USC College of Letters, Arts and Sciences
3551 Trousdale Pkwy.
Los Angeles, CA 90089-4012
NBER Working Papers and Publications
|March 2011||Cognition and Economic Outcomes in the Health and Retirement Survey|
with James P. Smith, Robert Willis
in Explorations in the Economics of Aging, David A. Wise, editor
|August 2009||Cognition and Economic Outcomes in the Health and Retirement Survey|
with James P. Smith, Robert Willis: w15266
Dimensions of cognitive skills are potentially important but often neglected determinants of the central economic outcomes that shape overall well-being over the life course. There exists enormous variation among households in their rates of wealth accumulation, their holdings of financial assets, and the relative risk in their chosen asset portfolios that have proven difficult to explain by conventional demographic factors, the amount of bequests they receive or anticipating giving, and the level of economic resources of the household. These may be cognitively demanding decisions at any age but especially so at older ages. This research examines the association of cognitive skills with wealth, wealth growth, and wealth composition for people in their pre and post-retirement years.
Published: Cognition and Economic Outcomes in the Health and Retirement Survey, John J. McArdle, James P. Smith, Robert Willis. in Explorations in the Economics of Aging, Wise. 2011