Does College Level the Playing Field? Racial and Ethnic Differences in Family Wealth Among College-Educated Families

May 25-26, 2016

Recent research, led by William R. Emmons of the St. Louis Fed’s Center for Household Financial Stability, found that a college degree predicted rising levels of family wealth between 1992-2013 for whites and Asians, but declining levels of wealth over that period for blacks and Hispanics. This finding generated media coverage from The New York Times and many other national outlets. Through commissioned papers, the symposium aimed to better understand the underlying explanations of this troubling finding. New papers addressed differing experiences with homeownership, mortgages, student loans, family formation, inheritances, post-college labor markets and pre-college environments.

Event Details

Detailed Agenda (pdf)

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Please note: Papers and presentation slides are in PDF format unless otherwise noted.

May 25

Welcome

video

  • Robert Hopkins, Vice President and Regional Executive, Federal Reserve Bank of St. Louis

  • Ray Boshara, Senior Adviser and Director, Center for Household Financial Stability, Federal Reserve Bank of St. Louis

Opening Roundtable: Why Does Wealth Vary among College Graduates?

paper | slides | video

Authors

  • William R. Emmons, Senior Economic Adviser, Center for Household Financial Stability, Federal Reserve Bank of St. Louis

  • Lowell R. Ricketts, Senior Analyst, Center for Household Financial Stability, Federal Reserve Bank of St. Louis

Discussants

  • Angelyque Campbell, Manager, Policy Analysis, Federal Reserve Board

  • Su Jin Jez, Associate Professor, Public Policy and Administration, Sacramento State University

  • Eric Rodriguez, Vice President, Office of Research, Advocacy, and Legislation, National Council of La Raza (NCLR)

Moderator

  • Michael Fletcher, Senior Writer, "The Undefeated," ESPN/Formerly, National Economics Correspondent, The Washington Post

Panel Discussion
video

Q and A Session
video

May 26

The Pre- and Post-College Experiences

Moderator

  • Sol Carbonell, Assistant Vice President, Federal Reserve Bank of Boston
    video

Authors

  • Darrick Hamilton, Associate Professor of Economics and Urban Policy, The New School
    paper | video

  • Cory Koedel, Associate Professor of Economics and Public Policy, University of Missouri-Columbia
    paper | video

Discussant

  • Mark Huelsman, Senior Policy Analyst, Demos
    video

Q and A Session
video

Changes in Family Structure

Author

Discussant

  • George-Levi Gayle, Research Officer, Federal Reserve Bank of St. Louis
    video

Moderator

  • Jami Curley, Associate Professor of Social Work, Saint Louis University

Q and A Session
video

Keynote Conversation

  • Ray Boshara, Senior Adviser and Director, Center for Household Financial Stability, Federal Reserve Bank of St. Louis

  • William A. “Sandy” Darity, Samuel DuBois Cook Professor of Public Policy, Duke University
    video: part 1 | part 2

The Homeownership and Mortgage Experiences

slides | video

Authors

  • Carlos Garriga, Assistant Vice President, Federal Reserve Bank of St. Louis

  • Don Schlagenhauf, Economist, Center for Household Financial Stability, Federal Reserve Bank of St. Louis

  • Lowell R. Ricketts, Senior Analyst, Center for Household Financial Stability, Federal Reserve Bank of St. Louis

Discussant

  • Stephen L. Ross, Professor of Economics, University of Connecticut
    slides | video

Moderator

  • Molly W. Metzger, Assistant Professor, George Warren Brown School of Social Work, Washington University in St. Louis

Q and A Session
video

The Role of Inheritances and Family Transfers

slides | video

Authors

  • Thomas M. Shapiro, Director, Institute on Assets and Social Policy, Brandeis University

  • Tatjana Meschede, Scientist and Senior Lecturer, Brandeis University

Discussant

  • Darrick Hamilton, Associate Professor of Economics and Urban Policy, The New School
    video

Moderator

  • Jason Q. Purnell, Assistant Professor, George Warren Brown School of Social Work, Washington University in St. Louis

Q and A Session
video

Closing Reflection, Moving Forward

  • Dedrick Asante-Muhammad, Director, Racial Wealth Divide Initiative, CFED

  • Maxine Clark, CEO, Clark Fox Family Foundation

  • Kilolo Kijakazi, Institute Fellow, Urban Institute

Moderator

  • Ray Boshara, Senior Adviser and Director, Center for Household Financial Stability, Federal Reserve Bank of St. Louis

Panel Discussion
video

Q and A Session
video

Contact Us:
Media Contact:
Laura Taylor
314-444-8783
laura.taylor@stls.frb.org

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