Current Issues in Economics and Finance
The Impact of Individual Retirement Accounts on Savings
September 1995 Volume 1, Number 6
JEL classification: E21, E62, H31

Authors: Jonathan McCarthy and Han N. Pham

Bills to expand individual retirement accounts have been introduced in both houses of Congress this year. While proponents argue that these accounts can help reverse the nation's declining saving rate, recent economic research suggests that the effect of the accounts on savings is in fact quite small.

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