It’s no surprise that higher levels of education are correlated with higher levels of both wealth and income. But how are they specifically connected? And what are some other possible explanations for this connection?
In this video, William Emmons, Bryan Noeth and Ray Boshara, researchers with the St. Louis Fed’s Center for Household Financial Stability, discuss their research into the effects of education on income and wealth. They present the findings of their paper “The Role of Education,” which is part of their “Demographics of Wealth” series.
Additional blog posts covering specific findings from the paper are also available: