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Meet the Researchers

Photo of Paul A. Smith

Paul A. Smith

Deputy Associate Director Program Direction Section Research and Statistics
[email protected]

Education

  • Ph.D., Public Economics, University of Wisconsin, 1997
  • M.S., Public Economics, University of Wisconsin, 1993
  • B.A., Economics, University of Vermont, 1991
Current Research Topics
  • Household Wealth and Saving
  • Household Finance
  • Deputy Associate Director

    Board of Governors of the Federal Reserve System

    2019 - present
  • Assistant Director

    Board of Governors of the Federal Reserve System

    2014 - 2019
  • Chief

    Board of Governors of the Federal Reserve System

    2011 - 2015
  • Senior Economist

    Council of Economic Advisers

    2010 - 2011
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2007 - 2010
  • Economist

    Board of Governors of the Federal Reserve System

    2003 - 2007
  • Financial Economist

    U.S. Department of the Treasury

    1997 - 2003
  • Measuring Aggregate Housing Wealth: New Insights from Machine Learning
    Joshua H. Gallin, Raven Molloy, Eric Nielsen, Paul Smith, and Kamila Sommer
    Journal of Housing Economics (2021)
    https://doi.org/10.1016/j.jhe.2020.101734
    See also » FRB Working Paper (2018)
  • The Distributional Financial Accounts
    Michael Batty, Joseph Briggs, Karen Pence, Paul Smith, and Alice Volz
    FEDS Notes (2019)
    https://doi.org/10.17016/2380-7172.2436
  • State and Local Pension Funding in the Enhanced Financial Accounts
    Matthew C. Hoops, Paul A. Smith, and Irina Stefanescu
    FEDS Notes (2016)
    https://doi.org/10.17016/2380-7172.1700
  • Launching the Enhanced Financial Accounts
    Paul A. Smith
    FEDS Notes (2015)
    https://doi.org/10.17016/2380-7172.1593
  • Accounting for Mortgage Charge-Offs in the Financial Accounts of the United States
    James E. Kennedy, Maria Perozek, and Paul A. Smith
    FEDS Notes (2014)
    https://doi.org/10.17016/2380-7172.0032
  • Enhanced Financial Accounts
    Joshua Hojvat Gallin and Paul A. Smith
    FEDS Notes (2014)
    https://doi.org/10.17016/2380-7172.0025
  • The Current State of U.S. Household Balance Sheets
    Jacob Krimmel, Kevin B. Moore, John Sabelhaus, and Paul Smith
    Federal Reserve Bank of St. Louis Review (2013)
  • The Effect of Regulation on Optimal Corporate Pension Risk
    David A. Love, Paul A. Smith, and David W. Wilcox
    Journal of Financial Economics (2011)
    https://doi.org/10.1016/j.jfineco.2011.02.016
  • Does Health Affect Portfolio Choice?
    David A. Love and Paul A. Smith
    Health Economics (2010)
    https://doi.org/10.1002/hec.1562
    See also » FRB Working Paper (2007)
  • 401(k) Loans and Household Balance Sheets
    Geng Li and Paul A. Smith
    National Tax Journal (2010)
  • Pension Risk and Household Saving over the Life Cycle
    David A. Love and Paul A. Smith
    Pension Fund Risk Management: Financial and Actuarial Modeling (2010)
    https://doi.org/10.1201/9781439817544-c21
  • New Evidence on 401(k) Borrowing and Household Balance Sheets
    Geng Li and Paul A. Smith
    Finance and Economics Discussion Series (2009)
    https://doi.org/10.17016/FEDS.2009.19
  • The Trajectory of Wealth in Retirement
    David A. Love, Michael G. Palumbo, and Paul A. Smith
    Journal of Public Economics (2009)
    https://doi.org/10.1016/j.jpubeco.2008.09.003
    See also » FRB Working Paper (2008)
  • A New Look at the Wealth Adequacy of Older U.S. Households
    David A. Love, Paul A. Smith, and Lucy C. McNair
    Review of Income and Wealth (2008)
    https://doi.org/10.1111/j.1475-4991.2008.00292.x
    See also » FRB Working Paper (2008)
  • Borrowing From Yourself: 401(k) Loans and Household Balance Sheets
    Geng Li and Paul A. Smith
    Finance and Economics Discussion Series (2008)
    https://doi.org/10.17016/FEDS.2008.42
  • Neighbors Matter: Causal Community Effects and Stock Market Participation
    Jeffrey R. Brown, Zoran Ivkovich, Paul A. Smith, and Scott Weisbenner
    Journal of Finance (2008)
    https://doi.org/10.1111/j.1540-6261.2008.01364.x
  • Do Households Have Enough Wealth for Retirement?
    David A. Love, Paul A. Smith, and Lucy C. McNair
    Finance and Economics Discussion Series (2007)
    https://doi.org/10.17016/FEDS.2007.17
  • Measuring Dissaving Out of Retirement Wealth
    David A. Love and Paul A. Smith
    Proceedings of the Annual Conference on Taxation (2007)
  • Why Do Firms Offer Risky Defined-Benefit Pension Plans?
    David Love, Paul A. Smith, and David Wilcox
    National Tax Journal (2007)
    https://doi.org/10.17310/ntj.2007.3.10
    See also » FRB Working Paper (2007)
  • Cracking Open the Nest Egg: IRA Withdrawals and Retirement Finance
    Andrew Bershadker and Paul A. Smith
    Proceedings of the Annual Conference on Taxation (2006)
  • Taxable Capital Income and Lifetime Savings Accounts
    Peter J. Brady and Paul A. Smith
    Proceedings of Ninety-seventh Annual Conference on Taxation (2005)
  • Social Security at 70: Principles, Issues and Alternatives
    Julia Lynn Coronado and Paul A. Smith
    National Tax Journal (2005)
    https://doi.org/10.17310/ntj.2005.3.13
  • The Geography of Stock Market Participation: The Influence of Communities and Local Firms
    Jeffrey R. Brown, Zoran Ivkovich, Paul A. Smith, and Scott Weisbenner
    Finance and Economics Discussion Series (2004)
    https://doi.org/10.17016/FEDS.2004.22
  • What Explains Early Withdrawals from Retirement Accounts? Evidence from a Panel of Taxpayers
    Gene Amromin and Paul Smith
    National Tax Journal (2003)
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Last Update: December 1, 2023