Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Assets (11)
- Savings (10)
- Child development account (8)
- Policy (8)
- Saving (8)
-
- Asset building (7)
- CDA (7)
- Refund to Savings (RS) (7)
- Household Financial Survey (HFS) (6)
- Debt (5)
- Inclusion (5)
- Social policy (5)
- United States (5)
- Asset holding (4)
- Asset ownership (4)
- Children (4)
- Earned Income Tax Credit (EITC) (4)
- Economic resources (4)
- Financial capability (4)
- Financial education (4)
- Material hardship (4)
- Tax credit (4)
- TurboTax Freedom Edition (4)
- Well-being (4)
- Child development (3)
- College debt (3)
- Credit (3)
- Housing (3)
- Inclusive policy (3)
- Individual development account (3)
Articles 1 - 21 of 21
Full-Text Articles in Social Work
Home Delinquency Rates Are Lower Among Aca Marketplace Households: Evidence From A Natural Experiment, Emily A. Gallagher, Radhakrishnan Gopalon, Michal Grinstein-Weiss, Stephen P. Roll, Genevieve Davison
Home Delinquency Rates Are Lower Among Aca Marketplace Households: Evidence From A Natural Experiment, Emily A. Gallagher, Radhakrishnan Gopalon, Michal Grinstein-Weiss, Stephen P. Roll, Genevieve Davison
Center for Social Development Research
This brief uses administrative income tax data coupled with survey responses from roughly 5,000 households living near the poverty line to estimate how access to the Affordable Care Act’s health insurance Marketplaces have affected households’ experiences of extreme illiquidity, which is measured by delinquencies on home payments. To estimate this relationship, we exploit a natural experiment underway in states that did not expand Medicaid and created by the eligibility rules for Marketplace subsidies. Results suggest that insured households living near the poverty line are better able to make timely rent and mortgage payments compared with similar, uninsured households. Given housing …
International Child Development Accounts, Michael Sherraden, Li-Chen Cheng, Fred M. Ssewamala, Youngmi Kim, Vernon Loke, Li Zou, Gina Chowa, David Ansong, Lissa Johnson, Yung Soo Lee, Michal Grinstein-Weiss, Margaret M. Clancy, Jin Huang, Sondra G. Beverly, Yunju Nam, Chang-Keun Han
International Child Development Accounts, Michael Sherraden, Li-Chen Cheng, Fred M. Ssewamala, Youngmi Kim, Vernon Loke, Li Zou, Gina Chowa, David Ansong, Lissa Johnson, Yung Soo Lee, Michal Grinstein-Weiss, Margaret M. Clancy, Jin Huang, Sondra G. Beverly, Yunju Nam, Chang-Keun Han
Center for Social Development Research
This Working Paper has been submitted for inclusion in the new online edition of theEncyclopedia of Social Work, which is published by Oxford University Press. The paper discusses efforts to implement Child Development Accounts in the United States and numerous other countries. Child Development Accounts (CDAs) are subsidized savings or investment accounts to help people accumulate assets for developmental purposes and life course needs. They are envisioned as universal (everyone participates), progressive (greater subsidies for the poor), and potentially lifelong national policy. These features distinguish CDAs from most existing asset-building policies and programs around the world, which are typically regressive, …
Asset Building: Toward Inclusive Policy, Michael Sherraden, Lissa Johnson, Margaret Clancy, Sondra G. Beverly, Margaret S. Sherraden, Mark Schreiner, William Elliott Iii, Trina Shanks William, Deborah Adams, Jami C. Curley, Jin Huang, Michal Grinstein-Weiss, Yunju Nam, Min Zhan, Chang-Kuen Han
Asset Building: Toward Inclusive Policy, Michael Sherraden, Lissa Johnson, Margaret Clancy, Sondra G. Beverly, Margaret S. Sherraden, Mark Schreiner, William Elliott Iii, Trina Shanks William, Deborah Adams, Jami C. Curley, Jin Huang, Michal Grinstein-Weiss, Yunju Nam, Min Zhan, Chang-Kuen Han
Center for Social Development Research
