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Credit scores, cardiovascular disease risk, and human capital

Publication ,  Journal Article
Israel, S; Caspi, A; Belsky, DW; Harrington, H; Hogan, S; Houts, R; Ramrakha, S; Sanders, S; Poulton, R; Moffitt, TE
Published in: Proceedings of the National Academy of Sciences
November 2014

Credit scores are the most widely used instruments to assess whether or not a person is a financial risk. Credit scoring has been so successful that it has expanded beyond lending and into our everyday lives, even to inform how insurers evaluate our health. The pervasive application of credit scoring has outpaced knowledge about why credit scores are such useful indicators of individual behavior. Here we test if the same factors that lead to poor credit scores also lead to poor health. Following the Dunedin (New Zealand) Longitudinal Study cohort of 1,037 study members, we examined the association between credit scores and cardiovascular disease risk and the underlying factors that account for this association. We find that credit scores are negatively correlated with cardiovascular disease risk. Variation in household income was not sufficient to account for this association. Rather, individual differences in human capital factors—educational attainment, cognitive ability, and self-control—predicted both credit scores and cardiovascular disease risk and accounted for ∼45% of the correlation between credit scores and cardiovascular disease risk. Tracing human capital factors back to their childhood antecedents revealed that the characteristic attitudes, behaviors, and competencies children develop in their first decade of life account for a significant portion (∼22%) of the link between credit scores and cardiovascular disease risk at midlife. We discuss the implications of these findings for policy debates about data privacy, financial literacy, and early childhood interventions.

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Published In

Proceedings of the National Academy of Sciences

DOI

Publication Date

November 2014

Start / End Page

201409794 / 201409794

Related Subject Headings

  • Young Adult
  • Self Concept
  • Risk Factors
  • Risk Assessment
  • New Zealand
  • Male
  • Longitudinal Studies
  • Linear Models
  • Income
  • Humans
 

Citation

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Chicago
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Israel, S., Caspi, A., Belsky, D. W., Harrington, H., Hogan, S., Houts, R., … Moffitt, T. E. (2014). Credit scores, cardiovascular disease risk, and human capital. Proceedings of the National Academy of Sciences, 201409794–201409794. https://doi.org/10.1073/pnas.1409794111
Israel, Salomon, Avshalom Caspi, Daniel W. Belsky, HonaLee Harrington, Sean Hogan, Renate Houts, Sandhya Ramrakha, Seth Sanders, Richie Poulton, and Terrie E. Moffitt. “Credit scores, cardiovascular disease risk, and human capital.” Proceedings of the National Academy of Sciences, November 2014, 201409794–201409794. https://doi.org/10.1073/pnas.1409794111.
Israel S, Caspi A, Belsky DW, Harrington H, Hogan S, Houts R, et al. Credit scores, cardiovascular disease risk, and human capital. Proceedings of the National Academy of Sciences. 2014 Nov;201409794–201409794.
Israel, Salomon, et al. “Credit scores, cardiovascular disease risk, and human capital.” Proceedings of the National Academy of Sciences, Nov. 2014, pp. 201409794–201409794. Manual, doi:10.1073/pnas.1409794111.
Israel S, Caspi A, Belsky DW, Harrington H, Hogan S, Houts R, Ramrakha S, Sanders S, Poulton R, Moffitt TE. Credit scores, cardiovascular disease risk, and human capital. Proceedings of the National Academy of Sciences. 2014 Nov;201409794–201409794.

Published In

Proceedings of the National Academy of Sciences

DOI

Publication Date

November 2014

Start / End Page

201409794 / 201409794

Related Subject Headings

  • Young Adult
  • Self Concept
  • Risk Factors
  • Risk Assessment
  • New Zealand
  • Male
  • Longitudinal Studies
  • Linear Models
  • Income
  • Humans