Household Economic Security and Public Policy

There are three challenges to household economic security: Slow income growth at the lower and middle parts of the income distribution, swings in households' use of debt and leverage, and large numbers of households with low savings. Appropriate policy responses to these include increasing work...

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Bibliographic Details
Published in:Business economics (Cleveland, Ohio) Ohio), 2016-04, Vol.51 (2), p.83-89
Main Author: DYNAN, KAREN
Format: Article
Language:English
Subjects:
Budgets
Business and Management
Consumer spending
Debt service
Economic analysis
Economic aspects
Economic growth
Economic policy
Economic statistics
Economics
Economics and Finance
Education
GDP
Government grants
Gross Domestic Product
Health insurance
Households
Housing
Income distribution
Individual retirement accounts
Labor force
Low income groups
Macroeconomics
Original Article
Per capita
Personal income
Political Economy/Economic Systems
Public policy
Subsidies
Tax credits
Wages & salaries
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Summary:There are three challenges to household economic security: Slow income growth at the lower and middle parts of the income distribution, swings in households' use of debt and leverage, and large numbers of households with low savings. Appropriate policy responses to these include increasing worker skills through greater opportunities for education and training, removing barriers to labor force participation, strengthening the safety net, improving access to credit while reducing exposure to harmful aspects of debt use, and making retirement savings easier and more automatic.
ISSN:0007-666X
1554-432X
DOI:10.1057/be.2016.18