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The Potential for Savings Accounts to Protect Young-Adult Households from Unsecured Debt in Periods of Macroeconomic Stability and Decline

March 12, 2016

This article tests the association between a savings account and debt in the lives of American young adults during periods of macroeconomic stability and decline and finds that a savings account may help young adults invest in their debt by entering better, healthier credit markets and avoiding riskier ones, especially during bad economic times.