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Author:Zeldes, Stephen 

Working Paper
Do the rich save more?

The issue of whether higher lifetime income households save a larger fraction of their income is an important factor in the evaluation of tax and macroeconomic policy. Despite an outpouring of research on this topic in the 1950s and 1960s, the question remains unresolved and has since received little attention. This paper revisits the issue, using new empirical methods and the Panel Study on Income Dynamics, the Survey of Consumer Finances, and the Consumer Expenditure Survey. We first consider the various ways in which life cycle models can be altered to generate differences in saving rates ...
Finance and Economics Discussion Series , Paper 2000-52

Journal Article
Effects of monetary disturbances on exchange rates, inflation and interest rates

Economic Review , Issue Spr , Pages 7-29

Working Paper
Cost shifting and the freezing of corporate pension plans

Many U.S. corporations have frozen defined benefit (DB) pension plans, replacing new DB promises with contributions to defined contribution (DC) plans. We estimate expected DB accruals from the age-service and salary distributions of a large sample of U.S. corporate pension plans with more than 1,000 employees. Comparing the counterfactual DB accruals to the actual increase in 401(k) and other DC contributions for firms that freeze, we find only partial compensation to employees for the lost DB accruals. Net of the increase in total DC contributions, firms save 2.7-3.6% of payroll per year, ...
Finance and Economics Discussion Series , Paper 2013-82

Journal Article
Monetary policy transmission through the consumption-wealth channel : commentary

Paper for a conference sponsored by the Federal Reserve Bank of New York entitled Financial Innovation and Monetary Transmission
Economic Policy Review , Volume 8 , Issue May , Pages 135-138

Journal Article
Has the Fed given up?

FRBSF Economic Letter

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