The average white male born in 1900 earned 2.6 times more labor income over their lifetime than the average Black male. This gap is nearly twice as large as the more commonly studied cross-sectional Black–white earnings gap because 48% of Black males born in 1900 died before the age of 30 as compared to just 26% of white males. We calibrate a model of optimal consumption in a world with mortality risk to data describing the life-cycle earnings and survival probabilities of Black and white males born between 1900 and 1970. We find that convergence in Black and white mortality rates led to a 50% reduction in Black–white welfare gaps between the 1900 and 1920 birth cohorts, even as cross-sectional Black–white income gaps for those cohorts remained relatively constant. However, the Black–white welfare gap stagnated for the 1920 to 1970 birth cohorts as gaps in Black–white life expectancy and income remained stable and large.

中文翻译：

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黑人与白人的终生收入差距


1900 年出生的白人男性一生中的平均劳动收入是黑人男性平均的 2.6 倍。这个差距几乎是更常用研究的横断面黑人-白人收入差距的两倍，因为 48 年出生的黑人男性中有 1900% 在 30 岁之前死亡，而白人男性只有 26%。我们将一个在有死亡风险的世界中的最佳消费模型与描述 1900 年至 1970 年间出生的黑人和白人男性的生命周期收入和生存概率的数据进行校准。我们发现，黑人和白人死亡率的趋同导致 50 年和 1900 年出生队列之间的黑人-白人福利差距减少了 1920%，即使这些队列的横截面黑人-白人收入差距保持相对恒定。然而，由于 1920 年至 1970 年出生队列的黑人和白人福利差距保持稳定和巨大，黑人和白人的福利差距停滞不前。