How retirement saving programs increase saving

Article Abstract:

Contributions to saving programs such as Individual Retirement Accounts (IRAs) and the 401(k) plan, introduced in the 1980s, are part of new savings instead of being substitutes of other methods of asset saving. A within-group and between-group survey on household saving reveals that an increase in IRA and 401(k) savings rarely affects other assets. Between 1984 and 1991, the assets of families with an IRA but without a 401(k) increased from $20,686 to $27,094. In families eligible for a 401(k), total financial assets increased from $37,882 to $444,432.

Evaluation, Personal finance, Reports, Surveys, Individual retirement accounts, Salary reduction savings plans, 401K plans, Household surveys

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In honor of Lawrence H. Summers, winner of the John Bates Clark Medal

Article Abstract:

A study of the summary of Lawrence Summers' key research contributions provides insight on the valuable contribution he has made in the field of economics. Description of the four aspects of economics mentioned in the Clark medal citation, public finance, labor economics, financial economics and macroeconomics reveals his pioneering efforts in the discipline.

Achievements and awards, Criticism and interpretation, Economists, Summers, Lawrence H.

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Stock market wealth and consumption

Article Abstract:

The impact of stock market wealth on household behaviour, particularly consumption, is considered. Issues associated with the growth in stock market wealth include the potential asymmetry in how wealth changes influence consumer spending.

Research, Economic aspects, Stock-exchange, Stock exchanges, Consumption (Economics)

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