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Research ArticleArticles

Do Welfare Asset Limits Affect Household Saving?

Evidence from Welfare Reform

Erik Hurst and James P. Ziliak
Journal of Human Resources, January 2006, XLI (1) 46-71; DOI: https://doi.org/10.3368/jhr.XLI.1.46
Erik Hurst
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James P. Ziliak
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Abstract

We use data from the Panel Study of Income Dynamics to estimate the effect of new saving incentives implemented as part of the 1996 welfare reform on household saving. Economic theory predicts that loosening asset limits will increase total savings for households with a large ex-ante probability of welfare receipt such as female-headed households with children. We follow a sample of female heads with children and find that in both absolute terms, and relative to comparison groups of male heads and female heads without children, there has been no effect of welfare policy changes on the saving of at-risk households.

  • Received June 2003.
  • Accepted March 2005.

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Journal of Human Resources
Vol. XLI, Issue 1
1 Jan 2006
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Do Welfare Asset Limits Affect Household Saving?
Erik Hurst, James P. Ziliak
Journal of Human Resources Jan 2006, XLI (1) 46-71; DOI: 10.3368/jhr.XLI.1.46

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Do Welfare Asset Limits Affect Household Saving?
Erik Hurst, James P. Ziliak
Journal of Human Resources Jan 2006, XLI (1) 46-71; DOI: 10.3368/jhr.XLI.1.46
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