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dc.contributor.authorBeshears, John Leonard
dc.contributor.authorChoi, James J
dc.contributor.authorLaibson, David I.
dc.contributor.authorMadrian, Brigitte
dc.date.accessioned2011-07-20T17:50:47Z
dc.date.issued2011
dc.identifier.citationBeshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. 2011. The Availability and Utilization of 401(k) Loans. HKS Faculty Research Working Paper Series RWP11-023, John F. Kennedy School of Government, Harvard Universityen_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:5027953
dc.description.abstractWe document the loan provisions in 401(k) savings plans and how participants use 401(k) loans. Although only about 22% of savings plan participants who are allowed to borrow from their 401(k) have such a loan at any given point in time, almost half had used a 401(k) loan over a longer, seven-year horizon. The probability of having a loan follows a hump-shaped pattern with respect to age, job tenure, account balance, and salary, but conditional on having a loan, loan size as a fraction of 401(k) balances declines with respect to these variables. Participants are less likely to use loans in plans that charge a higher interest rate, and loans are smaller when plans allow fewer simultaneously outstanding loans, impose a shorter maximum possible loan duration, or charge a lower interest rate.en_US
dc.language.isoen_USen_US
dc.publisherJohn F. Kennedy School of Government, Harvard Universityen_US
dc.relation.isversionofhttp://web.hks.harvard.edu/publications/workingpapers/citation.aspx?PubId=7864en_US
dash.licenseLAA
dc.subjectMBG - Markets, Business, and Governmenten_US
dc.subjectFinanceen_US
dc.subjectLabor Economicsen_US
dc.subject401(K) Loansen_US
dc.titleThe Availability and Utilization of 401(k) Loansen_US
dc.typeResearch Paper or Reporten_US
dc.description.versionAuthor's Originalen_US
dc.relation.journalHKS Faculty Research Working Paper Seriesen_US
dash.depositing.authorMadrian, Brigitte
dc.date.available2011-07-20T17:50:47Z
dash.contributor.affiliatedBeshears, John
dash.contributor.affiliatedMadrian, Brigitte
dash.contributor.affiliatedLaibson, David


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