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The Potential for Savings Accounts to Protect Young-Adult Households from Unsecured Debt in Periods of Macroeconomic Stability and Decline
dc.contributor.author | Friedline, Terri L. | |
dc.contributor.author | Freeman, Allison | |
dc.date.accessioned | 2017-11-09T20:38:27Z | |
dc.date.available | 2017-11-09T20:38:27Z | |
dc.date.issued | 2016-03 | |
dc.identifier.citation | Terri 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.uri | http://hdl.handle.net/1808/25314 | |
dc.description.abstract | The 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.publisher | University of Chicago Press | en_US |
dc.rights | © 2016 by The University of Chicago | en_US |
dc.subject | Household | en_US |
dc.subject | Survey of Income and Program Participation (SIPP) | en_US |
dc.subject | Young adults | en_US |
dc.title | The Potential for Savings Accounts to Protect Young-Adult Households from Unsecured Debt in Periods of Macroeconomic Stability and Decline | en_US |
dc.type | Article | en_US |
kusw.kuauthor | Friedline, Terri | |
kusw.kudepartment | Social Welfare | en_US |
dc.identifier.doi | 10.1086/685791 | en_US |
kusw.oaversion | Scholarly/refereed, publisher version | en_US |
kusw.oapolicy | This item meets KU Open Access policy criteria. | en_US |
dc.rights.accessrights | openAccess |