Research Staff and Resources
Research and Statistics Staff | Household and Real Estate Finance Section
Karen M. Pence
Senior Economist
Household and Real Estate Finance Section
Division of Research and Statistics
Contact Information
202-452-2342
karen.pence@frb.gov
Fields of Interest
Public Economics
Econometrics and Statistics
Consumer Finance
Education
Ph.D., Economics, University of Wisconsin-Madison, 2001
M.S., Economics, University of Wisconsin-Madison, 1998
B.A., Economics, Swarthmore College, 1992
Professional Experience
Board of Governors of the Federal Reserve System, 2001-present
Selected Publications
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''The Rise in Mortgage Defaults''
(with Chris Mayer and Shane Sherlund),
Journal of Economic Perspectives, vol. 23
(Winter 2009).
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''Do Borrowers Know their Mortgage Terms?''
(with Brian K. Bucks),
Journal of Urban Economics, vol. 64
(September 2008), pp. 218-33.
-
Subprime Mortgages: What, Where, and to Whom?
(with Chris Mayer),
Finance and Economics Discussion Series 2008-29. Washington: Board of Governors of the Federal Reserve System, 2008.
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''Foreclosing on Opportunity: State Laws and Mortgage Credit,''
Review of Economics and Statistics, vol. 88
(February 2006), pp. 177-182.
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''Are Successive Generations Getting Wealthier, and If So, Why? Evidence from the 1990s''
(with William G. Gale),
Brookings Papers on Economic Activity, vol. 2006
(Spring 2006), pp. 155-234.
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''The Role of Wealth Transformations: An Application to Estimating the Effect of Tax Incentives on Saving,''
Contributions to Economic Analysis and Policy, vol. 5
(2006).
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''Do Youth Nonmarital Chidlbearing Choices Reflect Income and Relationship Expectations?''
(with Barbara Wolfe, Robert Haveman, and Jonathan Schwabish),
Journal of Population Economics, vol. 20
(2007), pp. 73-100.
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''Recent Changes to a Measure of U.S. Household Debt Service''
(with Karen Dynan and Kathleen W. Johnson),
Federal Reserve Bulletin,
vol. 89 (October 2003), pp. 417-426.
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''Nature or Nurture: Why Do 401(k) Participants Save Differently than Other Workers?''
National Tax Journal, vol. 55
(September 2002), pp. 597-616.
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401(k)s and Household Saving: New Evidence from the Survey of Consumer Finances,
Finance and Economics Discussion Series 2002-06. Washington: Board of Governors of the Federal Reserve System, 2002.
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''Intergenerational Effects of Nonmarital and Early Childbearing''
(with Barbara Wolfe and Robert Haveman), in
Lawrence Wu and Barbara Wolfe, eds.,
Out of Wedlock. New York: Russell Sage Foundation, 2001.
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''Household Saving in the '90s: Evidence from Cross-Section Wealth Surveys''
(with John Sabelhaus),
Review of Income and Wealth, vol. 45
(December 1999), pp. 435-53.
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