How 401(k) Plans Make Recessions Worse

Teresa Ghilarducci and Joelle Saad-Lessler
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Joelle Saad-Lessler: Schwartz Center for Economic Policy Analysis (SCEPA), https://www.economicpolicyresearch.org

No 2014-9, SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: This study looks past the decline in housing values, the success of traditional automatic stabilizers and stimulus spending as explanations of the dynamics of the recession. Annuity based retirement accounts backed by government programs also helped the economy, while financially-based retirement programs like 401(k) type programs, hurt the economy.

Keywords: Automatic stabilizers; Social Security; 401(k) plans (search for similar items in EconPapers)
JEL-codes: E21 H30 H55 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2014-06
New Economics Papers: this item is included in nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:epa:cepawp:2014-10

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