This Working Paper has been submitted for inclusion in theEncyclopedia of Social Work's new online edition, which is published by Oxford University Press. Since 1991, a new policy discussion has arisen in the United States and other countries, focusing on building assets as a complement to traditional social policy based on income. In fact, asset-based policy already existed (and still exists) in the United States, with large public subsidies. But the policy is regressive, benefiting the rich far more than the poor. The goal should be a universal, progressive, and lifelong asset-based policy. One promising pathway may be Child Development …
Financial Anxiety In Low- And Moderate-Income Households: Findings From The Household Financial Survey, Stephen P. Roll, Samuel H. Taylor, Michal Grinstein-Weiss
Financial Anxiety In Low- And Moderate-Income Households: Findings From The Household Financial Survey, Stephen P. Roll, Samuel H. Taylor, Michal Grinstein-Weiss
Center for Social Development Research
Despite significant gains in the U.S. economy following the Great Recession, finances remain a common source of stress for many American households. In 2016, 52% of U.S. workers reported that their financial position made them stressed, and research reveals that stress and anxiety associated with finances are particularly common among low-income Americans. In this brief, we explore the topic of financial anxiety, particularly its relationship to demographic and financial characteristics, measures of hardship, and financial behaviors. We find that financial anxiety is strongly linked to the overall levels of debt and assets held by low-income households, as well as their …
From Mass Incarceration To Effective And Sustainable Decarceration: Conference Report, Carrie Pettus-Davis, Matthew W. Epperson
From Mass Incarceration To Effective And Sustainable Decarceration: Conference Report, Carrie Pettus-Davis, Matthew W. Epperson
Center for Social Development Research
All signs indicate that the United States is leaving an era of mass incarceration and is on the cusp of an era of decarceration. However, the challenge of decarceration is far greater than simply reducing the use of incarceration; it involves building an array of policy and practice innovations that replace incarceration. We have a unique opportunity to rethink, redefine, and reimagine the criminal justice system and shape the emerging decarceration movement. The challenge of decarceration is far greater than simply reducing the use of incarceration; it involves building an array of policy and practice innovations that replace incarceration. To …
Leveraging Tax Time To Build Financial Capability: Research Evidence And Policy Directions, Meredith Covington, Jane E. Oliphant, Michal Grinstein-Weiss
Leveraging Tax Time To Build Financial Capability: Research Evidence And Policy Directions, Meredith Covington, Jane E. Oliphant, Michal Grinstein-Weiss
Center for Social Development Research
Over the past decade, a variety of initiatives have been implemented in the United States to facilitate saving and build financial security at tax time, including national experiments, pilot programs, and federal and state policies. Much progress has been made in encouraging tax filers, especially low- to moderate-income (LMI) tax filers, to save a portion of their refund. To expand upon the “golden moment” of saving at tax time, policymakers, practitioners, and researchers must now seek ways in which the lump sum of saving at tax time can serve to render tax filers capable of confidently managing their financial lives. …
The Role Of Health Insurance In The Financial Lives Of Low- And Moderate-Income Households, Mathieu R. Despard, Dana C. Perantie, Jane E. Oliphant, Stephen P. Roll, Michal Grinstein-Weiss
The Role Of Health Insurance In The Financial Lives Of Low- And Moderate-Income Households, Mathieu R. Despard, Dana C. Perantie, Jane E. Oliphant, Stephen P. Roll, Michal Grinstein-Weiss
Center for Social Development Research
