Professional Experience

• • Director, Division of Research and Statistics

    Board of Governors of the Federal Reserve System

  • 2011 - present

• • Deputy Director

    Board of Governors of the Federal Reserve System

  • 2001 - 2011

• • Assistant Secretary for Economic Policy

    Treasury Department

  • 1997 - 2001

• • Senior Economist

    Council of Economic Advisers

  • 1994 - 1995

• • Economist and Senior Economist

    Board of Governors of the Federal Reserve System

  • 1986 - 1997

• • Member, Board of Editors

    American Economic Review

  • 1994 - 1997

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.
• Brown, Jeffrey R., and David W. Wilcox (2009). "Discounting State and Local Pension Liabilities," American Economic Review, vol. 99, no. 2, pp. 538-542.
• Wilcox, David (2009). "Comment on 'Reducing the Risk of Investment-Based Social Security Reform,' by Martin Feldstein," in Brown, Jeffrey R., Jeffrey B. Liebman and David A. Wise eds., Social Security Policy in a Changing Environment. National Bureau of Economic Research, pp. 218-227.
• 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.
• Aksoy, Yunus, Athanasios Orphanides, David Small, Volker Wieland, and David Wilcox (2006). "A Quantitative Exploration of the Opportunistic Approach to Disinflation," Journal of Monetary Economics, vol. 53, no. 8, pp. 1877-1893.
• Wilcox, David W. (2006). "Reforming the Defined-Benefit Pension System," Brookings Papers on Economic Activity, no. 1, pp. 235-285.
• Wilcox, David (2005). "Comment on 'what Caused the Decline in U.S. Business Cycle Volatility?'," In Proceedings of the Changing Nature of the Business Cycle Conference on 11-12 July, 2005. Reserve Bank of Australia, pp. 107-113.
• Duggan, James E., and David W. Wilcox (2002). "Distributional Effects in a General Equilibrium Analysis of Social Security: Comment," in Feldstein, ,Martin, Jeffrey Liebman B. eds., The Distributional Aspects of Social Security and Social Security Reform. Chicago and London: University of Chicago Press, pp. 361-368.
• Elmendorf, Douglas W., Jeffrey B. Liebman, and David W. Wilcox (2002). "Fiscal Policy: Fiscal Policy and Social Security Policy during the 1990s," in Frankel, ,Jeffrey, Orszag Peter eds., American Economic Policy in the 1990s. Cambridge and London: MIT Press, pp. 61-119.
• Orphanides, Athanasios, and David W. Wilcox (2002). "The Opportunistic Approach to Disinflation," International Finance, vol. 5, no. 1, pp. 47-71.
• Shapiro, Irving, Matthew D. Shapiro, and David W. Wilcox (2001). "Measuring the Value of Cataract Surgery," in Cutler, David,M., Ernst Berndt R. eds., Medical Care Output and Productivity. Chicago and London: University of Chicago Press, pp. 411-437.
• Shapiro, Irving, Matthew D. Shapiro, and David W. Wilcox (1999). "Quality Improvement in Health Care: A Framework for Price and Output Measurement," American Economic Review, vol. 89, no. 2, pp. 333-337.
• Kusko, Andrea L., James M. Poterba, and David W. Wilcox (1998). "Employee Decisions with Respect to 401(k) Plans," in Mitchell, Olivia,S., Sylvester Schieber J. eds., Living with Defined Contribution Pensions: Remaking Responsibility for Retirement. Philadelphia: University of Pennsylvania Press, pp. 98-112.
• Wilcox, David W. (1998). "Policy Watch: The Introduction of Indexed Government Debt in the United States," Journal of Economic Perspectives, vol. 12, no. 1, pp. 219-227.
• Cecchetti, Stephen G., Anil K. Kashyap, and David W. Wilcox (1997). "Interactions between the Seasonal and Business Cycles in Production and Inventories," American Economic Review, vol. 87, no. 5, pp. 884-892.
• Reifschneider, David L., David J. Stockton, and David W. Wilcox (1997). "Econometric Models and the Monetary Policy Process," Carnegie-Rochester Conference Series on Public Policy, vol. 47, pp. 1-37.
