Jay L. Zagorsky

Marriage and divorce’s impact on wealth:

What impact do marriage and divorce have on wealth? US data from the National Longitudinal Survey of Youth (NLSY79), which tracks individuals in their 20s, 30s and early 40s, show that over time single respondents slowly increase their net worth. Married respondents experience per person net worth increases of 77 percent over single respondents. Additionally, their wealth increases on average 16 percent for each year of marriage. Divorced respondents’ wealth starts falling four years before divorce and they experience an average wealth drop of 77 percent. While in percentage terms divorce hurts women more than men, the absolute difference is relatively small in the US.

Husbands’ and wives’ view of the family finances

Abstract Do husbands and wives have the same view of the family’s financial situation? This research shows that when couples are asked separately about finances, very different views emerge of income and wealth. Quantifying the gap between husbands’ and wives’ financial statements shows half of all couples provide family income values that differ by more than 10% and net worth values that differ by more than 30%. The typical husband states the family receives more income each year and holds more gross assets than his wife states. The typical wife reports the family owes more debts than her husband.

Is Obesity as Dangerous to Your Wealth as to Your Health

Obesity is a growing public health issue, with a rising number of adults classified as overweight. Although medical research shows being overweight is dangerous to one’s health, this research, which investigates young, U.S. baby boomers from 1985 to 2000, finds it is also dangerous to one’s wealth. The net worth of the obese is roughly half that of those with normal body mass. As young baby boomers age, peak net worth slowly shifts toward those with lower mass. Boomers with a body mass index (BMI) of 22 in 1985 held the most net worth, but by 2000 the peak shifted to those with a BMI of 17. From 1985 to 2000, for every one-point BMI increase, net worth on average fell

The wealth effects of smoking

1,000, holding other factors like income constant. Surprisingly, part of the reason BMI is inversely related to networth is because lighter people receive more inheritances than heavier individuals.

The association between socioeconomic status and adult fast-food consumption in the U.S

Objective: To investigate the impact of smoking on the wealth of US young baby boomers. Methodology: The research analyses self reported responses of both smoking habits and wealth holdings from a nationally representative sample of US individuals born between 1957 to 1964 (n  =  8908). Data are from four waves (1984, 1992, 1994, 1998) of the National Longitudinal Survey of Youth 1979 cohort, a random survey of individuals conducted by the US Department of Labor using a stratified multistage area sample design. Results: Regression results show lower net worth is associated with smoking, after holding constant a variety of demographic factors. Respondents who were ever heavy smokers are associated with a reduction in net worth of over

Was depression era unemployment really less in Canada than the U.S.

8300 while light smokers are

Understanding the economic factors affecting help-wanted advertising

2000 poorer compared to non-smokers. Beyond this reduction, each adult year of smoking is associated with a decrease in net worth of

Why are Canadian and US Unemployment Rates So Highly Correlated

410 or almost 4%. Conclusions: While a causal relation cannot be proven, smokers appear to pay for tobacco expenditures out of income that is saved by non-smokers. Hence, reductions in smoking will boost wealth, especially among the poor.

“Do I look fat?” Self-perceived body weight and labor market outcomes

HighlightsFast‐food consumption among adults varies little across SES, measured as income and wealth.Descriptive analyses indicate a weak, inverted U‐shaped association between fast‐food and SES.Checking nutrition labels frequently and drinking less soda predict less adult fast‐food intake.More work hours predict greater fast‐food intake. ABSTRACT Health follows a socioeconomic status (SES) gradient in developed countries, with disease prevalence falling as SES rises. This pattern is partially attributed to differences in nutritional intake, with the poor eating the least healthy diets. This paper examines whether there is an SES gradient in one specific aspect of nutrition: fast‐food consumption. Fast food is generally high in calories and low in nutrients. We use data from the 2008, 2010, and 2012 waves of the National Longitudinal Survey of Youth (NLSY79) to test whether adult fast‐food consumption in the United States falls as monetary resources rise (n = 8136). This research uses more recent data than previous fast‐food studies and includes a comprehensive measure of wealth in addition to income to measure SES. We find little evidence of a gradient in adult fast‐food consumption with respect to wealth. While adults in the highest quintile are 54.5% less likely to report fast‐food consumption than those in the lowest quintile, adults in the second and third quintiles are no less likely to report fast food–food intake than the poorest. Contrary to popular belief, fast‐food consumption rises as income rises from the lowest to middle quintiles. The variation in adult fast‐food consumption across income and wealth groups is, however, small. Those in the wealthiest quintile ate about one less fast‐food meal on average than those in the lowest quintile. Other factors play a bigger role in explaining fast‐food consumption: reading ingredient labels is negatively associated while soda consumption and hours of work are positively associated with fast‐food consumption.

How Families Really Manage Their Wealth

Abstract Comparing official U.S. and Canadian unemployment rates shows Canadas rate was 5% lower during the Depression. This is puzzling since other macro data do not show superior Canadian performance. Classifying relief workers consistently results in unemployment rates, solving the puzzle.