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Does money in adulthood affect adult outcomes?
Kerris Cooper and Kitty Stewart
December 2015
Paper No' CASEreport 096:
Full Paper (pdf) | Summary (pdf)

JEL Classification: I30; I31;I32

Tags: money; poverty; health; adult; wellbeing

There is ample evidence that adults with lower incomes tend to have worse outcomes including worse health, lower life expectancy and lower subjective wellbeing than individuals with more. But is money in adulthood itself important? Or are these relationships driven by other factors such as higher levels of education, underlying personality traits or the long-term impact of childhood circumstances? This study reviews the evidence, focusing on research that tested whether the relationship between money and outcomes in adulthood is causal.