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John Sabelhaus

Assistant Director

Program Direction Section

Research and Statistics

202-912-7910
john.sabelhaus@frb.gov
Education
  • Ph.D., Economics, University of Maryland, 1988
  • M.A., Economics, University of Maryland, 1984
  • B.A., Economics, University of Maryland, 1982
  • Current Research Topics

  • Household Income, Expenditure, and Wealth Surveys
  • Lifecycle Consumption and Labor Supply
    • Economist

      Board of Governors of the Federal Reserve System

    • 2011 - present
    • Senior Economist

      Investment Company Institute

    • 2007 - 2010
    • Unit Chief, Long-Term Modeling

      Congressional Budget Office

    • 2000 - 2007
    • Adjunct

      University of Maryland

    • 1999 - present
  • Devlin-Foltz, Sebastian, Alice Henriques, and John Sabelhaus (forthcoming). "Is the U.S. Retirement System Contributing to Rising Wealth Inequality?" The Russell Sage Foundation Journal of the Social Sciences.
  • Moore, Kevin B., Sarah J. Pack, and John Sabelhaus (forthcoming). "Taxing Incomes of Top Wealth Holders," National Tax Journal.
  • Bricker, Jesse, Alice Henriques, Jacob Krimmel, and John Sabelhaus (2016). "Estimating Top Income and Wealth Shares: Sensitivity to Data and Methods," American Economic Review: Papers and Proceedings, vol. 106, no. 5, pp. 641-645.
  • Bricker, Jesse, Alice Henriques, Jacob Krimmel, and John Sabelhaus (2016). "Measuring Income and Wealth at the Top Using Administrative and Survey Data," Brookings Papers on Economic Activity, Spring, pp. 261-321.
  • Devlin-Foltz, Sebastian, Alice M. Henriques, and John E. Sabelhaus (2016). "Has Tax-Preferred Retirement Saving Offset Rising Wealth Concentration?" FEDS Notes 2016-07-29. Board of Governors of the Federal Reserve System (U.S.).
  • Devlin-Foltz, Sebastian, Alice M. Henriques, and John E. Sabelhaus (2016). "The Role of Social Security in Overall Retirement Resources: A Distributional Perspective," FEDS Notes 2016-07-29. Board of Governors of the Federal Reserve System (U.S).
  • Devlin-Foltz, Sebastian, and John Sabelhaus (2016). "Heterogeneity in Economic Shocks and Household Spending in the US," Fiscal Studies, vol. 37, no. 1, pp. 153-192.
  • Argento, Robert, Victoria L. Bryant, and John Sabelhaus (2015). "Early Withdrawals from Retirement Accounts during the Great Recession," Contemporary Economic Policy, vol. 33, no. 1, pp. 1-16.
  • Bricker, Jesse, Alice Henriques, Jacob Krimmel, and John Sabelhaus (2015). "The Increase in Wealth Concentration, 1989-2013," FEDS Notes 2015-06-05. Board of Governors of the Federal Reserve System (U.S.).
  • Bricker, Jesse, Alice M. Henriques, Jacob Krimmel, and John Edward Sabelhaus (2015). "Measuring Income and Wealth at the Top Using Administrative and Survey Data," Finance and Economics Discussion Series 2015-030. Washington: Board of Governors of the Federal Reserve System.
  • Carroll, Christopher D., Thomas F. Crossley, and John Sabelhaus (2015). "Improving the Measurement of Consumer Expenditures," National Bureau of Economic Research, Studies in Income and Wealth. Chicago: University of Chicago Press.
  • Devlin-Foltz, Sebastian, Alice M. Henriques, and John Edward Sabelhaus (2015). "The Evolution of Retirement Wealth," Finance and Economics Discussion Series 2015-009. Washington: Board of Governors of the Federal Reserve System.
  • Devlin-Foltz, Sebastian J., and John Edward Sabelhaus (2015). "Heterogeneity in Economic Shocks and Household Spending," Finance and Economics Discussion Series 2015-049. Washington: Board of Governors of the Federal Reserve System
  • Sabelhaus, John, David Johnson, Stephen Ash, David Swanson, Thesia I. Garner, John Greenlees, and Steve Henderson (2015). "Is the Consumer Expenditure Survey Representative by Income?," in Christopher D. Carroll, Thomas F. Crossley, and John Sabelhaus, eds., Improving the Measurement of Consumer Expenditures, National Bureau of Economic Research Studies in Income and Wealth. Chicago: University of Chicago Press.
  • Bricker, Jesse, Lisa J. Dettling, Alice Henriques, Joanne W. Hsu, Kevin B. Moore, John Sabelhaus, Jeffrey Thompson, and Richard A. Windle (2014). "Changes in U.S. Family Finances from 2010 to 2013: Evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Vol. 100, no. 4.