Health insurance is an important resource for enabling access to and use of medical care, and is associated with reduced risk for mortality and poor health outcomes. Health insurance also protects households from incurring major medical expenses and unmanageable levels of medical debt. About a quarter of a sample of low- and moderate-income (LMI) tax filers have no health insurance, compared to 10% of all individuals in the United States. As of 2014, the proportion of filers without insurance was 11 percentage points higher in states that had not expanded Medicaid through the Affordable Care Act (ACA) than it was …
Financial Inclusion In China: Use Of Credit, Zibei Chen, Minchao Jin
Financial Inclusion In China: Use Of Credit, Zibei Chen, Minchao Jin
Center for Social Development Research
Limited access to credit can cause financial vulnerability for a household and economic loss for a country. Previous studies have shown that only small portions of populations in developing countries use formal credit, but few studies have focused on Chinese populations. Analyzing data from the 2011 China Household Financial Survey, this study explored Chinese households’ credit use. Over half of the sample (53.21%) reported using credit, and only 19.77% of the sample used formal credit. Use of formal credit was associated with the socioeconomic characteristics of household heads (e.g., employment and education) and of households (e.g., income and net worth). …
Financial Outcomes In Seed For Oklahoma Kids, Margaret M. Clancy, Sondra G. Beverly, Michael Sherraden
Financial Outcomes In Seed For Oklahoma Kids, Margaret M. Clancy, Sondra G. Beverly, Michael Sherraden
Center for Social Development Research
The SEED for Oklahoma Kids (SEED OK) experiment is a large-scale policy test of universal, automatic, and progressive Child Development Accounts (CDAs). This fact sheet highlights selected SEED OK financial outcomes measured between 2007 and 2014. Because of SEED OK’s automatic account opening and initial deposits, the CDA has especially large impacts on OK 529 savings among disadvantaged children. Advantaged children are more likely than disadvantaged children to have individual savings in OK 529 accounts, and average individual savings are higher for advantaged children. But, the CDA increases the likelihood that disadvantaged children have OK 529 accounts opened by their …
Tax Abatement In Saint Louis: Reforms Could Foster Equitable Development, Claire Dewind, Jennifer Dickey, Ellen O'Neill, Molly W. Metzger
Tax Abatement In Saint Louis: Reforms Could Foster Equitable Development, Claire Dewind, Jennifer Dickey, Ellen O'Neill, Molly W. Metzger
Center for Social Development Research
Across the United States, municipal governments use tax abatement in various ways to incentivize development and revitalize urban areas. In Saint Louis, historical housing trends related to deindustrialization, redlining, and “white flight” led to the City’s depopulation, creating the current need to incentivize development. However, in certain neighborhoods, development now occurs without tax abatement, and some homeowners and developers receive tax abatement despite being able to afford paying taxes. This points to a need to understand where and when tax abatement is necessary, and whether it is being used effectively. In this brief, we ask the following questions: (1) Does …
Nudging Youth To Develop Savings Habits: Experimental Evidence Using Sms Messages, Katherine Rodríguez, Juan E. Saavedra
Nudging Youth To Develop Savings Habits: Experimental Evidence Using Sms Messages, Katherine Rodríguez, Juan E. Saavedra
Center for Social Development Research
In this working paper, we report on a field experiment articulating financial information via cellphone text messages and financial decisions among low-income youth in Colombia. For twelve months, youth accountholders are randomly assigned to receive either: (a) monthly financial education messages, (b) monthly savings reminders, (c) semimonthly reminders, or (d) control. After 12 months, account balances in monthly and semimonthly reminders groups increase by 28% and 43%, respectively, relative to controls. Financial education messages do not increase balances. Over two thirds of balance increases in reminder groups are net savings. Savings effects of reminders last eight months after youth stop …
