The Balance Sheets of Younger Americans: Is the American Dream at Risk?
May 8-9, 2014
To better understand the balance-sheet challenges of younger Americans, and consider new ideas and promising policy directions to meet these challenges, the Center for Household Financial Stability offered this symposium. New and cutting-edge research from leading academics nationwide, from within and beyond the Federal Reserve System, was presented on a wide range of topics.
More about the symposium »
Thursday, May 8
Welcome
- James Bullard, President, Federal Reserve Bank of St. Louis
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Keynote Address
- Introduction
Ray Boshara, Federal Reserve Bank of St. Louis
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- Keynote
Neil Howe, Founding Partner and President, LifeCourse Associates and President, Saeculum Research
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- Keynote Q&A
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- Extended Interview with Keynote Speaker Neil Howe
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Plenary One — A Micro and Macro Look at Younger Americans' Balance Sheets
- Moderator
David Wheelock, Federal Reserve Bank of St. Louis
- The State of the Balance Sheets of Younger Americans
Lisa Dettling and Joanne Hsu, Board of Governors, Federal Reserve System
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- Links Between Younger Americans' Balance Sheets and Economic Growth
William Emmons and Bryan Noeth, Federal Reserve Bank of St. Louis
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- Discussant
Steve Fazzari, Washington University in St. Louis
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- Plenary One Q&A
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Plenary Two — Student Loans
- Moderator
Rajeev Darolia, University of Missouri
- Student Loans and the Economic Activity of Young Consumers
Zachary Bleemer, Meta Brown, Donghoon Lee and Wilbert van der Klaauw, Federal Reserve Bank of New York
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- Does Parents’ College Savings Reduce College Debt?
William Elliott and Melinda Lewis, University of Kansas;
Ilsung Nam, Hallym University Institute of Aging; and
Michal Grinstein-Weiss, Washington University in St. Louis
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- Discussant
Alex Monge-Naranjo, Federal Reserve Bank of St. Louis
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- Plenary Two Q&A
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Welcome
- Michael Sherraden, Washington University in St. Louis
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Clint Zweifel, Missouri State Treasurer
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Tishaura Jones, City of St. Louis Treasurer
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Friday, May 9
Concurrent Session I
- Moderator
Julie Birkenmaier, Saint Louis University
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- Toward Healthy Balance Sheets: The Role of Savings Accounts for Young Adults’ Asset Diversification and Accumulation
Terri Friedline, Paul Johnson and Robert Hughes, University of Kansas
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- Financial Decisions of Young Households During the Great Recession: An Examination of the SCF 2007-09 Panel
Wenhua Di, Federal Reserve Bank of Dallas;
Sherrie L.W. Rhine, Federal Deposit Insurance Corp.;
William H. Greene, New York University;
and Emily Ryder, Federal Reserve Bank of Dallas
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- Discussant
John Sabelhaus, Board of Governors, Federal Reserve System
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- Panel Response
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- Q&A
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Concurrent Session II
- Moderator
Barry Cynamon, Federal Reserve Bank of St. Louis
- Impacts of Child Development Accounts on Change in Parental Educational Expectations: Evidence from a Statewide Social Experiment
Youngmi Kim, Virginia Commonwealth University;
Michael Sherraden, Washington University in St. Louis;
Jin Huang, Saint Louis University;
and Margaret Clancy, Washington University in St. Louis
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- Trends and Patterns in the Asset Holdings of Young Households
Ellen A. Merry and Logan Thomas, Board of Governors, Federal Reserve System
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- Discussant
Trina Williams Shanks, University of Michigan
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- Q&A
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Plenary Three — Homeownership
- Moderator
Todd Swanstrom, University of Missouri–St. Louis
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- Homeownership and Wealth Among Low-Income Young Adults: Evidence from the Community Advantage Program
Michal Grinstein-Weiss, Washington University in St. Louis;
Lucy Gorham, Center for Community Capital;
Blair Russell, Washington University in St. Louis;
and Clinton Key, Pew Charitable Trusts
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- Aggregate and Distributional Dynamics of Consumer Credit in the U.S.
Carlos Garriga, Don Schlagenhauf and Bryan Noeth, Federal Reserve Bank of St. Louis
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- Discussant
John Duca, Federal Reserve Bank of Dallas
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- Panel Response
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- Q&A
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Plenary Four — Economic Mobility
- Moderator
Jason Purnell, Washington University in St. Louis
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- The Balance Sheets and Economic Mobility of Generation X
Diana Elliott, Pew Charitable Trusts
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- Coming of Age in the Early 1970s vs. the Early 1990s: Differences in Wealth Accumulation of Young Households in the United States, and Implications for Economic Mobility
Daniel Cooper, Federal Reserve Bank of Boston
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- Discussant
Bhashkar Mazumder, Federal Reserve Bank of Chicago
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- Panel Response
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- Q&A
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Closing Reflections: From Research to Policy
- Moderator
Julie Stackhouse, Federal Reserve Bank of St. Louis
- Michael Sherraden, Washington University in St. Louis
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Ray Boshara, Federal Reserve Bank of St. Louis
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Thank You / Adjourn
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Julie Stackhouse, Federal Reserve Bank of St. Louis
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