  • Argento, Robert, Victoria L. Bryant, and John Edward Sabelhaus (2013). "Early Withdrawals from Retirement Accounts during the Great Recession," Finance and Economics Discussion Series 2013-22. Board of Governors of the Federal Reserve System (U.S.).
  • Krimmel, Jacob, Kevin B. Moore, John Sabelhaus, and Paul Smith (2013). "The Current State of U.S. Household Balance Sheets," Federal Reserve Bank of St. Louis Review, vol. 95, no. 5, pp. 337-359.
  • Ackerman, Samuel, and John Edward Sabelhaus (2012). "The Effect of Self-Reported Transitory Income Shocks on Household Spending," Finance and Economics Discussion Series 2012-64. Board of Governors of the Federal Reserve System (U.S.).
  • Bricker, Jesse, Arthur B. Kennickell, Kevin B. Moore, and John Sabelhaus (2012). "Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, vol. 98.
  • Sabelhaus, John Edward, David Johnson, Stephen Ash, Thesia Garner, John Shearer Greenlees, Steve Henderson, and David Swanson (2012). "Is the Consumer Expenditure Survey Representative by Income?" Finance and Economics Discussion Series 2012-36. Board of Governors of the Federal Reserve System (U.S.).
  • Clark, Robert L., Lee A. Craig, and John Edward Sabelhaus (2011). "State and Local Retirement Plans in the United States," Cheltenham, UK; Northampton, MA: Edward Elgar
  • Madrian, Brigitte, Janet Barr, John Bongaarts, Mark Duggan, Melissa Favreault, Tim Marnell, S. Philip Morgan, Andrew Samwick, John Sabelhaus and Karen A. Woodrow-Lafield (2011). Report of the 2011 Social Security Advisory Board Technical Panel on Assumptions and Methods, Washington, DC: Social Security Advisory Board.
  • Bass, Steven, John Sabelhaus, and Dan Schrass (2010). "Characteristics of Mutual Fund Investors," ICI Research Fundamental, vol. 19, no. 7. Washington, DC: Investment Company Institute
  • Bass, Steven, John Sabelhaus, and Dan Schrass (2010). "Ownership of Mutual Funds, Shareholder Sentiment and Use of the Internet," ICI Research Fundamental, vol. 19, no. 6. Washington, DC: Investment Company Institute
  • Bass, Steven, John Sabelhaus, and Sarah Holden (2010). The IRA Investor Profile: Traditional IRA Investors' Contribution Activity, 2007 and 2008, Washington, DC: Investment Company Institute.
  • Bass, Steven, John Sabelhaus, and Sarah Holden (2010). The IRA Investor Profile: Traditional IRA Investors' Rollover Activity, 2007 and 2008, Washington, DC: Investment Company Institute.
  • Bryant, Victoria L., Sarah Holden, and John Sabelhaus (2010). "Qualified Retirement Plans: Analysis of Distribution and Rollover Activity," 103rd Annual Conference Proceedings, National Tax Association, pp. 81-90.
  • Sabelhaus, John (2010). "Characteristics of Mutual Fund Owners," in Investment Company Institute Fact Book, Washington, DC: Investment Company Institute.
  • Sabelhaus, John, and Jae Song (2010). "The Great Moderation in Micro Labor Earnings," Journal of Monetary Economics, vol. 57, no. 4, pp. 391-403.
  • Sabelhaus, John, Sarah Holden, and Brian Reid (2010). 401(k) Investors Activities and Sentiment. Washington, DC: Investment Company Institute.
  • Bass, Steven, John Sabelhaus, and Dan Schrass (2009). "Characteristics of Mutual Fund Investors," ICI Research Fundamental, vol. 18, no. 8. Washington, DC: Investment Company Institute
  • Bass, Steven, John Sabelhaus, and Dan Schrass (2009). "Ownership of Mutual Funds, Shareholder Sentiment and Use of the Internet," ICI Research Fundamental, vol. 18, no. 7. Washington, DC: Investment Company Institute
  • Clark, Robert L., and John Sabelhaus (2009). "How Will the Stock Market Crash Affect the Choice of Pension Plans?" National Tax Journal, vol. 62, no. 3, pp. 477-496.
  • Sabelhaus, John (2009). "Characteristics of Mutual Fund Owners," in Investment Company Institute Fact Book, Washington, DC: Investment Company Institute.
  • Sabelhaus, John, and Dan Schrass (2009). "The Evolving Role of IRAs in U.S. Retirement Planning," ICI Research Perspective.
  • Sabelhaus, John, and Jae Song (2009). "Earnings Volatility Across Groups and Time," National Tax Journal, vol. 62, no. 2, pp. 347-364.
  • Sabelhaus, John and Lina Walker (2009). "Econometric Flexibility in Microsimulation: An Age-Centered Regression Approach," International Journal of Microsimulation, vol. 2, no. 2, pp. 1-14.