Racial Disparities In Student Debt: Evidence From The Refund To Savings Initiative, Samuel H. Taylor, Dana C. Perantie, Nava Kantor, Michal Grinstein-Weiss, Shenyang Guo, Ramesh Raghavan
Racial Disparities In Student Debt: Evidence From The Refund To Savings Initiative, Samuel H. Taylor, Dana C. Perantie, Nava Kantor, Michal Grinstein-Weiss, Shenyang Guo, Ramesh Raghavan
Center for Social Development Research
This brief provides evidence that low- and moderate-income (LMI) Black households accumulate significantly more debt in pursuit of a higher education than do LMI White students, even after using rigorous methods to account for race- and debt-related confounders. Using data from the Refund to Savings experiment, the authors find that LMI Black households accrued $7,721 more in student loan debt than their White counterparts did. This finding is crucial in light of the financial vulnerability of this population both before and after college. That vulnerability potentially contributes to diminished returns and exacerbates racial disparities in educational outcomes and wealth accumulation. …
The Burden Of Student Debt: Findings From A Survey Of Low- And Moderate-Income Households, Mathieu R. Despard, Samuel H. Taylor, Dana C. Perantie, Michal Grinstein-Weiss
The Burden Of Student Debt: Findings From A Survey Of Low- And Moderate-Income Households, Mathieu R. Despard, Samuel H. Taylor, Dana C. Perantie, Michal Grinstein-Weiss
Center for Social Development Research
Completing a college degree continues to offer a pathway for enjoying greater earnings. Yet tuition has risen sharply and state higher-education funding has declined in recent years, shifting the burden of paying for college to students and their families. As a result, most students (70%) depend on loans to help pay for college and student debt is now greater than credit card debt in the United States. Student debt is increasingly difficult to manage, as debt-to-income ratios, loan default rates, and delinquency rates are on the rise. This brief utilizes data from the 2014 Refund to Savings study to examine …
A Savings Account For Every Child Born In Israel: Recommendations For Program Implementation, Michal Grinstein-Weiss, Meredith Covington, Margaret M. Clancy, Michael Sherraden
A Savings Account For Every Child Born In Israel: Recommendations For Program Implementation, Michal Grinstein-Weiss, Meredith Covington, Margaret M. Clancy, Michael Sherraden
Center for Social Development Research
In November 2015, Israel enacted legislation to create and fund a Child Development Account program. Beginning in 2017, every baby born to an insured Israeli resident will receive a Child Development Account in his or her name. This brief details the policy, which was developed in collaboration with researchers at the Center for Social Development, and offers recommendations to guide its implementation.
Frequently Asked Questions About The Features Of Child Development Accounts In Israel, Michal Grinstein-Weiss, Meredith Covington, Megan Brewster, Jane E. Oliphant
Frequently Asked Questions About The Features Of Child Development Accounts In Israel, Michal Grinstein-Weiss, Meredith Covington, Megan Brewster, Jane E. Oliphant
Center for Social Development Research
In November 2015, Israel enacted legislation to create and fund a Child Development Account program. Beginning in 2017, every baby born to an insured Israeli resident will receive a Child Development Account in his or her name. This Fact Sheet provides answers to frequently asked questions about the policy, which was developed in collaboration with researchers at the Center for Social Development.
