Lawrence Christiano, Roberto Motto and Massimo Rostagno (2003) discuss the role of money in restoring stability under a liquidity trap situation in “The Great Depression and the Friedman-Schwartz hypothesis,” Journal of Money, Credit and Banking, Vol. 35(6), pp. 1119-1197.
Instead, employees appear to voluntarily purchase abundant amounts of company stock, despite the obvious risk of linking their current income and retirement wealth to the financial health of their employer. These patterns are troubling because they raise doubts about the financial security of workers in later life.