  • Bass, Steven, John Sabelhaus, and Dan Schrass (2008). "Characteristics of Mutual Fund Investors," ICI Research Fundamental, vol. 18, no. 2. Washington, DC: Investment Company Institute
  • Bass, Steven, John Sabelhaus, and Dan Schrass (2008). "Ownership of Mutual Funds, Shareholder Sentiment and Use of the Internet," ICI Research Fundamental, vol. 17, no. 6. Washington, DC: Investment Company Institute
  • Bogdan, Mike, John Sabelhaus, and Dan Schrass (2008). Equity and Bond Ownership in America, 2008, Washington, DC: Investment Company Institute
  • Bogdan, Mike, Sarah Holding, and John Sabelhaus (2008). Defined Contribution Plan Distribution Decisions at Retirement, Washington, DC: Investment Company Institute
  • Sabelhaus, John (2008). "Characteristics of Mutual Fund Owners," in Investment Company Institute Fact Book, Washington, DC: Investment Company Institute.
  • Sabelhaus, John (2008). Investor Views on the U.S. Securities and Exchange Commission Proposed Summary Prospectus, Washington, DC: Investment Company Institute
  • Sabelhaus, John (2007). "Introduction to Long-Term Modeling at the Congressional Budget Office," Congressional Budget Office.
  • Sabelhaus, John (2007). "What is the Effective Social Security Tax on Additional Years of Work?" National Tax Journal, vol. 60, no. 3, pp. 491-506.
  • Sabelhaus, John, and Julie Topoleski (2007). "Uncertain Policy for an Uncertain World: The Case of Social Security," Journal of Policy Analysis and Management, vol. 26, no. 3, pp. 507-525.
  • Harris, Amy, John Sabelhaus, and Jonathan Schwabish (2006). "Projecting Labor Force and Earnings in CBO's Long-Term Microsimulation Model," Background paper (United States. Congressional Budget Office).
  • Meyerson, Noah and John Sabelhaus (2006). "Is Social Security Progressive?" Economic and Budget Issue Brief, Congressional Budget Office.
  • Sabelhaus, John (2006). "Are Successive Generations Getting Wealthier, and if so, Why? Evidence from the 1990s: Comment," Brookings Papers on Economic Activity, no. 1, pp. 220-225.
  • Harris, Amy Rehder and John Sabelhaus (2005). "How Does Differential Mortality Affect Social Security Finances and Progressivity?" Working paper series, 2005-05, Congressional Budget Office.
  • Harris, Amy Rehder, John Edward Sabelhaus, and Michael Simpson (2005). "Social Security Benefit Uncertainty under Individual Accounts," Contemporary Economic Policy, vol. 23, no. 1, pp. 1-16.
  • Harris, Amy Rehder, John Sabelhaus, Almudena Sevilla Sanz (2005). "Behavioral Effects of Social Security Reform in a Dynamic Micro-Simulation with Life-Cycle Agents," Working paper series, 2005-06, Congressional Budget Office.
  • Sabelhaus, John (2005). "Alternative Methods for Projecting Equity Returns: Implications for Evaluating Social Security Reform Proposals," Risk Management and Insurance Review, vol. 8, no. 1, pp. 43-63.
  • O'Harra, Josh, John Sabelhaus, and Michael Simpson (2004). "Overview of the Congressional Budget Office Long-Term (CBOLT) Policy Simulation Model," Technical paper series, 2004-01, Congressional Budget Office.
  • Sabelhaus, John, Michael Simpson, and Julie Topoleski (2004). "Incorporating Longevity Effects Into Long-Run Medicare Projections," Technical paper series, 2004-02, Congressional Budget Office.
  • Harris, Amy and John Sabelhaus (2003). "Projecting Longitudinal Earnings Patterns for Long-Run Policy Analysis," Technical paper series, 2003-02, Congressional Budget Office.
  • O'Harra, Josh and John Sabelhaus (2002). "Projecting Longitudinal Marriage Patterns for Long-Run Policy Analysis," Technical paper series, 2002-02, Congressional Budget Office.
  • Gokhale, Jagadeesh, Laurence J. Kotlikoff, and John Sabelhaus (2001). "Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis," in Kotlikoff, Laurence, J. ed., Essays on Saving, Bequests, Altruism, and Life-Cycle Planning. Cambridge and London: MIT Press, pp. 17-92.
  • Meyerson, Noah, John Sabelhaus, and Joel Smith (2001). "Uncertainty in Social Security's Long-Term Finances: A Stochastic Analysis," CBO papers.
  • Meyerson, Noah, and John Sabelhaus (2000). "Uncertainty in Social Security Trust Fund Projections," National Tax Journal, vol. 53, no. 3, pp. 515-529.
  • Sabelhaus, John (2000). "Modeling IRA Accumulation and Withdrawals," National Tax Journal, vol. 53, no. 4, pp. 865-875.
