Abstract
Using data from the Chicago Area Survey (CAS), our study explores the impact of individual characteristics and factors linked to assimilation and ethnic attachment on the financial behaviors of Latinos in the United States. We particularly examine generational variations in the amount and determinants of remittance behavior among Latinos in the Chicago Metropolitan area. Our findings reveal distinct generational patterns in remittance practices as a transnational activity. While second-generation Latinos engage in remittance activities comparably to their foreign-born parents, a significant decrease is observed in third and subsequent generations. Interestingly, remittance behavior appears to be inversely related to traditional assimilation measures. Contradicting straightforward assimilation theories and aligning more with a transnational viewpoint, our multivariate models suggest a positive correlation between remittance activities and various integration indicators for both foreign-born and U.S.-born Latinos in the Chicago area. While a generational decline in remittance behavior supports assimilation theory, the positive ties between socioeconomic status or assimilation indicators and remittance activities prompt a reevaluation of the assimilation model's dominance. Our results suggest a complex interplay between assimilation processes and remittance behavior, indicating that the latter doesn't necessarily decrease as the former progresses. This calls for more research into the intricate relationship between these two dynamics.
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