Research and Analysis by John L. Murphy

African Americans: Description of Social Security and Supplemental Security Income Participation and Benefit Levels Using the American Community Survey
Research and Statistics Note No. 2014-01 (released January 2014)
by Patricia P. Martin and John L. Murphy

The authors use American Community Survey (ACS) data to compare Social Security and Supplemental Security Income program participation and benefit levels of African Americans with those of the general population. The ACS data show that African Americans are more likely to be Supplemental Security Income recipients, and less likely to be Social Security beneficiaries. Higher rates of poverty, disability, and mortality among African Americans mean that they are also more likely to rely on Social Security survivor and disability benefits than are other beneficiaries.

Financial Literacy Among American Indians and Alaska Natives
Research and Statistics Note No. 2014-04 (released August 2014)
by John L. Murphy, Alicia Gourd, and Faith Begay

This study uses data from the Health and Retirement Study (HRS) to analyze financial literacy within the American Indian and Alaska Native (AIAN) population. The HRS is a nationally representative longitudinal survey of individuals aged 50 or older and their spouses. The study compares AIAN financial literacy scores from an 18-question financial literacy module with those from other racial groups, all of whom score higher than the AIAN sample.

Psychosocial Factors and Financial Literacy
from Social Security Bulletin, Vol. 73 No. 1 (released February 2013)
by John L. Murphy

This article explores how psychosocial variables relate to financial literacy. Although prior research has examined mainstay economic variables, this study examines whether previously unexplored variables—financial satisfaction, hopelessness, and religiosity—impact financial literacy. The study uses Health and Retirement Study data and finds that financial satisfaction and religiosity are associated with financial literacy.