http://www.mrrc.isr.umich.edu/publications/papers/pdf/wp237.pdf
Complete Description:This study explores the relationship between general human capital investment, financial knowledge, occupational spillovers, and the accumulation of wealth in a primarily descriptive manner. Drawing upon human capital theory and following previous related work by Delavande, Rohwedder and Willis (2008), we hypothesized that individuals with daily exposure to financial knowledge through their occupation would benefit by having greater financial knowledge that would translate into greater wealth accumulation than individuals who do not enjoy such spillovers from their occupation. Using data from the Cognitive Economics Study and the Health and Retirement Study, we find strong evidence that individuals in financial occupations tend to have greater financial knowledge and moderate evidence that they also have greater wealth accumulation.
Date Published:Friday, October 01, 2010
Author:Brooke Helppie, Robert Willis and Kandice Kapinos
Funding Agency: Social Security Administration
Type: Working paper;
Source: Survey data;
Language: English
Audience: Researcher