Professional Experience

• • Economist

    Board of Governors of the Federal Reserve System

  • 1999 - present

• • Assistant Professor and Associate Professor

    Department of Economics, University of Houston

  • 1991 - 2000

Publications

• Cooper, Daniel H., Byron F. Lutz, and Michael G. Palumbo (2012). "Quantifying the Role of Federal and State Taxes in Mitigating Wage Inequality," Finance and Economics Discussion Series 2012-05. Board of Governors of the Federal Reserve System.
• Cooper, Daniel H., Byron Lutz, and Michael G. Palumbo (2011). "Quantifying the Role of Federal and State Taxes in Mitigating Income Inquality," Public Policy Discussion Paper Series 2011-7. Federal Reserve Bank of Boston.
• Eichner, Matthew J., Donald L. Kohn, and Michael G. Palumbo (2010). "Financial Statistics for the United States and the Crisis: What did they Get Right, what did they Miss, and how should they Change?" Finance and Economics Discussion Series 2010-20. Board of Governors of the Federal Reserve System (U.S.).
• Moore, Kevin B., and Michael G. Palumbo (2010). "The Finances of American Households in the Past Three Recessions: Evidence from the Survey of Consumer Finances," Finance and Economics Discussion Series 2010-06. Board of Governors of the Federal Reserve System (U.S.).
• 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.
• Dynan, Karen E., Wendy Edelberg, and Michael G. Palumbo (2009). "The Effects of Population Aging on the Relationship among Aggregate Consumption, Saving, and Income," American Economic Review, vol. 99, no. 2, pp. 380-386.
• Palumbo, Michael G., and Jonathan A. Parker (2009). "The Integrated Financial and Real System of National Accounts for the United States: Does it Presage the Financial Crisis?" American Economic Review, vol. 99, no. 2, pp. 80-86.
• Palumbo, Michael G., and Jonathan A. Parker (2009). "The Integrated Financial and Real System of National Accounts for the United States: Does it Presage the Financial Crisis?" NBER Working Papers 14663. National Bureau of Economic Research, Inc.
• Davis, Morris A., and Michael G. Palumbo (2008). "The Price of Residential Land in Large US Cities," Journal of Urban Economics, vol. 63, no. 1, pp. 352-384.
• James, John A., Michael G. Palumbo, and Mark Thomas (2007). "Consumption Smoothing among Working-Class American Families before Social Insurance," Oxford Economic Papers, vol. 59, no. 4, pp. 606-640.
• Palumbo, Michael, Jeremy Rudd, and Karl Whelan (2006). "On the Relationships between Real Consumption, Income, and Wealth," Journal of Business and Economic Statistics, vol. 24, no. 1, pp. 1-11.
• James, John A., Michael G. Palumbo, and Mark Thomas (2005). "Have American Workers always been Low Savers? Patterns of Accumulation among Working Households, 1885-1910," in Field, Alexander,J. ed., Research in Economic History, Vol 23. San Diego and Amsterdam: Elsevier, pp. 127-175.
• Antoniewicz, Rochelle, Susan Hume McIntosh, Charles Ian Mead, Karin Moses, Brent Moulton, Michael Palumbo, Genevieve Solomon, and Albert M. Teplin (2004). "Integrated Macroeconomic Accounts for the United States: Draft SNA-USA," Finance and Economics Discussion Series 2004-54. Board of Governors of the Federal Reserve System (U.S.).
• Ballinger, T. Parker, Michael G. Palumbo, and Nathaniel T. Wilcox (2003). "Precautionary Saving and Social Learning Across Generations: An Experiment," Economic Journal, vol. 113, no. 490, pp. 920-947.
• Mieszkowski, Peter, and Michael G. Palumbo (2002). "Distributive Analysis of Fundamental Tax Reform," in Zodrow, George,R., Mieszkowski Peter eds., United States Tax Reform in the Twenty-First Century. Cambridge; New York and Melbourne: Cambridge University Press, pp. 140-178.
• Maki, Dean M., and Michael G. Palumbo (2001). "Disentangling the Wealth Effect: A Cohort Analysis of Household Saving in the 1990s," Finance and Economics Discussion Series 2001-21. Board of Governors of the Federal Reserve System (U.S.).
• Davis, Morris A., and Michael G. Palumbo (2001). "A Primer on the Economics and Time Series Econometrics of Wealth Effects," Finance and Economics Discussion Series 2001-09. Board of Governors of the Federal Reserve System (U.S.).
• Palumbo, Michael G. (2000). "Estimating the Effects of Earnings Uncertainty on Families' Saving and Insurance Decisions," Southern Economic Journal, vol. 67, no. 1, pp. 64-86.
• Palumbo, Michael G. (1999). "Uncertain Medical Expenses and Precautionary Saving Near the End of the Life Cycle," Review of Economic Studies, vol. 66, no. 2, pp. 395-421.
• Craig, Steven G., and Michael G. Palumbo (1999). "Policy Interaction in the Provision of Unemployment Insurance and Low-Income Assistance by State Governments," Journal of Regional Science, vol. 39, no. 2, pp. 245-274.
• Thomas, Mark, John A. James, and Michael G. Palumbo (1999). "Retirement Saving before Social Security," In Proceedings of the Ninety-First Annual Conference on Taxation, Austin, Texas, November 8-10, 1998 and Minutes of the Annual Meeting of the National Tax Association, November 8, 1998. National Tax Association, pp. 361-370.
• Lavy, Victor, Michael Palumbo, and Steven Stern (1998). "Simulation of Multinomial Probit Probabilities and Imputation of Missing Data," in Fomby, Thomas,B., R. Hill Carter eds., Messy Data--Missing Observations, Outliers, and Mixed-Frequency Data. Conn. and London: JAI Press, pp. 145-179.
• Glomm, Gerhard, and Michael G. Palumbo (1993). "Optimal Intertemporal Consumption Decisions Under the Threat of Starvation," Journal of Development Economics, vol. 42, no. 2, pp. 271-291.

