IRA's and household saving revisited: some new evidence
The effectiveness of tax-favored savings accounts in raising national savings depends crucially upon the willingness of households to reduce consumption in order to finance contributions to these accounts. The debate over the tax deductibility of IRA's has centered on whether IRA contributions...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
1994
|
| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
4900 |
| Schlagworte: | |
| Zusammenfassung: | The effectiveness of tax-favored savings accounts in raising national savings depends crucially upon the willingness of households to reduce consumption in order to finance contributions to these accounts. The debate over the tax deductibility of IRA's has centered on whether IRA contributions represented new savings or reshuffled assets. We devise a test to distinguish between these two hypotheses where we compare the behavior of households which just opened an IRA account with that of households which already had an IRA account. Our test accounts for any unobservable heterogeneity across the two groups. We find evidence that supports the view that households financed their IRA contributions primarily through reductions in their stocks of other assets. Our results indicate that less than 20% of IRA contributions represented addition to national savings. |
| Beschreibung: | 16 S. |
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| indexdate | 2024-07-09T17:46:18Z |
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| language | English |
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| physical | 16 S. |
| publishDate | 1994 |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Attanasio, Orazio P. 1959- Verfasser (DE-588)129180084 aut IRA's and household saving revisited some new evidence Orazio P. Attanasio ; Thomas C. DeLeire Cambridge, Mass. 1994 16 S. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 4900 The effectiveness of tax-favored savings accounts in raising national savings depends crucially upon the willingness of households to reduce consumption in order to finance contributions to these accounts. The debate over the tax deductibility of IRA's has centered on whether IRA contributions represented new savings or reshuffled assets. We devise a test to distinguish between these two hypotheses where we compare the behavior of households which just opened an IRA account with that of households which already had an IRA account. Our test accounts for any unobservable heterogeneity across the two groups. We find evidence that supports the view that households financed their IRA contributions primarily through reductions in their stocks of other assets. Our results indicate that less than 20% of IRA contributions represented addition to national savings. Individual retirement accounts United States Saving and investment United States USA DeLeire, Thomas C. Verfasser (DE-588)128651490 aut National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 4900 (DE-604)BV002801238 4900 |
| spellingShingle | Attanasio, Orazio P. 1959- DeLeire, Thomas C. IRA's and household saving revisited some new evidence National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Individual retirement accounts United States Saving and investment United States |
| title | IRA's and household saving revisited some new evidence |
| title_auth | IRA's and household saving revisited some new evidence |
| title_exact_search | IRA's and household saving revisited some new evidence |
| title_full | IRA's and household saving revisited some new evidence Orazio P. Attanasio ; Thomas C. DeLeire |
| title_fullStr | IRA's and household saving revisited some new evidence Orazio P. Attanasio ; Thomas C. DeLeire |
| title_full_unstemmed | IRA's and household saving revisited some new evidence Orazio P. Attanasio ; Thomas C. DeLeire |
| title_short | IRA's and household saving revisited |
| title_sort | ira s and household saving revisited some new evidence |
| title_sub | some new evidence |
| topic | Individual retirement accounts United States Saving and investment United States |
| topic_facet | Individual retirement accounts United States Saving and investment United States USA |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT attanasiooraziop irasandhouseholdsavingrevisitedsomenewevidence AT deleirethomasc irasandhouseholdsavingrevisitedsomenewevidence |