  • Sabelhaus, John, and Jeffrey A. Groen (2000). "Can Permanent-Income Theory Explain Cross-Sectional Consumption Patterns?" Review of Economics and Statistics, vol. 82, no. 3, pp. 431-438.
  • Gale, William G., and John Sabelhaus (1999). "Perspectives on the Household Saving Rate," Brookings Papers on Economic Activity, no. 1, pp. 181-214.
  • Sabelhaus, John (1999). "Projecting IRA Balances and Withdrawals," EBRI Notes, vol. 20, no. 5, pp. 1-3. Washington, D.C.: Employee Benefits Research Institute.
  • Sabelhaus, John, and David Weiner (1999). "Disposition of Lump-Sum Pension Distributions: Evidence from Tax Returns," National Tax Journal, vol. 52, no. 3, pp. 593-613.
  • Sabelhaus, John, and Karen Pence (1999). "Household Saving in the '90s: Evidence from Cross-Section Wealth Surveys," Review of Income and Wealth, vol. 45, no. 4, pp. 435-453.
  • Sabelhaus, John and William G. Gale (1999). "The Saving Crisis: In the Eye of the Beholder?" The Milken Institute Review, vol. 1, no. 3, pp. 46-56.
  • Gale, William G., Evan Koenig, Diane Lim Rogers, and John Sabelhaus (1998). "Taxing Government in a National Retail Sales Tax," Tax Notes, vol. 81, no. 1, pp. 97-109.
  • Sabelhaus, John (1997). "Comparing Income and Consumption Tax Bases," CBO papers.
  • Sabelhaus, John (1997). "Public Policy and Saving in the United States and Canada," Canadian Journal of Economics, vol. 30, no. 2, pp. 253-275.
  • Sabelhaus, John, and Ulrike Schneider (1997). "Measuring the Distribution of Well-being: Why Income and Consumption Give Different Answers," Konjunkturpolitik, vol. 43, no. 2, pp. 153-176.
  • Gokhale, Jagadeesh, Laurence J. Kotlikoff, and John Sabelhaus (1996). "Understanding the Postwar Decline in U. S. Saving: A Cohort Analysis," Brookings Papers on Economic Activity, no. 1, pp. 315-90.
  • Gokhale, Jagadeesh, Laurence J. Kotlikoff, and John Sabelhaus (1996). "Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis," NBER Working Papers 5571. National Bureau of Economic Research, Inc.
  • Acs, Gregory, and John Sabelhaus (1995). "Trends in Out-of-Pocket Spending on Health Care, 1980-92," Monthly Labor Review, vol. 118, no. 12, pp. 35-45.
  • Auerbach, Alan J., Jagadeesh Gokhale, Laurence J. Kotlikoff, John Sabelhaus, and David N. Weil (1995). "The Annuitization of Americans' Resources: A Cohort Analysis," NBER Working Papers 5089. National Bureau of Economic Research, Inc.
  • Gokhale, Jagadeesh, Laurence J. Kotlikoff, and John Sabelhaus (1995). "Understanding the Postwar Decline in United States Saving: A Cohort Analysis," Working Paper 9518. Federal Reserve Bank of Cleveland.
  • Sabelhaus, John (1995). "How Does Pension Coverage Affect Household Saving?," in Richard Hinz, ed., Pensions, Saving, and Capital Markets, (Washington, D.C.: U.S. Department of Labor, Pension and Welfare Benefits Administration), pp. 47-68.
  • Sabelhaus, John, and Joyce Manchester (1995). "Baby Boomers and their Parents: How does their Economic Well-being Compare in Middle Age?" Journal of Human Resources, vol. 30, no. 4, pp. 791-806.
  • Auerbach, Alan J., Jagadeesh Gokhale, Laurence J. Kotlikoff, John Sabelhaus, and David N. Weil (1994). "The Annuitization of Americans' Resources: A Cohort Analysis," Working Paper 9413. Federal Reserve Bank of Cleveland.
  • Sabelhaus, John (1994). "Deficits and Other Intergenerational Transfers: Restoring the Missing Link," Challenge, vol. 37, no. 1, pp. 45-50.
  • Sabelhaus, John (1993). "What is the Distributional Burden of Taxing Consumption?" National Tax Journal, vol. 46, no. 3, pp. 331-344.
  • Bosworth, Barry, Gary Burtless, and John Sabelhaus (1991). "The Decline in Saving: Evidence from Household Surveys," Brookings Papers on Economic Activity, no. 1, pp. 183-241.
  • Sabelhaus, John (1990). "Testing Neoclassical Consumer Theory with Aggregate and Household Data," Applied Economics, vol. 22, no. 11, pp. 1471-1478.
  • Sabelhaus, John (1989). "Long-Run Fiscal Policy and Economic Growth," in The Economic and Budget Outlook, Washington DC: Congressional Budget Office
  • Bednarzik, Robert W., and John E. Sabelhaus (1987). "Job Creation and Losses in the U.S., 1973-1984: Low or High Wage Industries?" Economia e Lavoro, vol. 21, no. 2, pp. 125-133.
  • conference

