Assessing the Effectiveness of Saving Incentives
认为，关于定向储蓄激励有效性的研究比实证估计的差异所显示的更有价值，IRA和401(k)计划似乎能适度刺激新储蓄，且每美元税收损失的资本积累增量较大。
The authors argue that there is more to be learned from recent research on the effectiveness of targeted saving incentives than the wide variation in empirical estimates suggests. They conclude that characterizations of ‘all new saving’ or ‘no new saving’ are extreme IRAs and 401(k) plans appear to stimulate moderate amounts of new saving. The authors suggest a cost-benefit approach to ask: What is the incremental gain in capital accumulation per dollar of foregone revenue? For quite conservative measures of the saving impacts of IRAs or 401(k)s, the incremental gains in capital accumulation per dollar of lost revenue are large.