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dc.contributor.authorFriedline, Terri L.
dc.contributor.authorFreeman, Allison
dc.date.accessioned2017-11-09T20:38:27Z
dc.date.available2017-11-09T20:38:27Z
dc.date.issued2016-03
dc.identifier.citationTerri Friedline and Allison Freeman, "The Potential for Savings Accounts to Protect Young-Adult Households from Unsecured Debt in Periods of Macroeconomic Stability and Decline," Social Service Review 90, no. 1 (March 2016): 83-129.en_US
dc.identifier.urihttp://hdl.handle.net/1808/25314
dc.description.abstractThe effects of different types of debt can vary widely: some debt is considered productive by advancing financial health, while other debt can be unproductive, pushing financial health out of reach. A savings account may be associated with young-adult households’ reduced reliance on unproductive debt and their increased access to productive debt that can facilitate wealth building. This article tests the association between a savings account and debt in the lives of American young adults during periods of macroeconomic stability and decline. Owning a savings account in 1996 was associated with a 14 percent decrease (844) in young − adult households′ accumulated unsecured debt, while closing an accounting 2008 was associated with a 12 percent increase (1,320) in this type of debt. Thus, a savings account may help young adults invest in their debt by entering better, healthier credit markets and protecting them from riskier ones, especially during bad economic times.en_US
dc.publisherUniversity of Chicago Pressen_US
dc.rights© 2016 by The University of Chicagoen_US
dc.subjectHouseholden_US
dc.subjectSurvey of Income and Program Participation (SIPP)en_US
dc.subjectYoung adultsen_US
dc.titleThe Potential for Savings Accounts to Protect Young-Adult Households from Unsecured Debt in Periods of Macroeconomic Stability and Declineen_US
dc.typeArticleen_US
kusw.kuauthorFriedline, Terri
kusw.kudepartmentSocial Welfareen_US
dc.identifier.doi10.1086/685791en_US
kusw.oaversionScholarly/refereed, publisher versionen_US
kusw.oapolicyThis item meets KU Open Access policy criteria.en_US
dc.rights.accessrightsopenAccess


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