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New evidence on 401(k) borrowing and household balance sheets

Li, Geng; Smith, Paul A. - Federal Reserve Board (Board of Governors of the … - 2009

Despite news reports suggesting a rise in 401(k) borrowing in recent years, we find that the share of eligible households with 401(k) loans in the 2007 Survey of Consumer Finances was about 15 percent, roughly what it has been since 1995. We find that the best predictors of 401(k) borrowing...

Persistent link: https://www.econbiz.de/10004967552

Borrowing from yourself: 401(k) loans and household balance sheets

Li, Geng; Smith, Paul A. - Federal Reserve Board (Board of Governors of the … - 2008

We examine 401(k) borrowing since 1992 and identify a puzzle: despite potential gains from borrowing against 401(k) assets instead of from other sources, most eligible households eschew 401(k) loans, including many who carry relatively expensive balances on credit cards and auto loans. We...

Persistent link: https://www.econbiz.de/10005721245

401(k) matching contributions in company stock: costs and benefits for firms and workers

Brown, Jeffrey R.; Liang, Nellie; Weisbenner, Scott - Federal Reserve Board (Board of Governors of the … - 2004

This paper examines why some employers provide matching contributions to 401(k) plans in company stock and explores the implications of match policy for employee retirement wealth. Unlike stock option grants to non-executives, a firm's decision to match in company stock does not appear to be...

Persistent link: https://www.econbiz.de/10005393809

Investor behavior and the purchase of company stock in 401(k) plans - the importance of plan design

Liang, Nellie; Weisbenner, Scott - Federal Reserve Board (Board of Governors of the … - 2002

Using panel data for nearly 1,000 companies during 1991 to 2000, this paper finds that employees allocated nearly 20 percent of their total 401(k) contributions to purchases of company stock, and then relates this share to plan design features and firm financial characteristics. We find that the...

Persistent link: https://www.econbiz.de/10005394204

The level and distribution of economic well-being

Bernanke, Ben S. - Federal Reserve Board (Board of Governors of the … - 2007

a speech before the Greater Omaha Chamber of Commerce, Omaha, Nebraska

Persistent link: https://www.econbiz.de/10010725350

The rise in lifetime earnings inequality among men

Aaronson, Stephanie - Federal Reserve Board (Board of Governors of the … - 2002

demonstrates that lifetime earnings inequality has increased over the past 30 years. We first explore how starting wages and wage … results are consonant with the data on starting wages and wage growth. Finally, we show that the increase in inequality has … been largely driven by greater dispersion in hourly wages, although declining hours of work among low-education young men …

Persistent link: https://www.econbiz.de/10005721085

Does the NEA crowd out private charitable contributions to the arts?

Dokko, Jane K. - Federal Reserve Board (Board of Governors of the … - 2008

In this paper, I extend a theoretical model of the crowding out hypothesis, whereby government contributions to a public good displace private giving, in order to illustrate how dollar-for-dollar crowding out is possible even when individuals regard their own contributions and government grants...

Persistent link: https://www.econbiz.de/10005393657

Nominal wage rigidities and the propagation of monetary disturbances

Erceg, Christopher J. - Federal Reserve Board (Board of Governors of the … - 1997

Recent research has challenged the ability of sticky price general equilibrium models to generate a contract multiplier, i.e., an effect of a monetary innovation on output that extends beyond the contract interval. We show that a simple dynamic general equilbrium model that includes...

Persistent link: https://www.econbiz.de/10005368194

Tradeoffs between inflation and output-gap variances in an optimizing-agent model

Erceg, Christopher J.; Henderson, Dale W.; Levin, Andrew T. - Federal Reserve Board (Board of Governors of the … - 1998

the special case in which prices are sticky and wages are perfectly flexible. When the model is calibrated to exhibit an …

Persistent link: https://www.econbiz.de/10005368225

Human capital, unemployment, and relative wages in a global economy

Davis, Donald R.; Reeve, Trevor A. - Federal Reserve Board (Board of Governors of the … - 2000

This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a …

Persistent link: https://www.econbiz.de/10005368256