Ability, Educational Attainment, and Household Financial Distress

Niilo Luotonen; Vesa Puttonen; Elias Rantapuska

doi:10.1007/s10603-022-09528-1

Ability, Educational Attainment, and Household Financial Distress

Niilo Luotonen
, Vesa Puttonen
, Elias Rantapuska^*

^*Tämän työn vastaava kirjoittaja

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Tutkimustuotos: Lehtiartikkeli › Article › Scientific › vertaisarvioitu

4 Sitaatiot (Scopus)

91 Lataukset (Pure)

Abstrakti

Using register data on the Finnish population, we show that both ability (measured with comprehensive school GPA) and educational attainment are relevant predictors of financial distress, even after accounting for childhood family environment. Low GPA is an especially useful predictor of financial distress years later for those who attain a secondary-level education at most. Our results suggest that any societal interventions to mitigate financial distress should particularly focus on low GPA individuals, and especially those unlikely to continue their studies after completing comprehensive school.

Alkuperäiskieli	Englanti
Sivut	655-672
Sivumäärä	18
Julkaisu	Journal of Consumer Policy
Vuosikerta	45
Numero	4
DOI - pysyväislinkit	https://doi.org/10.1007/s10603-022-09528-1
Tila	Julkaistu - jouluk. 2022
OKM-julkaisutyyppi	A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä

Rahoitus

Open Access funding provided by Aalto University. We gratefully acknowledge financial support from the Academy of Finland and the Foundation for Economic Education. We thank Suomen Asiakastieto Oy and Statistics Finland for the data used in this study. We thank seminar participants at Aalto University for helpful comments and suggestions.

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10.1007/s10603-022-09528-1Lisenssi: CC BY

s10603-022-09528-1Final published version, 1,18 MBLisenssi: CC BY

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title = "Ability, Educational Attainment, and Household Financial Distress",

abstract = "Using register data on the Finnish population, we show that both ability (measured with comprehensive school GPA) and educational attainment are relevant predictors of financial distress, even after accounting for childhood family environment. Low GPA is an especially useful predictor of financial distress years later for those who attain a secondary-level education at most. Our results suggest that any societal interventions to mitigate financial distress should particularly focus on low GPA individuals, and especially those unlikely to continue their studies after completing comprehensive school.",

keywords = "Cognitive ability, Educational attainment, Financial distress, Noncognitive ability",

author = "Niilo Luotonen and Vesa Puttonen and Elias Rantapuska",

note = "Funding Information: Open Access funding provided by Aalto University. We gratefully acknowledge financial support from the Academy of Finland and the Foundation for Economic Education. Funding Information: We thank Suomen Asiakastieto Oy and Statistics Finland for the data used in this study. We thank seminar participants at Aalto University for helpful comments and suggestions. Publisher Copyright: {\textcopyright} 2022, The Author(s).",

year = "2022",

month = dec,

doi = "10.1007/s10603-022-09528-1",

language = "English",

volume = "45",

pages = "655--672",

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TY - JOUR

T1 - Ability, Educational Attainment, and Household Financial Distress

AU - Luotonen, Niilo

AU - Puttonen, Vesa

AU - Rantapuska, Elias

N1 - Funding Information: Open Access funding provided by Aalto University. We gratefully acknowledge financial support from the Academy of Finland and the Foundation for Economic Education. Funding Information: We thank Suomen Asiakastieto Oy and Statistics Finland for the data used in this study. We thank seminar participants at Aalto University for helpful comments and suggestions. Publisher Copyright: © 2022, The Author(s).

PY - 2022/12

Y1 - 2022/12

N2 - Using register data on the Finnish population, we show that both ability (measured with comprehensive school GPA) and educational attainment are relevant predictors of financial distress, even after accounting for childhood family environment. Low GPA is an especially useful predictor of financial distress years later for those who attain a secondary-level education at most. Our results suggest that any societal interventions to mitigate financial distress should particularly focus on low GPA individuals, and especially those unlikely to continue their studies after completing comprehensive school.

AB - Using register data on the Finnish population, we show that both ability (measured with comprehensive school GPA) and educational attainment are relevant predictors of financial distress, even after accounting for childhood family environment. Low GPA is an especially useful predictor of financial distress years later for those who attain a secondary-level education at most. Our results suggest that any societal interventions to mitigate financial distress should particularly focus on low GPA individuals, and especially those unlikely to continue their studies after completing comprehensive school.

KW - Cognitive ability

KW - Educational attainment

KW - Financial distress

KW - Noncognitive ability

UR - https://www.scopus.com/pages/publications/85142475814

U2 - 10.1007/s10603-022-09528-1

DO - 10.1007/s10603-022-09528-1

M3 - Article

AN - SCOPUS:85142475814

SN - 0168-7034

VL - 45

SP - 655

EP - 672

JO - Journal of Consumer Policy

JF - Journal of Consumer Policy

IS - 4

ER -

Ability, Educational Attainment, and Household Financial Distress

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