Savings Account Ownership During the Great Recession
Sherrie L. W. Rhine (),
William Greene () and
Emily Perlmeter ()
Additional contact information
Sherrie L. W. Rhine: Federal Deposit Insurance Corporation
Emily Perlmeter: Federal Reserve Bank of Dallas
Journal of Family and Economic Issues, 2016, vol. 37, issue 3, No 2, 333-348
Abstract In the aftermath of the Great Recession, a substantial number of families were left financially at risk, especially those with lower income, less wealth, fewer years of education, and unstable employment. This study examined how families responded to the financial stresses of the Great Recession and found that families who were working age, had higher levels of education, and had become non-homeowners were more likely to maintain or open a basic savings account; whereas families who had lost a substantial amount of annual family income or wealth or were Black or Hispanic were more likely to have been without a savings account over the period. Insights from this study will help inform policymakers and others interested in encouraging family financial security and resiliency through basic savings accounts.
Keywords: Basic savings accounts; Savings account ownership; Family financial security; Great Recession (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s10834-016-9489-0 Abstract (text/html)
Access to full text is restricted to subscribers.
Working Paper: Savings account ownership during the great recession (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:jfamec:v:37:y:2016:i:3:d:10.1007_s10834-016-9489-0
Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10834/PS2
Access Statistics for this article
Journal of Family and Economic Issues is currently edited by Joyce Serido
More articles in Journal of Family and Economic Issues from Springer
Bibliographic data for series maintained by Sonal Shukla ().