Professional Experience

• • Chief

    Board of Governors of the Federal Reserve System

  • 2011 - present

• • 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

Publications

• Love, David A., Paul A. Smith, and David W. Wilcox (2011). "The Effect of Regulation on Optimal Corporate Pension Risk," Journal of Financial Economics, vol. 101, no. 1, pp. 18-35.
• Li, Geng, and Paul A. Smith (2010). "401(k) Loans and Household Balance Sheets," National Tax Journal, vol. 63, no. 3, pp. 479-508.
• Love, David A., and Paul A. Smith (2010). "Does Health Affect Portfolio Choice?" Health economics, vol. 19, no. 12, pp. 1441-1460.
• Love, David A., and Paul A. Smith (2010). "Pension Risk and Household Saving Over the Life Cycle," in Marco Micocci, Greg N. Gregoriou, and Giovanni Batist Masala ed., Pension Fund Risk Management: Financial and Actuarial Modeling. Boca Raton, Florida: Chapman Hall.
• Love, David A., Michael G. Palumbo, and Paul A. Smith (2009). "The Trajectory of Wealth in Retirement," Journal of Public Economics, vol. 93, no. 1-2, pp. 191-208.
• Love, David A., Paul A. Smith, and David Wilcox (2009). "Should Risky Firms Offer Risk-Free DB Pensions?" Finance and Economics Discussion Series 2009-20. Board of Governors of the Federal Reserve System (U.S.).
• Li, Geng, and Paul A. Smith (2009). "New Evidence on 401(k) Borrowing and Household Balance Sheets," Finance and Economics Discussion Series 2009-19. Board of Governors of the Federal Reserve System (U.S.).
• Brown, Jeffrey R., Zoran Ivkovic, Paul A. Smith, and Scott Weisbenner (2008). "Neighbors Matter: Causal Community Effects and Stock Market Participation," Journal of Finance, vol. 63, no. 3, pp. 1509-1531.
• Love, David A., Paul A. Smith, and Lucy C. McNair (2008). "A New Look at the Wealth Adequacy of Older U.S. Households," Review of Income and Wealth, vol. 54, no. 4, pp. 616-642.
• Li, Geng, and Paul A. Smith (2008). "Borrowing from Yourself: 401(k) Loans and Household Balance Sheets," Finance and Economics Discussion Series 2008-42. Board of Governors of the Federal Reserve System (U.S.).
• Love, David, Paul A. Smith, and David Wilcox (2007). "Why do Firms Offer Risky Defined-Benefit Pension Plans?" National Tax Journal, vol. 60, no. 3, pp. 507-519.
• Love, David A., and Paul A. Smith (2007). "Measuring Dissaving Out of Retirement Wealth," In Proceedings of the Ninety-Ninth Annual Conference on Taxation. National Tax Association, pp. 102-113.
• Love, David A., Paul A. Smith, and Lucy C. McNair (2007). "Do Households have enough Wealth for Retirement?" Finance and Economics Discussion Series 2007-17. Board of Governors of the Federal Reserve System (U.S.).
• Bershadker, Andrew, and Paul A. Smith (2006). "Cracking Open the Nest Egg: IRA Withdrawals and Retirement Finance," in Diamond, John ed., Proceedings: Ninety-Eighth Annual Conference on Taxation, Miami, Florida, November 17-19, 2005, and Minutes of the Annual Meeting of the National Tax Association, Thursday, November 17, 2005. Washington, D.C: National Tax Association, pp. 73-83.
• Coronado, Julia Lynn, and Paul A. Smith (2005). "Social Security at 70: Principles, Issues and Alternatives," National Tax Journal, vol. 58, no. 3, pp. 505-522.
• Brady, Peter J., and Paul A. Smith (2005). "Taxable Capital Income and Lifetime Savings Accounts," In Proceedings of Ninety-Seventh Annual Conference on Taxation, Minneapolis, Minnesota, November 11-13, 2004, and Minutes of the Annual Meeting of the National Tax Association, Thursday, November 11, 2004. National Tax Association, pp. 459-467.
• Brown, Jeffrey R., Zoran Ivkovic, Paul A. Smith, and Scott Weisbenner (2004). "The Geography of Stock Market Participation: The Influence of Communities and Local Firms," Finance and Economics Discussion Series 2004-22. Board of Governors of the Federal Reserve System (U.S.).
• Amromin, Gene, and Paul Smith (2003). "What Explains Early Withdrawals from Retirement Accounts? Evidence from a Panel of Taxpayers," National Tax Journal, vol. 56, no. 3, pp. 595-612.

Other Activities