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The Roots of Broadened Stock Ownership

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  • Joshua Hall

    (West Virginia University, Department of Economics)

Abstract

This analysis examines recent trends in stock ownership and explains the reasons for the dramatic increase in stock ownership among a broader and increasingly diverse number of Americans. The key reasons for this democratization of the stock market include: the popularization of the mutual fund; the general reduction in the multiple taxation of savings and investment that resulted from the genesis of the IRA and 401(k) plan; and the emphasis of the Federal Reserve on price stability which has lowered interest rates, stabilized financial markets, and acted as a de facto tax cut.

Suggested Citation

  • Joshua Hall, 2016. "The Roots of Broadened Stock Ownership," Working Papers 16-06, Department of Economics, West Virginia University.
    • Handle: RePEc:wvu:wpaper:16-06
    as

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    File URL: http://busecon.wvu.edu/phd_economics/pdf/16-06.pdf
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    References listed on IDEAS

    as
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    3. James M. Poterba & Steven F. Venti & David A. Wise, 1996. "How Retirement Saving Programs Increase Saving," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 91-112, Fall.
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