Education and saving: The long-term effects of high school financial curriculum mandates

• 成果类型: Article
• 署名作者: Bernheim, BD; Garrett, DM; Maki, DM
• 署名单位: Stanford University; National Bureau of Economic Research; Federal Reserve System - USA
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(00)00120-1
• 发表日期: 2001
• 页码: 435-465
• 关键词: saving; education

摘要

Over the last 40 years, a majority of stares have adopted consumer education policies, and a sizable minority have mandated that high school students receive instruction on topics related to household financial decision-making. In this paper, we attempt to determine whether these mandates have had any effect on subsequent decisions. We exploit the variation in requirements both across states and over time to identify the effects of interest. The evidence indicates that mandates have raised both exposure to financial curricula and subsequent asset accumulation once exposed students reached adulthood. The estimated effects are gradual, probably due to implementation lags. (C) 2001 Elsevier Science B.V. All rights reserved.