Research Staff and Resources
Research and Statistics Staff | Flow of Funds Section
Paul A. Smith
Senior Economist
Flow of Funds Section
Division of Research and Statistics
Contact Information
paul.a.smith@frb.gov
Fields of Interest
Consumption
Portfolio Choice
Health, Education, and Welfare
Education
Ph.D., Public Economics, University of Wisconsin - Madison, 1997
M.S., Public Economics, University of Wisconsin - Madison, 1993
B.A., Economics, University of Vermont, 1991
Professional Experience
Board of Governors of the Federal Reserve System, 2003-present
Financial Economist, U.S. Dept. of Treasury, 1997-2003
Selected Publications
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Borrowing from Yourself: 401(k) Loans and Household Balance Sheets
(with Geng Li),
Finance and Economics Discussion Series 2008-42. Washington: Board of Governors of the Federal Reserve System, 2008.
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''The Trajectory of Wealth in Retirement''
(with David Love and Michael Palumbo),
Journal of Public Economics (forthcoming).
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''A New Look at the Wealth Adequacy of Older U.S. Households''
(with David Love and Lucy McNair),
Review of Income and Wealth (forthcoming).
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''Neighbors Matter: Causal Community Effects and Stock Market Participation''
(with Jeffrey Brown, Zoran Ivkovich, and Scott Weissbenner),
Journal of Finance, vol. 63
(June 2008), pp. 1499-1522.
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The Trajectory of Wealth in Retirement
(with David Love and Michael Palumbo),
Finance and Economics Discussion Series 2008-13. Washington: Board of Governors of the Federal Reserve System, 2008.
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A New Look at the Wealth Adequacy of Older U.S. Households
(with David Love and Lucy McNair),
Finance and Economics Discussion Series 2008-20. Washington: Board of Governors of the Federal Reserve System, 2008.
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Does Health Affect Portfolio Choice?
(with David Love),
Finance and Economics Discussion Series 2007-45. Washington: Board of Governors of the Federal Reserve System, 2007.
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Why Do Firms Offer Risky Defined Benefit Pension Plans?
(with David Love and David Wilcox),
Finance and Economics Discussion Series 2007-36. Washington: Board of Governors of the Federal Reserve System, 2007.
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Do Households Have Enough Wealth for Retirement?
(with David Love and Lucy McNair),
Finance and Economics Discussion Series 2007-17. Washington: Board of Governors of the Federal Reserve System, 2007.
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''Measuring Dissaving out of Retirement Wealth''
(with David Love),
Proceedings of the Annual Conference on Taxation, vol. 99
(Winter 2007), pp. 102-113.
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''Cracking Open the Nest Egg: IRA Withdrawals and Retirement Finance''
(with Andrew Bershadker),
Proceedings of the Annual Conference on Taxation, vol. 98
(Winter 2006), pp. 73-83.
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''Taxable Capital Income and Lifetime Savings Accounts''
(with Peter J. Brady),
Proceedings of the Annual Conference on Taxation, vol. 97
(Winter 2005), pp. 459-467.
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''Social Security at 70: Principles, Issues, and Alternatives''
(with Julia L. Coronado),
National Tax Journal, vol. 58
(September 2005), pp. 505-22.
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The Geography of Stock Market Participation: The Influence of Communities and Local Firms
(with Jeffrey R. Brown, Zoran Ivkovic, and Scott Weisbenner),
Finance and Economics Discussion Series 2004-22. Washington: Board of Governors of the Federal Reserve System, 2004.
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''What Explains Early Withdrawals from Retirement Accounts? Evidence from a Panel of Taxpayers''
(with Gene Amromin),
National Tax Journal, vol. 56
(September 2003), pp. 595-612.
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