While Tufano's scholarly work has been published widely, it has also been part of larger public debates on business and public policy.
Financial Fragility of Households
Peter Tufano, along with Annamaria Lusardi (George Washington University) and Daniel Schneider (Princeton), and in conjunction with the market research firm TNS, has been studying the ability of households to have the financial resources to cope with modest emergencies. (USD$2000 in 30 days). This work is forthcoming in a Brookings Papers on Economic Activity volume, but has been cited in a number of press articles and by regulators.
http://blogs.forbes.com/tombarlow/2011/06/21/only-1-in-4-americans-confident-they-could-cover-unplanned-2000-expense/
http://www.springfieldnewssun.com/news/springfield-news/in-a-pinch-could-your-family-find-2-000--1182267.html
http://www.nytimes.com/2010/08/17/health/policy/17health.html
Prize-Linked Savings
Tufano has studied the ability of prize linked savings (akin to UK Premium bonds) to help low income families save. This work was published in the American Economic Review, Economics Letters, and book chapters, and was done in conjunction with D2D Fund (www.d2dfund.org), which Tufano co-founded. So far, the work has led to both media attention, including the Freakonomics coverage below—and indirectly led to changes in policies in 5 states.
http://www.freakonomics.com/2010/11/18/freakonomics-radio-could-a-lottery-be-the-answer-to-americas-poor-savings-rate/
http://www.freakonomics.com/2010/12/02/freakonomics-radio-who-could-say-no-to-a-no-lose-lottery/
http://www.cutimes.com/2011/06/09/nc-credit-unions-able-to-offer-savings-raffles
http://www.cutimes.com/2011/05/11/washington-governor-signs-savings-raffle-bill
http://www.cutimes.com/2011/04/27/nebraska-governor-signs-savings-raffle-bill
http://www.governing.com/topics/economic-dev/states-considering-allowing-prize-linked-savings-programs.html
http://www.dmbusinessrecord.com/main.aspSectionID=35&SubSectionID=98&ArticleID=12403
http://www.ft.com/cms/s/0/84cd9160-3a04-11e0-a44100144feabdc0.html#axzz1EFEkLHTb
http://assets.newamerica.net/blogposts/2011/prize_linked_savings_holds_promise_isnt_panacea-45193
http://www2.macleans.ca/2011/03/08/retirement-649/
http://newamerica.net/publications/articles/2010/credit_unions_launch_a_savings_lottery_and_everyone_hits_the_jackpot_2749
http://online.wsj.com/article/SB124786612839159989.html?mod=googlenews_wsj
Tax-Time Savings.
Tufano’s research over the last few years has focused on the potential to harness US federal tax refunds to stimulate savings by low to moderate income Americans. This research was published for both scholars and policymakers in a variety of outlets ranging from Tax Notes, NBER Tax Policy and the Economy, the Washington Post, and is forthcoming in the American Economic Journal. It is often credited with leading to two innovations in federal tax policy: the creation of IRS Form 8888, which allows refund recipients to “save some and spend some,” and President Obama’s announcement in September 2009 make it easy for refund recipients to buy US Savings Bonds.
For President Obama's September 5, 2009 announcement of the change in savings bond policy, click here. For the text of his announcement, click here.
Save Some/Spend Some research is cited in a January 31, 2005 letter from Members of Congress to the IRS, requesting that the IRS move forward on a split refunds proposal.
Commissioner Everson's reply to Members of Congress.
On May 31, 2006, the IRS announced that it will roll out split refunds in January 2007.
IRS form 8888, introduced January 2007, implements the split refund concept for all Americans.
New Ways to Build Financial Capabilities
Tufano’s work looks at the existing levels of financial knowledge by consumers—and new ways to boost that knowledge through new delivery channels, including what he calls “financial entertainment” (embedding financial lessons in fun media like videogames) and leveraging college admissions testing. The financial entertainment work, done by D2D Fund, has won awards and stimulated a discussion about new ways to enhance financial capabilities.
http://www.marketwatch.com/story/its-time-to-change-how-we-teach-investors-2011-06-07?reflink=MW_news_stmp
Click here to read the press release from the EIFLE Award
Coverage by the American Banker magazine, "Not just fund and Games".
http://centerforfinancialinclusionblog.wordpress.com/2011/05/26/vampires-can-they-make-financial-education-more-fun/
http://www.americanbanker.com/usb_issues/121_4/not-just-fun-and-games-1034653-1.html
http://articles.baltimoresun.com/2009-10-04/business/0910030045_1_personal-finance-games-doorways
http://blog.oregonlive.com/finance/2010/06/teacher_uses_video_games_as_to.html
Harvard Innovation Lab
Tufano was the Founding Co-Chair of the Harvard Innovation Lab, a new facility in Allston, Massachusetts, that will serve as the nexus for entrepreneurial activity for students across Harvard University and will support small business development in Boston.
http://harvardmagazine.com/2010/10/education-and-entrepreneurship-plans-for-harvard-in-allston?page=0,1
http://news.harvard.edu/gazette/story/2010/10/hbs_gift/
http://news.harvard.edu/gazette/story/2011/02/innovate-create/
Harvard Allston Work Team
Tufano was one of the co-chairs of this group, appointed by Harvard President Drew Faust, to assemble a set of proposals for the development of a massive site in Allston, next to Harvard Business School. The group issued its recommendations in June 2011
http://articles.boston.com/2011-06-16/news/29666051_1_drew-faust-allston-innovation-lab
http://news.harvard.edu/gazette/story/2011/06/qa-on-harvard-in-allston/