Abstract
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.
Funder
Academy of Finland
Foundation for Economic Education
Aalto University
Publisher
Springer Science and Business Media LLC
Subject
Economics and Econometrics,Business, Management and Accounting (miscellaneous)
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