The DOI matches its Crossref record; 7 of the 7 references it cites were found in a registry or an index.
High School Curriculum and Financial Outcomes: The Impact of Mandated Personal Finance and Mathematics Courses
Abstract
Financial literacy and cognitive capabilities are convincingly linked to the quality of financial decision-making. Yet, there is little evidence that education intended to improve financial decision-making is successful. Using plausibly exogenous variation in exposure to state-mandated personal finance and mathematics high school courses, affecting millions of students, this paper answers the question “Can high school graduation requirements impact financial outcomes?” The answer is yes, although not via traditional personal finance courses, which we find have no effect on financial outcomes. Instead, we find additional mathematics training leads to greater financial market participation, investment income, and better credit management, including fewer foreclosures.
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Cites
How Much Should We Trust Differences-in-Differences Estimates?
Bertrand, M., Duflo, E., & Mullainathan, S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839588 · Cited by 10,641
Financial literacy and stock market participation
van Rooij, M., Lusardi, A., & Alessie, R. (2011) · Journal of Financial Economics · doi:10.1016/j.jfineco.2011.03.006 · Cited by 3,554
Financial Literacy Among the Young
Lusardi, A., Mitchell, O. S., & Curto, V. (2009) · SSRN Electronic Journal · doi:10.2139/ssrn.1476982 · Cited by 1,804
Financial Literacy, Financial Education, and Economic Outcomes
Hastings, J. S., Madrian, B. C., & Skimmyhorn, W. L. (2013) · Annual Review of Economics · doi:10.1146/annurev-economics-082312-125807 · Cited by 1,041
$100 Bills on the Sidewalk: Suboptimal Investment in 401(k) Plans
Choi, J. J., Laibson, D., & Madrian, B. C. (2011) · Review of Economics and Statistics · doi:10.1162/rest_a_00100 · Cited by 354
Nonexperimental Versus Experimental Estimates of Earnings Impacts
Glazerman, S., Levy, D. M., & Myers, D. (2003) · The ANNALS of the American Academy of Political and Social Science · doi:10.1177/0002716203254879 · Cited by 352
The Effect of High School Courses on Earnings
Rose, H., & Betts, J. R. (2004) · Review of Economics and Statistics · doi:10.1162/003465304323031076 · Cited by 317
Cited by
Financial Education Affects Financial Knowledge and Downstream Behaviors
Kaiser, T., Lusardi, A., Menkhoff, L., & Urban, C. (2022) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.09.022 · Cited by 508
Smart Money? The Effect of Education on Financial Outcomes
Cole, S., Paulson, A., & Shastry, G. K. (2014) · Review of Financial Studies · doi:10.1093/rfs/hhu012 · Cited by 301
Self-citationThe effects of high school personal financial education policies on financial behavior
Urban, C., Schmeiser, M., Collins, J. M., & Brown, A. (2020) · Economics of Education Review · doi:10.1016/j.econedurev.2018.03.006 · Cited by 207
Metadata
- Authors
- Cole, S., Paulson, A., & Shastry, G. K.
- Venue
- Journal of Human Resources
- Publisher
- University of Wisconsin Press
- Published
- 2015-11-30
- Volume
- 51
- Issue
- 3
- Pages
- 656-698
- ISSN
- 0022-166X (ISSN-L)
- 1548-8004
- OpenAlex
- W62189294
- Cited by
- 185
- References
- 7
- FWCI
- 44.21
- Type
- journal article
- Language
- en
- Open access
- closed
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- Cole, S., Paulson, A., & Shastry, G. K. (2016). High School Curriculum and Financial Outcomes: The Impact of Mandated Personal Finance and Mathematics Courses. Journal of Human Resources. https://doi.org/10.3368/jhr.51.3.0113-5410r1
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
