Comment on Henry Aaron's review of Can the Poor Save? Saving and Asset Building in Individual Development Accounts, appearing in the Journal of Economics and Pension Finance 7(3), 358-359

摘要

Our research monograph analyzes administrative data on Individual Development Accounts (IDAs) in the American Dream Demonstration (ADD). We find that, on average, IDA participants in ADD saved in IDAs. Henry Aaron's review states that the book is misleading because it claims that IDAs have an impact on total savings or net worth. These statements are false. Our book is explicit that IDA savings do not represent total savings or net worth. The sub-title of the book is "Saving and Asset Building in IDAs". Unless it is already clear from the context, the book uses the term "IDA savings" or "savings in IDAs", not "savings".