Youth Savings Patterns And Performance In Colombia, Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, David Ansong, Margaret S. Sherraden, Gina Chowa, Fred Ssewamala, Li Zou, Michael Sherraden, Moses Njenga, Joseph Kieyah, Issac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Rodriguez Orgales, Frederico Merchán, Juan Saavedra
Youth Savings Patterns And Performance In Colombia, Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, David Ansong, Margaret S. Sherraden, Gina Chowa, Fred Ssewamala, Li Zou, Michael Sherraden, Moses Njenga, Joseph Kieyah, Issac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Rodriguez Orgales, Frederico Merchán, Juan Saavedra
Center for Social Development Research
Youth Savings Patterns and Performance in Colombia, Ghana, Kenya, and Nepal
Annual Report On The Asset Project's Head Start Family Financial Capability Pilot: 2014–2015, Anne S. Robertson, Jami Curley
Annual Report On The Asset Project's Head Start Family Financial Capability Pilot: 2014–2015, Anne S. Robertson, Jami Curley
Center for Social Development Research
Since the Great Recession (December 2007–2009 in the United States), poverty has compromised many families and increased the prevalence of young children living in neighborhoods of concentrated, deep poverty. However, financial literacy interventions have reported promising outcomes for influencing financial choices and financial knowledge, highlighting the potential of such programs for improving the economic positions of families and children. This report presents results from a mixed-methods evaluation of a financial literacy intervention with Head Start families in the St. Louis metropolitan area. The intervention combines savings incentives and one-on-one coaching with 10 hours of financial education on debt management, banking, …
Characteristics And Hardships Associated With Bank Account Ownership Among Refund To Savings Participants, Michal Grinstein-Weiss, Dana C. Perantie, Jane E. Oliphant, Anna Deruyter, Mathieu R. Despard
Characteristics And Hardships Associated With Bank Account Ownership Among Refund To Savings Participants, Michal Grinstein-Weiss, Dana C. Perantie, Jane E. Oliphant, Anna Deruyter, Mathieu R. Despard
Center for Social Development Research
Having a bank account is one important way for households to securely accumulate savings, build credit, and earn interest on assets. Nationally, 7.7% of households are unbanked—lacking both a checking and a savings account. One proposed step toward financial inclusion is to encourage unbanked households to open accounts and deposit refunds into savings at tax time, when many low-income households receive the year’s largest lump sum of cash. This brief utilizes data from the 2013 Refund to Savings study to summarize differences between banked and unbanked households. The findings show that unbanked status is a marker for other financial disadvantages, …
Research Summary: Universal Accounts At Birth: Results From Seed For Oklahoma Kids, Sondra G. Beverly, Margaret M. Clancy, Michael Sherraden
Research Summary: Universal Accounts At Birth: Results From Seed For Oklahoma Kids, Sondra G. Beverly, Margaret M. Clancy, Michael Sherraden
Center for Social Development Research
This research summary consolidates the findings of several studies from the SEED for Oklahoma Kids experiment, a large-scale policy test of universal, automatic, and progressive Child Development Accounts (CDAs). Studies report the positive impacts of the CDA on financial outcomes (e.g., OK 529 college savings account holding and savings) and on nonfinancial outcomes (e.g., educational expectations, mother’s mental health, and child development). The impacts are often greater for disadvantaged and at-risk children. of note, the automatic components make the CDA in SEED OK inclusive and reduce asset inequality early in life. SEED OK studies indicate the importance of automatic account …
Testing Universal Child Development Accounts: Financial Impacts In A Large Social Experiment, Margaret M. Clancy, Sondra G. Beverly, Michael Sherraden, Jin Huang
Testing Universal Child Development Accounts: Financial Impacts In A Large Social Experiment, Margaret M. Clancy, Sondra G. Beverly, Michael Sherraden, Jin Huang
Center for Social Development Research
This study examines financial impacts of Child Development Accounts (CDAs) designed to build assets for every newborn in the treatment group. Data come from the randomized SEED for Oklahoma Kids experiment 7 years after the intervention began. The CDA’s automatic features have large impacts on account holding and asset accumulation for college, and especially so for disadvantaged children. This is an important finding because having designated college savings likely shapes children’s educational expectations, which in turn likely influences their precollege academic behavior and achievement. Moreover, demonstrating full inclusion—that is, accounts and assets for all newborns—sets the stage for more equitable …
Support For A Tax-Time Savings Policy: Interest In Deferring Tax Refunds With Matched Incentives, Dana C. Perantie, Jane E. Oliphant, Michal Grinstein-Weiss
Support For A Tax-Time Savings Policy: Interest In Deferring Tax Refunds With Matched Incentives, Dana C. Perantie, Jane E. Oliphant, Michal Grinstein-Weiss
Center for Social Development Research
Support for a Tax-Time Savings Policy: Interest in Deferring Tax Refunds With Matched Incentives