MARC Record from Library of Congress

LEADER: 02169nam a22002777a 4500
001 2011655658
003 DLC
005 20110222144316.0
007 cr |||||||||||
008 110222s2010 mau sb 000 0 eng
010 $a 2011655658
040 $aDLC$cDLC
050 00 $aHB1
245 00 $aFinancial literacy, schooling, and wealth accumulation$h[electronic resource] /$cJere R. Behrman ... [et al.].
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2010.
490 1 $aNBER working paper series ;$vworking paper 16452
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 2/22/2011.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. Financial literacy and schooling attainment have been linked to household wealth accumulation. Yet prior findings may be biased due to noisy measures of financial literacy and schooling, as well as unobserved factors such as ability, intelligence, and motivation that could enhance financial literacy and schooling but also directly affect wealth accumulation. We use a new household dataset and an instrumental variables approach to isolate the causal effects of financial literacy and schooling on wealth accumulation. While financial literacy and schooling attainment are both strongly positively associated with wealth outcomes in linear regression models, our approach reveals even stronger and larger effects of financial literacy on wealth. Estimated impacts are substantial enough to suggest that investments in financial literacy could have large positive effects on household wealth accumulation"--National Bureau of Economic Research web site.
700 1 $aBehrman, Jere R.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 16452.
856 40 $uhttp://www.nber.org/papers/w16452