2000
Journal Article
Minority-Owned Banks and Their Primary Local Market Areas
In this article, we analyze the experience and performance of MDIs in their primary local service areas in recent periods, including before, during, and after the 2008 financial crisis. We provide a review of the sector, highlighting key policies and initiatives pertaining to and affecting these institutions, and provide a brief review of previous research. We document trends in the sector, including: 1) the characteristics of the locations where MDIs tend to do business; 2) the changing landscape of MDIs in terms of openings, closings, and mergers by ethnic ownership; and 3) the performance of MDIs as measured by selected financial ratios, including loan quality, operating income, and funding sources. We present these trends over time, comparing MDIs with nonminority-owned (non-MDI) community banks.
AUTHORS: Toussaint-Comeau, Maude; Newberger, Robin G.
DATE: 2017