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Photo of Claudia R. Sahm

Claudia R. Sahm

Principal Economist

Household and Business Spending Section

Research and Statistics

(on leave to Council of Economic Advisers)

202-452-2291
claudia.r.sahm@frb.gov
Education
  • Ph.D., Economics, University of Michigan, 2007
  • B.A., Economics, Political Science, German, Denison University, 1998
  • Current Research Topics

  • Household Response to Fiscal Stimulus
  • Consumer Sentiment and Expectations
    • Senior Economist

      Council of Economic Advisers

    • 2015 - present
    • Principal Economist

      Board of Governors of the Federal Reserve System

    • 2015 - present
    • Senior Economist

      Board of Governors of the Federal Reserve System

    • 2013 - 2015
    • Economist

      Board of Governors of the Federal Reserve System

    • 2007 - 2013
    • Research Assistant

      Brookings Institution

    • 1999 - 2001
  • Sahm, Claudia R., Matthew D. Shapiro, and Joel Slemrod (2015). "Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration," Finance and Economics Discussion Series 2015-037. Washington: Board of Governors of the Federal Reserve System.
  • Gilbert, Charles, Norman Mori, Andrew D. Paciorek, and Claudia R. Sahm (2015). "Residual Seasonality in GDP," FEDS Notes 2015-05-14. Board of Governors of the Federal Reserve System (U.S.).
  • Aladangady, Aditya, and Claudia R. Sahm (2015). "Do Lower Gasoline Prices Boost Confidence?," FEDS Notes 2015-03-06. Board of Governors of the Federal Reserve System (U.S.)
  • Sahm, Claudia R. (2015). "Forecasts of Economic Activity in the Great Recession," FEDS Notes 2015-05-01. Board of Governors of the Federal Reserve System (U.S.).
  • Sahm, Claudia R. (2014). "Deleveraging: Is it Over and what was it?" FEDS Notes 2014-06-24. Board of Governors of the Federal Reserve System (U.S.).
  • Sahm, Claudia R. (2013). "How Much does Risk Tolerance Change?" Quarterly Journal of Finance, Vol. 2, no. 4.
  • Sahm, Claudia R. (2013). "Why have Americans' Income Expectations Declined so Sharply?" FEDS Notes 2013-09-26. Board of Governors of the Federal Reserve System (U.S.).
  • Sahm, Claudia R., Matthew D. Shapiro, and Joel Slemrod (2012). "Check in the Mail or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on how it is Delivered?" American Economic Journal: Economic Policy, vol. 4, no. 3, pp. 216-250.
  • Sahm, Claudia R., Matthew D. Shapiro, and Joel Slemrod (2010). "Check in the Mail Or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on how it is Delivered?" Finance and Economics Discussion Series 2010-40. Board of Governors of the Federal Reserve System (U.S.).
  • Sahm, Claudia R., Matthew D. Shapiro, and Joel Slemrod (2010). "Household Response to the 2008 Tax Rebates: Survey Evidence and Aggregate Implications," in Brown, Jeffrey R. ed., Tax Policy and the Economy, Vol. 24. National Bureau of Economic Research, pp. 69-110.
  • Kimball, Miles S., Claudia R. Sahm, and Matthew D. Shapiro (2009). "Imputing Risk Tolerance from Survey Responses," Journal of the American Statistical Association, vol. 103, no. 486, pp. 1028-1038.
  • Sahm, Claudia R., Matthew D. Shapiro, and Joel Slemrod (2009). "Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications," Finance and Economics Discussion Series 2009-45. Board of Governors of the Federal Reserve System (U.S.).
  • Kimball, Miles S., Claudia R. Sahm, and Matthew D. Shapiro (2009). "Risk Preferences in the PSID: Individual Imputations and Family Covariation," American Economic Review, vol. 99, no. 2, pp. 363-368.
  • Sahm, Claudia R. (2007). "Stability of Risk Preference," Finance and Economics Discussion Series 2007-66. Board of Governors of the Federal Reserve System (U.S.).
  • Bosworth, Barry, Gary Burtless, and Claudia Sahm (2004). "Distributional Impact of Social Security Reform," in Onofri, Paolo ed., The Economics of an Ageing Population: Macroeconomic Issues. Cheltenham, U.K. and Northampton, Mass: Elgar, pp. 193-226.
  • seminar

    October 2015

    FDIC

    House Prices Don't Fall: Do Beliefs Affect Consumer Spending and Borrowing Cycles?

  • discussion

    September 2015

    Brookings Papers on Economic Activity

    Discussion of "Weather Adjusting Economic Data"

  • conference

    July 2015

    NBER Summer Institute

    House Prices Don't Fall: Do Beliefs Affect Consumer Spending and Borrowing Cycles?

  • conference

    January 2014

    American Economics Association Annual Meeting

    Do Household Balance Sheets Affect Stimulus Spending? Lessons from Changes in Payroll Taxes

  • seminar

    Fall 2013

    New York and Boston Federal Reserve Banks

    Do Household Balance Sheets Affect Stimulus Spendin? Lessons from Changes in Payroll Taxes

  • discussion

    March 2013

    New Directions in Consumption Research with PSID, Ann Arbor, MU

    Discussion of "Is A Household Debt Overhang Holding Consumption Back?" by Karen Dynan

  • conference

    December 2012

    Estimating the marginal propensity to consume, Center for American Progress, DC

    Data and Empirical Challenges in Estimating the MPC out of Stimulus

  • conference

    October 2010

    BCL/ECB Conference on Household Finance and Consumption

    Check in the Mail or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on How It Is Delivered?

  • conference

    July 2010

    NBER Summer Institute

    Check in the Mail or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on How It Is Delivered?

  • conference

    May 2010

    Federal Reserve Bank of Boston, Applied Micro System Conference

    Check in the Mail or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on How It Is Delivered?

  • conference

    January 2009

    American Economics Association Annual Meeting

    Risk Preferences in the PSID: Individual Imputations and Family Covariation

  • conference

    September 2008

    Conference on Understanding Economic Decision-Making, Jackson Hole, Wyoming

    Cognition and Intertemporal Choice

  • conference

    October 2007

    Measurement and Experimentation with Internet Panels, The Netherlands

    Measuring Time Preference and the Elasticity of Intertemporal Substitution with Web Surveys

Awards

  • 2006

    Institute for Social Research

    Innovation in Social Research Award

  • 2002

    National Institute on Aging

    NIA Pre-doctoral Training Fellowship

  • 1998

    Fulbright Association

    Fulbright Research Grant in Economics, Germany

Conference Organization

  • May 2010 Board of Governors of the Federal Reserve System

    Household Responses to Recent Fiscal Stimulus

    Organizer

Referee

  • American Economic Review
  • Quarterly Journal of Economics
  • American Economic Review
  • Review of Economics and Statistics
  • AEJ: Economic Policy
  • Journal of Risk and Uncertainty
  • Review of Income and Wealth

Professional Affiliation

  • Research advisory board, Washington Center for Equitable Growth
  • American Economic Association
  • Committee on the Status of Women in the Economics Profession (CSWEP)
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Last update: September 8, 2016