Cindy Soo

University of Michigan,
Ross School of Business,
701 Tappan Street,
Ann Arbor MI 48109-1234

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
Institutional Affiliation: University of Michigan

NBER Working Papers and Publications

September 2018Do Neighborhoods Affect Credit Market Decisions of Low-Income Borrowers? Evidence from the Moving to Opportunity Experiment
with Sarah Miller: w25023
This paper provides new evidence on the long-term impacts of neighborhood environment on low-income credit decisions by analyzing financial outcomes and borrowing decisions of participants of the Moving to Opportunity (MTO) experiment. The MTO experiment was a unique, large-scale experiment that offered families vouchers to move to better neighborhoods via randomized lottery. Families received one of two types of housing vouchers: the first (Experimental) required families to move to very low poverty neighborhoods, and the second (Section 8) allowed families unrestricted choice of neighborhood. We find that participants who moved to lower poverty neighborhoods as young children experienced better access to and greater use of credit into adulthood, with the largest effects experienced by th...
October 2010Financial Literacy, Schooling, and Wealth Accumulation
with Jere R. Behrman, Olivia S. Mitchell, David Bravo: w16452
Financial literacy and schooling attainment have been linked to household wealth accumulation. Yet prior findings may be biased due to noisy measures of financial literacy and schooling, as well as unobserved factors such as ability, intelligence, and motivation that could enhance financial literacy and schooling but also directly affect wealth accumulation. We use a new household dataset and an instrumental variables approach to isolate the causal effects of financial literacy and schooling on wealth accumulation. While financial literacy and schooling attainment are both strongly positively associated with wealth outcomes in linear regression models, our approach reveals even stronger and larger effects of financial literacy on wealth. Estimated impacts are substantial enough to suggest ...

Published: Behrman, Jere, Olivia S. Mitchell, Cindy Soo, and David Bravo. (2012). “Financial Literacy, Schooling, and Wealth Accumulation.” American Economic Review P&P. 102(3): 300–304.

NBER Videos

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email:

Contact Us