Presentations

• conference

  March 2011

  Conference on "Household Portfolio Choice and Investment Decisions," The Wharton School of the University of Pennsylvania

  A Perspective on Housing and Mortgage Markets in the U.S. Five Years after the Peak

• conference

  November 2010

  Annual Research Conference of the National Tax Association, Denver, Colorado

  Quantifying the Role of Federal and State Taxes in Mitigating Income Inequality

• conference

  November 2010

  Conference on Research in Income and Wealth, "Wealth, Financial Intermediation, and the Real Economy," Washington, DC

  Financial Statistics for the United States and the Crisis: What Did They Get Right, What Did They Miss, and How Should They Change?

• conference

  October 2010

  5th European Central Bank Conference on Statistics, "Central Bank Statistics: What Did the Financial Crisis Change?" Frankfurt, Germany

  Financial Statistics for the United States and the Crisis: What Did They Get Right, What Did They Miss, and How Should They Change?

• conference

  April 2010

  Annual Research Conference of the Royal Economic Society, Surry, England

  The Finances of American Households in the Past Three Recessions: Evidence from the Survey of Consumer Finances

• seminar

  March 2010

  Institute for Fiscal Studies, London, England

  Understanding the Distribution of Wealth at Retirement: Is It What Folks Earned or What They Did with It?

• conference

  October 2009

  Conference on "Household Finance and Macroeconomics," Banco de Espana, Madrid, Spain

  The Finances of American Households in the Past Three Recessions: Evidence from the Survey of Consumer Finances

• conference

  March 2009

  Conference on "Housing, Debt, and Financial Market Expectations," Judge School of Business at the University of Cambridge, Cambridge, England

  Home Prices and the Supply of Mortgage Credit: Feedback in the U.S. Housing Market Boom and Bust

• conference

  February 2009

  2nd IMF Roundtable Meeting to Enhance Collaboration on Financial Stability Analysis, Bank for International Settlements, Basel, Switzerland

  A Case Study of Financial Stability Analysis and Policy Reform: The Run on U.S. Money Market Funds in September 2008

• conference

  January 2009

  Annual Research Conference of the American Economic Association, San Francisco, CA

  The Effects of Population Aging on the Relationship among Aggregate Consumption, Saving, and Income

• conference

  January 2009

  Annual Research Conference of the American Economic Association, San Francisco, CA

  The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?

Other Activities