Cognition and Economic Outcomes in the Health and Retirement Survey

John J. McArdle, James Smith and Robert Willis

No 15266, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: J0 (search for similar items in EconPapers)
Date: 2009-08
New Economics Papers: this item is included in nep-age
Note: AG
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Citations: View citations in EconPapers (58)

Published as 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

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Chapter: Cognition and Economic Outcomes in the Health and Retirement Survey (2011)
Working Paper: Cognition and Economic Outcomes in the Health and Retirement Survey (2009)
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