Volume 36, Number 4 (Fall) 2001
Lusardi, Annamaria, Ricardo Cossa, and Erin L. Krupka. 2001. "Savings of Young Parents." Journal of Human Resources 36(4):762-794.
In this paper, we examine household savings using data from the National Longitudinal Survey, Cohort 1997. This data set provides detailed information about assets and liabilities of parents with teenage children. In our empirical work, we have to first deal with several problems in measuring wealth. Although many responding parents report owning assets and liabilities, they often do not report their values. To get around the nonresponse problem, we impute the missing values for assets and liabilities. To study the patterns of accumulation of young parents, we examine wealth holdings and asset ownership across several demographic groups.
Annamaria Lusardi is an associate professor of economics at Dartmouth College, Ricardo Cossa is a director at Chicago Partners, and Erin L Krupka is an associate economist at the Federal Reserve Bank of Chicago. The authors wish to thank Rob Alessie, Gary Engelhardt, Mike Hurd, Erik Hurst, Arthur Kennickell, Bob Michael, Randy Olsen, Jim Smith, an anonymous referee. and participants at the Conference of Early Results from the National Longitudinal Survey of Youth, 1997 Cohort, for suggestions and comments. All errors are our own. Annamaria Lusardi acknowledges with thanks the financial support of the Spencer Foundation through its grant to the Harris School in support of the Conference of Early Results from the National Longitudinal Survey of Youth. The opinions expressed in this paper are those of the authors and do not necessarily represent the opinions of the Federal Reserve Bank of Chicago or of Chicago Partners. The data used in this article can be obtained beginning May 2002 through April 2005 from Annamaria Lusardi, Department of Economics, Dartmouth College, Hanover, NH 03755. E-mail: Lusardi@Dartmouth.edu .
© 2002 by the Board of Regents of the University of Wisconsin System
US ISSN 0022-166X