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Using financial innovation to support savers: from coercion to excitement

Author

Listed:
  • Daniel Schneider
  • Peter Tufano

Abstract

The simplest ideas for helping Americans save may be the most powerful. One process innovation would allow workers once again to purchase U.S. Savings Bonds on their tax returns. An example of a product innovation is a savings account tied to winning a prize.

Suggested Citation

  • Daniel Schneider & Peter Tufano, 2009. "Using financial innovation to support savers: from coercion to excitement," Communities and Banking, Federal Reserve Bank of Boston, issue Spr, pages 6-8.
    • Handle: RePEc:fip:fedbcb:y:2009:i:spr:p:6-8
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    File URL: http://www.bostonfed.org/commdev/c&b/2009/spring/Tufano_Schneider_savings_innovations.pdf
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    Citations

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    Cited by:

    1. Annamaria Lusardi & Daniel Schneider & Peter Tufano, 2011. "Financially Fragile Households: Evidence and Implications," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 42(1 (Spring), pages 83-150.
    2. Sherraden, Margaret & Peters, Clark & Wagner, Kristen & Guo, Baorong & Clancy, Margaret, 2013. "Contributions of qualitative research to understanding savings for children and youth," Economics of Education Review, Elsevier, vol. 32(C), pages 66-77.
    3. Alan J. Auerbach & William G. Gale, 2009. "Activist fiscal policy to stabilize economic activity," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 327-374.
    4. M. Sigova V. & I. Klyuchnikov K. & М. Сигова В. & И. Ключников К., 2016. "Теория Финансовых Инноваций. Критический Обзор Основных Подходов // The Theory Of Financial Innovations. A Critical Review Of Principal Approaches," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 20(6), pages 85-95.
    5. Oliveira, Pedro & von Hippel, Eric, 2011. "Users as service innovators: The case of banking services," Research Policy, Elsevier, vol. 40(6), pages 806-818, July.

    More about this item

    Keywords

    Savings bonds; Savings accounts;

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