Essays on economic aspects of educational choice [microform] / (1982)
Thesis (Ph. D.)--Harvard University, 1982.
Essays on economic aspects of educational choice / (1982)
Thesis (Ph. D.)--Harvard University, 1982.
Test Scores and Self-Selection of Higher Education: College Attendance versus College Completion
Steven F. Venti, David A. Wise
As a companion paper to our work on students' application and colleges' admission decisions, we have estimated a joint discrete-continuous utility maximization model of college attendance and college...
Test Scores, Educational Opportunities, and Individual Choice
Steven F. Venti, David A. Wise
A model combining student preferences for college with university admissions decisions is estimated to provide information on the role of test scores in the determination of post-secondary...
The Determinants of IRA Contributions and the Effect of Limit Changes
Steven F. Venti, David A. Wise
Tax-deferred savings are potentially an important component of savings for retirement and could represent a very substantial increase in tax-free savings for many employees. IRAs may also have a...
Steven F. Venti, David A. Wise
Increasing current Individual Retirement Account (IRA) limits would lead to substantial increases in tax-deferred saving according to evidence in the paper, based on the 1983 Survey of Consumer...
But They Don't Want to Reduce Housing Equity
Steven F. Venti, David A. Wise
The majority of the wealth of most elderly is in the form of housing equity. It is often claimed that many elderly would transfer wealth from housing to finance current consumption expenditure, were...
401(k) Plans and Tax-Deferred Saving
James M. Poterba, Steven F. Venti, David A. Wise
This paper examines the role of 40 1(k) plans in retirement saving by U.S. households. It charts the rapid growth of these plans during the 1980s; more than 15 million workers now participate in...
Wages in the Federal and Private Sectors
This study addresses the legal principle of "comparability" that ties federal sector wages to wages in the private sector. We first examine comparability by determining if workers with similar...
The Effects of Special Saving Programs on Saving and Wealth
James M. Poterba, Steven F. Venti, David A. Wise
Individual saving through targeted retirement saving accountsþIRAs and 401(k)sþgrew rapidly in the United States during the 1980s. The microeconomic evidence presented in this paper suggests...
How Retirement Saving Programs Increase Saving.
Poterba, James M, Venti, Steven F, Wise, David A
This paper summarizes the authors work on the effect of IRA and 401(k) contributions on net personal saving. They consider many different nonparametric approaches to controlling for heterogeneity in...
Have IRAs Increased U.S. Saving? Evidence from Consumer Expenditure Surveys.
Venti, Steven F, Wise, David A
The vast majority of individual retirement account (IRA) contributions represent net new saving, based on evidence from the quarterly Consumer Expenditure Surveys. The results are based on analysis...
Moving and Housing Expenditure: Transaction Costs and Disequilibrium
Steven F. Venti, David A. Wise
The paper emphasizes initially the effects of moving transaction costs on the potential effect of government rent subsidy programs. As a concomitant to this analysis, the paper reaffirms the low...
Have IRAs Increased U.S. Saving?: Evidence from Consumer Expenditure Surveys
Steven F. Venti, David A. Wise
The vast majority of Individual Retirement Account contributions represent net new saving, based on evidence from the quarterly Consumer Expenditure Surveys (CES). The results are based on analysis...
Aging, Moving, and Housing Wealth
Steven F. Venti, David A. Wise
We have described the relationship between family attributes and moving, and between moving and change in housing wealth. Moving is often associated with retirement and with precipitating shocks like...
Aging and the Income Value of Housing Wealth
Steven F. Venti, David A. Wise
The potential of reverse annuity mortgages to increase the current income of the elderly is analyzed. We conclude that most low-income elderly also have little housing equity, although this is not...
The Wealth of Cohorts: Retirement Saving and the Changing Assets of Older Americans
David A. Wise, Steven F. Venti
Personal retirement accounts are becoming an increasingly important form of retirement saving. Using data from the Survey of Income and Program Participation, the paper considers the effect of this...
Lump-Sum Distributions from Retirement Saving Plans: Receipt and Utilization
James M. Poterba, Steven F. Venti, David A. Wise
One of the central issues in evaluating the ongoing shift from defined benefit (DB) to defined contribution (DC) pension plans is the degree to which assets in DC plans will be withdrawn before plan...
Do 401(k) Contributions Crowd Out Other Persoanl Saving?
James M. Poterba, Steven F. Venti, David A. Wise
During the late 1980s. contributions to 401(k) plans eclipsed contributions to Individual Retirement Accounts as the leading form of tax-deferred individual retirement saving. This paper uses data...
The Wealth of Cohorts: Retirement Saving and the Changing Assets of Older Americans
Steven F. Venti, David A. Wise
Personal retirement accounts are becoming an increasingly important form of retirement saving. Using data from the Survey of Income and Program Participation, the paper considers the effect of this...
Personal Retirement Saving Programs and Asset Accumulation: Reconciling the Evidence
James M. Poterba, Steven F. Venti, David A. Wise
Over the past several years, we have undertaken a series of analysies of the effect of IRA and 401(k) contributions on net personal saving. Saver hetero- geneity is the key impediment to determining...
Implications of Rising Personal Retirement Saving
James M. Poterba, Steven F. Venti, David A. Wise
Retirement saving accounts, particularly employer-provided 401(k) plans rapidly in the last decade. More than forty percent of workers are currently eligible for these" plans, and over seventy...
Pre-Retirement Cashouts and Foregone Retirement Saving: Implications for 401(k) Asset Accumulation
James M. Poterba, Steven F. Venti, David A. Wise
This paper presents new evidence on the potential importance of 401(K) assets in contributing to the retirement resources of future retirees. We use data on past 401(k) participation rates by age and...
Choice, Chance, and Wealth Dispersion at Retirement
Steven F. Venti, David A. Wise
People earn just enough to get by' is a phrase often used to explain the low personal saving rate in the United States. The implicit presumption is that households simply do not earn enough to pay...
Steven F. Venti, David A. Wise
Housing equity is the principle asset of a large fraction of older Americans. Indeed many retired persons have essentially no financial assets, other then Social Security and, for some,...
Aging and Housing Equity: Another Look
Steven F. Venti, David A. Wise
Aside from Social Security and, for some, employer-provided pensions, housing equity is the principle asset of a large fraction of older Americans. Many retired persons have essentially no financial...
The Transition to Personal Accounts and Increasing Retirement Wealth: Macro and Micro Evidence
James M. Poterba, Steven F. Venti, David A. Wise
Retirement saving has changed dramatically over the last two decades. There has been a shift from employer-managed defined benefit pensions to defined contribution retirement saving plans that are...
Rise of 401(k) Plans, Lifetime Earnings, and Wealth at Retirement
James Poterba, Steven F. Venti, David A. Wise
Saving through private pensions has been an important complement to Social Security in providing for the financial needs of older Americans. In the past twenty five years, however, there has been a...
Saving Puzzles and Saving Policies in the United States
Annamaria Lusardi, Jonathan Skinner, Steven F. Venti
In the past two decades the widely reported personal saving rate in the United States has dropped from double digits to below zero. First, we attempt to account for the decline in the National Income...