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NBER Working Papers and Publications
|September 2004||Education Savings Incentives and Household Saving. Evidence from the 2000 TIAA-CREF Survey of Participant Finances |
in College Choices: The Economics of Where to Go, When to Go, and How to Pay For It, Caroline M. Hoxby, editor
|February 2003||Education Saving Incentives and Household Saving: Evidence from the 2000 TIAA-CREF Survey of Participant Finances|
This paper examines the effects of education saving incentives on the level of private saving by households. Little is known about this subject. One explanation for this gap in the literature is that because education saving incentives are relatively new, data on education saving are not readily available. Using wealth data from a survey of TIAA-CREF participants, this paper attempts to estimate whether saving in education saving programs offsets other household saving. As in the extant literature of the impact of retirement saving programs on household saving, an empirical challenge is how to deal with the issue of saver heterogeneity. In this paper, two strategies are used to address this issue. The first strategy distinguishes savers from non-savers by whether households have an IRA or ...
Published: Hoxby, Caroline M. (ed.) College Choices: The Economics of Where to Go, When to Go, and How to Pay For It. Chicago and London: University of Chicago Press, 2004.