The Effects of Medicaid and Medicare Reforms on the Elderly s Savings and Medical Expenditures

TitleThe Effects of Medicaid and Medicare Reforms on the Elderly s Savings and Medical Expenditures
Publication TypeReport
Year of Publication2010
AuthorsDe Nardi, M, French, E, Jones, JBailey, Michigan Retirement Research Center
InstitutionThe University of Michigan, Michigan Retirement Research Center
KeywordsHealth Conditions and Status, Net Worth and Assets
Abstract

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.

Endnote Keywords

human Capital/financial knowledge/wealth Accumulation/Cognitive Economics Study

Endnote ID

24330

Citation Key5802