Life-Cycle and Its Impact on the Disparity in Economic Well-Being among U.S. Sole Proprietor Households: Evidence from Two National Surveys

Abstract

The impact of age on the distribution of wealth among U.S. sole proprietor households is analyzed using data from two national surveys in conjunction with disparity and social welfare decomposition methods. Results show higher disparity in wealth when the household is a non-farm rather than a farm sole proprietor household. The cohort with the greatest need in terms of targeted programs is the group of farm or non-farm households headed by individuals younger than 35.