Expertise
Budget and fiscal policy; public and private pensions; saving behavior; tax policy; transfers of wealth between generations
Background
Past Positions
Joseph A. Pechman Fellow, Brookings (1992-2001); Senior Staff Economist, President's Council of Economic Advisers (1991-92); Assistant Professor, Department of Economics, University of California, Los Angeles (1987-91)
Education
Ph.D., Stanford University, 1987; B.A., Duke University, 1981
"There is no guarantee that this is the bailout that ends all of this for a couple of reasons. One is it might not solve the current issues in the mortgage market…and the other is there are other issues looming: student loans, credit card debt, auto loans are all out there and all sort of are headed in the same way that the mortgage market is. Even within the mortgage market there are these negative amortizing loans that don’t really kick in until 2009 2010 that are basically time bombs waiting to happen. There will be more bumps along the way even if this works."