Factors affecting completion of a matched savings program: Impacts of time preference, discount rate, and financial hardship

Journal of Socio-Economics

Volumn 41, Issue 6, 2012, Pages 836-842

  Manturuk, Kim ^a   Dorrance, Jessica ^a   Riley, Sarah ^a  

^a UNC Center for Community Capital   (United States)

Author keywords

Discount rate; Savings; Survival analysis; Tax refund; Time preference

Indexed keywords

EID: 84871717910     PISSN: 10535357     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.socec.2012.08.006     Document Type: Article

References (23)

1. Agnew, J., Szykman, L., 2004. Asset Allocation and Information Overload: The Influence of Information Display, Asset Choice and Investor Experience. Center for Retirement Research at Boston College Working Paper 2004-15.
2. Bernheim D. Financial illiteracy, education and retirement saving. Living with Defined Contribution Pensions 2004, 38-68. University of Pennsylvania Press, Philadelphia, PA. O. Mitchell, S. Schieber (Eds.).
3. Bertrand M., Mullainathan S., Shafir E. A behavioral-economics view of poverty. The American Economic Review 2004, 94:419-423.
4. Beverly S., Sherraden M. Institutional determinants of saving: implications for low-income households and public policy. Journal of Socio-Economics 1999, 28:457-473.
5. Collins M. Effects of mandatory financial education on low-income clients. Focus 2010, 27:13-17.
6. Duflo E., Gale W., Liebman J., Orszag P., Saez E. Saving incentives for low- and middle-income families: evidence from a field experiment from H&R Block. Quarterly Journal of Economics 2006, 121:1311-1346.
7. Frederick S., Loewenstein G., O'Donoghue T. Time discounting and time preference: a critical review. Journal of Economic Literature 2002, 40:351-401.
8. Guo, B., Sherraden, M., Johnson, L., 2009. Seed Deposit, Match Cap, and Net Savings Patterns: An Assessment of Institutional Incentives in the 'I Can Save' Program. Center for Social Development Working Paper #09-13.
9. Hershey D., Mowen J. Psychological determinants of financial preparedness for retirement. The Gerontologist 2000, 40:687-697.
10. Hogarth, J., Hazembuller, A., Wilson, M., 2006. How Much Can the Poor Save? CFED/Federal Reserve System Closing the Wealth Gap Policy Research Forum.
11. Jacobs-Lawson J., Hershey D. Influence of future time perspective, financial knowledge, and financial risk tolerance in retirement saving behaviors. Financial Services Review 2005, 14:331-344.
12. Klawitter M., Anderson C., Gugerty M. Savings and personal discount rates in a matched savings program for low income families. Association of Public Policy Analysis and Management Fall Research Conference 2010.
13. Lusardi, A., Mitchell, O., 2009. How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness. NBER Working Paper #15350.
14. Mullainathan S., Shafir E. Savings policy and decision-making in low-income households. Insufficient Funds: Savings, Assets, Credit and Banking among Low-Income Households 2009, 121-145. Russell Sage Foundation, New York. M. Barr, R. Blank (Eds.).
15. Page-Adams D., Shobe M., Assets M. Future orientation, and well-being: exploring and extending Sherraden's framework. Journal of Sociology and Social Welfare 2001, 28:109-128.
16. Sawady, E., Tescher, J., 2008. Financial Decision Making Process of Low-Income Individuals. Joint Center for Housing Studies Working Paper UCC08-2.
17. Schreiner M., Sherraden M., Clancy M., Johnson L., Curley J., Zhan M., Beverly S., Grinstein-Weiss M. Assets and the poor: evidence from individual development accounts. Inclusion in the American Dream: Assets, Poverty, and Public Policy 2005, 185-215. Oxford University Press, New York. M. Morris (Ed.).
18. Sherraden M. Assets and the Poor: A New American Welfare Policy 1991, M.E. Sharpe, Armonk, New York.
19. Sherraden, M., 2010. Financial Capability: What is it, and How Can it be Created? Center for Social Development Working Paper #10-17.
20. Sherraden M., Schreiner M., Beverly S. Income, institutions, and saving performance in individual development accounts. Economic Development Quarterly 2003, 17:95-112.
21. Smeeding T., Phillips K., O'Connor M. The EITC: expectation, knowledge, use, and economic and social mobility. National Tax Journal 2000, 4:1187-1209.
22. Tufano, P., Schneider, D., Beverly, S., 2005. Leveraging Tax Refunds to Encourage Saving. The Pew Charitable Trusts Retirement Security Project Working Paper 2005-8.
23. Turnham J. Attitudes to Savings and Financial Education among Low-income Populations: Findings from the Financial Literacy Focus Groups 2010, Center for Financial Security Working Paper 10-7.