Saving in Individual Development Accounts: Latent Growth Curve Modeling

This article examines saving patterns of participants in Individual Development Accounts (IDAs) using initial deposit and growth rate of savings in latent growth curve modeling (LGCM). This study uses data on low-income households from the American Dream Demonstration (ADD), the first large-scale demonstration program of IDAs. Contrary to a linear growth of savings examined by average values, LGCM revealed that participants saved much less 18 month after opening an IDA account. In addition, LGCM showed that individual participants have significant variations in initial deposits and growth rate of savings, and income type appears to explain some of these variations. While regular income is positively associated with initial deposits, irregular income is positively related to saving growth slope. Turning to institutional features, since direct deposit facilitates savings, users of direct deposit make more frequent deposits and have a much steeper rate of savings growth

Assets as a Resource Variable in the Stress Management of Low-Income Families

The hard times resulting from the 2008 recession represent an opportunity to re-examine the theoretical framework for how families use economic resources to adjust and adapt to stress. Sherraden’s (1991) theory of assets and McCubbin and Patterson’s (1983) Family Adjustment and Adaptation Response (FAAR) model are used to demonstrate how assets relate to family stressors and demands among a sample of 839 low-income families. The negative relationship between assets and financial stressors and financial strain suggest that the expansion of social welfare policies promoting assets among low-income families may positively influence family relations. Future research on family relations would benefit from measuring assets as economic resources and testing how assets affect family investments

Attitudes Toward Institutional Features and Savings in Individual Development Accounts: Latent Class Analysis

This exploratory study focuses on classifying attitudes toward institutional features of Individual Development Accounts (IDAs). This study also examines to what extent the attitudes change and how they are associated with savings in IDAs. While attitudes toward IDAs are generally positive, latent class analysis (LCA) found 3 groups, “highly positive, “moderately positive,” and “mixed opinion.” Race is significantly associated with the classification. This study found dynamic changes in attitudes at 18 months and 48 months after the baseline interview. While attitudes became somewhat more positive for 18% of participants, they became more negative for 26%. It was also found that participants with a mixed attitude had significantly lower savings, suggesting that attitudes influence saving in IDAs

Do Institutions Really Matter for Saving Among Low-Income Households? a Comparative Approach

This study aims to examine the extent to which competing theories explain saving of low-income households in Individual Development Accounts (IDAs). Competing theories include individual-oriented perspective, social stratification perspective, and institutional saving theory. This study uses American Dream Demonstration (ADD) data collected at the Tulsa IDA program. Compared with the individual perspective and the social stratification perspective, institutional features explain a significant part of the variance in saving outcomes measured by average monthly net deposit (AMND) and deposit frequency ratio (DFR). Findings suggest that an inclusive asset-based policy should be designed with institutional structures encouraging low-income households to save

Second Thoughts: Who Almost Participates in an IDA?

Self-selection into social intervention programs may bias the estimates of treatment impact. Data from an Individual Development Account (IDA) program (N = 758) are used to examine the self-selection process. Persons who applied but did not enroll are assumed to have had “second thoughts” about program participation. Multivariate logistic regression predicted second thoughts and showed that having children in the household and negative net worth, along with not owning a vehicle, were positively related to having second thoughts. Those saving for an education were more likely than those saving for a home or business to have second thoughts. Implications for social service administration and impact evaluation of IDAs are shared

Assets Beyond Saving in Individual Development Accounts

This study examines whether participation in Individual Development Accounts (IDAs) leads to a significant growth in assets beyond saving in the IDA accounts. Using a longitudinal experimental research design for low-income IDA participants, we test for impacts on five measures of assets: liquid assets, other financial assets, total financial assets, real assets, and total assets. Results show that, while there are no large differences in liquid and financial assets between the treatment group and the control group, IDA participants in the take-up group have more real assets and total assets than members of the control group. Results suggest that additional research to examine long-term effects of IDAs on asset growth may be fruitful

Fostering Low-Income Homeownership: A Longitudinal Randomized Experiment on Individual Development Accounts

For low-income families, homeownership represents an important strategy to move out of poverty and offers long-term social and economic development opportunities. Individual Development Account (IDA) programs facilitate savings towards assets such as home purchase through matched savings, financial education and case management. Using longitudinal experiment data from the American Dream Demonstration, this study examines the influence of IDA participation on homeownership rates among low-income participants after 18 months (Wave 2) of program participation and after 48 months (Wave 3) at program completion. Involvement in specific home-search activities at Waves 2 and 3 was measured to determine whether these activities mediated the affect of IDA programs on homeownership. Results from this randomized experiment indicated that IDA participation significantly increased homeownership rates at 48 months. Furthermore, participation in the home search activity, clearing debt, at 18 months of program participation mediated the effect of the IDA program on homeownership at 48 months

Bocavirus Infection in Hospitalized Children, South Korea

This study presents the first evidence of human bocavirus infection in South Korean children. The virus was detected in 27 (8.0%) of 336 tested specimens, including 17 (7.5%) of 225 virus-negative specimens, collected from children with acute lower respiratory tract infection

A Study on Thermal Modeling and Heat Load Mitigation for Satellite Electronic Components

Since most of the satellite components are using various EEE (Electrical, Electronic and Electromechanical) parts, the reliability of EEE parts acts very important in the satellite system. There are many factors that influence the reliability of EEE parts in the satellite system. Excessively dissipated heat can cause the failure of EEE parts and consequently, leading to a failure of total satellite system. In this paper, the thermal modeling using nodal network was compared with that using plate modeling to find out which one is the most suitable methodology. For a comparison, KOMPSAT- 1 SAR was modeled by two different modeling and the result was discussed. There was almost no difference in the numerical results between the two modeling methods. However, while it took much more time to perform thermal analysis using the nodal network modeling method, and the debugging was more difficult in the plate modeling method when the error is occurred. The computation time was considerably reduced by developing and implementing the input file format transfer code when using nodal network modeling method. It was found that the nodal network modeling method is suitable for the complicated components, such as SAR or transponder, because of its simple debugging ability. Excessive heat load was expected on some EEE parts of SAR such as high heat-dissipated diodes, transistors, and inductors due to increased power requirements of KOMPSAT-2 satellite system. The methods for the mitigation of heat load were studied through the design change of housing or the layout change of high power parts