Reinventing savings bonds
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Publication
2005 - Division of Research, Harvard Business School, Boston, Massachusetts
Language
English
Word Count
9,500 words, Guess
Page Count
38 pages
Identifiers
- Open LibraryOL57679615M
- OCLC Control Number64388768
Description
Savings Bonds have always served multiple objectives: funding the U. S. government, democratizing national financing, and enabling families to save. Increasingly, this last goal has been ignored. A series of efficiency measures introduced in 2003 make these bonds less attractive and less accessible to savers. Public policy should go in the opposite direction: U.S. savings bonds should be reinvigorated to help low and moderate income (LMI) families build assets. More and more, these families' saving needs are ignored by private sector asset managers and marketers. With a few relatively modest changes, the Savings Bond program can be reinvented to help these families save, while still increasing the efficiency of the program as a debt management device. Savings bonds provide market-rate returns, with no transaction costs, and are a useful commitment savings device.
Subjects
Series Statement
- Working paper / Division of Research, Harvard Business School -- 06-017
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