Gateway to Think Tanks
来源类型 | Research Report |
规范类型 | 报告 |
Building Savings for Success | |
其他题名 | Early Impacts from the Assets for Independence Program Randomized Evaluation |
Gregory B. Mills; Signe-Mary McKernan; Caroline Ratcliffe; Sara Edelstein; Mike Pergamit; Breno Braga; Heather Hahn; Sam Elkin | |
发表日期 | 2016-12-09 |
出版年 | 2016 |
语种 | 英语 |
概述 | Individual development accounts (IDAs) help low-income families save by matching their personal savings for specific investments, such as a first home, business capitalization, or higher education and training. The Assets for Independence (AFI) program is a federally supported IDA grant program authorized under the Assets for Independence Act of 1998. Our evaluation at two sites—Albuquerque and Los Angeles—shows |
摘要 | Individual development accounts (IDAs) help low-income families save by matching their personal savings for specific investments, such as a first home, business capitalization, or higher education and training. The Assets for Independence (AFI) program is a federally supported IDA grant program authorized under the Assets for Independence Act of 1998. Our evaluation at two sites—Albuquerque and Los Angeles—shows that AFI is increasing low-income participants’ savings one year into the program. This is the first evaluation of the AFI program to use a randomized controlled trial, the gold standard for measuring program effectiveness. We assess the program’s early (first-year) effects on participants’ savings, asset ownership, and economic well-being. Results show two beneficial primary effects:
We also find evidence that AFI affects several secondary outcomes:
These major first-year impact findings—that AFI participation results in more savings, less material hardship, and improved perceptions of one’s financial situation—provide empirical evidence that AFI promotes economic well-being. While the vast majority of federal asset-building subsidies (such as the mortgage interest deduction) disproportionately benefit high-income earners, the AFI program is one of few federal efforts that actively encourages saving among low-income families. By encouraging low-income families to save, AFI can improve their short-term stability while providing a foundation for longer-term upward mobility. Online Appendix Means of Outcome Variables by Group and Site |
主题 | Income and Wealth ; Families ; Poverty, Vulnerability, and the Safety Net |
URL | https://www.urban.org/research/publication/building-savings-success |
来源智库 | Urban Institute (United States) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/479492 |
推荐引用方式 GB/T 7714 | Gregory B. Mills,Signe-Mary McKernan,Caroline Ratcliffe,et al. Building Savings for Success. 2016. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
2016_12_6_afi_final_(1847KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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