    December 2011

    CRIW Conference on Consumer Expenditure Survey Redesign

    Is the Consumer Expenditure Survey Representative by Income?

  • conference

    January 2011

    American Economic Association Annual Meetings

    Improving the Measurement of Household-Level Spending and Income

  • conference

    November 2010

    National Tax Association Annual Meetings

    Qualified Retirement Plans: Analysis of Distribution and Rollover Activity

  • conference

    July 2010

    NBER Summer Institute

    The Great Moderation in Micro Labor Earnings

Awards

  • 2011

    Social Security Advisory Board

    Member, 2011 Technical Panel

  • 2006

    Contemporary Economic Policy

    Best Article

  • 2010

    University of Maryland

    Department Teaching Award

  • 2009

    University of Maryland

    Department Teaching Award

  • 2008

    University of Maryland

    Department Teaching Award

  • 2007

    University of Maryland

    Department Teaching Award

  • 2005

    University of Maryland

    Department Teaching Award

Conference Organization

  • December 2011 Washington, D.C.

    CRIW Consumer Expenditure Survey Redesign Conference

    Co-Organizer

Referee

  • American Economic Review
  • Applied Economics
  • Brookings Papers on Economic Activity
  • Contemporary Economic Policy
  • Eastern Economic Journal
  • Fiscal Studies
  • International Journal of Microsimulation
  • Journal of Macroeconomics
  • Journal of Money, Credit, and Banking
  • Journal of Policy Analysis and Management
  • Journal of Public Economic
  • National Tax Journal
  • Review of Economic Studies
  • Review of Income and Wealth

Professional Affiliation

  • American Economic Association
  • Conference on Research in Income and Wealth
  • Michigan Retirement Research Center, Board of Outside Scholars
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Last update: November 7, 2016