Savings Incentives for Low- and Moderate-Income Families in the United States: Why is the Saver's Credit Not More Effective?

Esther Duflo, William Gale, Jeffrey Liebman (), Peter Orszag and Emmanuel Saez

Journal of the European Economic Association, 2007, vol. 5, issue 2-3, 647-661

Abstract: This paper uses data from the largest tax preparer in the United States to estimate the impact of the "saver's credit," a US federal program providing financial incentives to encourage retirement savings, on the decision to contribute to an IRA. It finds significant, but very modest, effects. This is contrasted with results from a field experiment showing much larger impacts of clearly presented matching incentives. Various explanations are discussed for why the saver's credit is not more effective. (JEL: H00, H31, C93, D14) (c) 2007 by the European Economic Association.

Date: 2007
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