• Shapiro, Matthew D., and David W. Wilcox (1997). "Alternative Strategies for Aggregating Prices in the CPI," Federal Reserve Bank of St.Louis Review, vol. 79, no. 3, pp. 113-125.
• Hall, Alastair R., Glenn D. Rudebusch, and David W. Wilcox (1996). "Judging Instrument Relevance in Instrumental Variables Estimation," International Economic Review, vol. 37, no. 2, pp. 283-298.
• Kashyap, Anil K., Jeremy C. Stein, and David W. Wilcox (1996). "Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance: Reply," American Economic Review, vol. 86, no. 1, pp. 310-314.
• Shapiro, Matthew D., and David W. Wilcox (1996). "Generating Non-Standard Multivariate Distributions with an Application to Mismeasurement in the CPI," NBER Technical Working Paper 196. National Bureau of Economic Research, Inc.
• Shapiro, Matthew D., and David W. Wilcox (1996). "Mismeasurement in the Consumer Price Index: An Evaluation," in Bernanke, Ben,S., Julio Rotemberg J. eds., NBER Macroeconomics Annual 1996. Cambridge and London: MIT Press, pp. 93-142.
• West, Kenneth D., and David W. Wilcox (1996). "A Comparison of Alternative Instrumental Variables Estimators of a Dynamic Linear Model," Journal of Business and Economic Statistics, vol. 14, no. 3, pp. 281-293.
• Carroll, Christopher D., Jeffrey C. Fuhrer, and David W. Wilcox (1994). "Does Consumer Sentiment Forecast Household Spending? if so, Why?" American Economic Review, vol. 84, no. 5, pp. 1397-1408.
• West, Kenneth D., and David W. Wilcox (1994). "Estimation and Inference in the Linear-Quadratic Inventory Model," Journal of Economic Dynamics and Control, vol. 18, no. 3-4, pp. 897-908.
• Wilcox, David (1994). "Review of: Understanding Consumption," Journal of Economic Literature, vol. 32, no. 3, pp. 1234-1235.
• Bell, William R., and David W. Wilcox (1993). "The Effect of Sampling Error on the Time Series Behavior of Consumption Data," Journal of Econometrics, vol. 55, no. 1-2, pp. 235-265.
• Kashyap, Anil K., and David W. Wilcox (1993). "Production and Inventory Control at the General Motors Corporation during the 1920's and 1930's," American Economic Review, vol. 83, no. 3, pp. 383-401.
• Kashyap, Anil K., Jeremy C. Stein, and David W. Wilcox (1993). "Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance," American Economic Review, vol. 83, no. 1, pp. 78-98.
• West, Kenneth D., and David W. Wilcox (1993). "Some Evidence on Finite Sample Behavior of an Instrumental Variables Estimator of the Linear Quadratic Inventory Model," Finance and Economics Discussion Series 93-29. Board of Governors of the Federal Reserve System (U.S.).
• Wilcox, David W. (1993). "The Welfare Gain from the Introduction of Indexed Bonds: Comment," Journal of Money, Credit, and Banking, vol. 25, no. 3, pp. 632-635.
• Wilcox, David W. (1992). "The Construction of U.S. Consumption Data: Some Facts and their Implications for Empirical Work," American Economic Review, vol. 82, no. 4, pp. 922-941.
• Wilcox, David W. (1991). "Household Spending and Saving: Measurement, Trends, and Analysis," Federal Reserve Bulletin, vol. 77, no. 1, pp. 1-17.
• Wilcox, David W. (1990). "Income Tax Refunds and the Timing of Consumption Expenditure," Working Paper Series 106. Board of Governors of the Federal Reserve System (U.S.).
• English, William B., Jeffrey A. Miron, and David W. Wilcox (1989). "Seasonal Fluctuations and the Life Cycle-Permanent Income Model of Consumption: A Correction," Journal of Political Economy, vol. 97, no. 4, pp. 988-991.
• Wilcox, David W. (1989). "Social Security Benefits, Consumption Expenditure, and the Life Cycle Hypothesis," Journal of Political Economy, vol. 97, no. 2, pp. 288-304.
• Wilcox, David W. (1989). "The Sustainability of Government Deficits: Implications of the Present-Value Borrowing Constraint," Journal of Money, Credit, and Banking, vol. 21, no. 3, pp. 291-306.

Other Activities