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Determinants of Asset Building (Series/Poor Finances: Assets and Low Income Households)
Author(s): Sondra Beverly, Michael Sherraden, Min Zhan, Trina R. Williams-Shanks, Yunju Nam, Reid Cramer

This report provides a policy-oriented conceptual framework that has the potential to explain saving and asset accumulation across the entire population and to account for the low levels of saving and asset accumulation in the low-income population. The report also reviews empirical evidence that supports or challenges this framework.

Posted: April 15, 2008

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The Effects of Welfare and IDA Program Rules on the Asset Holdings of Low-Income Families (Series/Poor Finances: Assets and Low Income Households)
Author(s): Signe-Mary McKernan, Caroline Ratcliffe, Yunju Nam

This report examines the effects of a comprehensive set of 13 welfare, Food Stamp, individual development account (IDA), earned income tax credit (EITC), and minimum wage program rules on the asset holdings of low-education single mothers and families. This report finds empirical evidence that more lenient asset limits in means-tested programs and more generous IDA program rules may have positive effects on asset holdings of low-education single mothers and families.

Posted: October 15, 2007

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How Have Asset Policies for Cash Welfare and Food Stamps Changed since the 1990s? (Article/Opportunity and Ownership Facts)
Author(s): Signe-Mary McKernan, William Margrabe

Cash welfare and food stamps are means tested: assets and income must fall below set limits for families to qualify. While this ensures that benefits go to the neediest families, asset limits may also discourage asset building. This Opportunity and Ownership fact sheet examines allowance changes for restricted and unrestricted accounts at the federal and state level. It tracks the different allowances for IDAs, food stamps, and welfare programs from 1992 to 2003.

Posted: June 28, 2007

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Some Thoughts About New and Old Asset-Promotion Policies (Reports/Opportunity and Ownership Project)
Author(s): Robert I. Lerman

Despite a plethora of proposals for helping people build assets, policy researchers have provided little methodological guidance about how best to view and evaluate these policies. This paper is an initial attempt to move in this direction, drawing on methods for assessing income-tested and social insurance programs and on analyses of public policies dealing with savings, investments, and risks. It examines whether and in what ways the traditional criteria of incentives, progressivity, and equity apply to an assessment of asset-building policies. Further, it discusses how to design an asset policy to deal with the potential social dislocations arising from gentrification.

Posted: June 14, 2007

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Do Asset Limits in Social Programs Affect the Accumulation of Wealth? (Policy Briefs/Opportunity and Ownership Project)
Author(s): Henry Chen, Robert I. Lerman

In providing benefits to those without resources to support themselves, public assistance programs must define what counts as resources. Typically, programs consider assets and income in determining assistance eligibility. However, valuing assets can be difficult and asset tests create disincentives to save. In some cases, one additional dollar of assets can result in the loss of benefits worth thousands of dollars. Current practices raise two questions: are asset tests fair and do asset tests discourage asset accumulation? This brief identifies the population subject to asset tests, reviews existing research, considers strategies for meeting objectives, and offers suggestions for additional research.

Posted: August 04, 2005

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