Research
daniel.cooper@bos.frb.org
Biography
Daniel Cooper is a senior economist and policy advisor in the macroeconomics/international economics section of the research department at the Federal Reserve Bank of Boston. His main research interests are related to household consumption and wealth and using microeconomic data to investigate macroeconomic policy questions. Cooper has published research examining the role that housing wealth plays as collateral when borrowing to finance consumption; how house price changes, operating as borrowing collateral to finance college educations, may impact the future incomes of the homeowners' children; how household consumption and saving behavior responds to changes in taxes—as well as survey articles on the household wealth effect. His recent work has focused on the economic impact of changes in household balance sheets, including debt repayment, issues related to household mobility, and income inequality. Cooper is currently working on projects related to household formation, housing wealth and households' labor supply decisions, and the relationship between wage growth and price growth. Cooper holds a B.A. in economics from Amherst College. He earned M.A. and Ph.D. degrees in economics from the University of Michigan.
Work Experience
Federal Reserve Bank of Boston
Senior Economist and Policy Advisor, 2015 -
Senior Economist, 2012 - 2015
Economist, 2009 – 2012
Federal Reserve Bank of San Francisco
Dissertation Intern, Winter 2008
Board of Governors of the Federal Reserve System
Research Assistant, 2001–2004
Education
Ph.D. (Economics), University of Michigan, 2009
M.A. (Economics), University of Michigan, 2006
B.A. (Economics, summa cum laude), Amherst College,2001
Publications
Refereed articles
"The Role of Taxes in Mitigating Income Inequality Across the U.S. States".National Tax Journal, December 2015, 68 (4), 943-974.
"Household Wealth Effects and the US Macroeconomy", with Karen Dynan. In Emerging Trends in the Social and Behavioral Sciences: An Interdisciplinary, Searchable, and Linkable Resource. Wiley Online Library, John Wiley & Sons, Inc., available at http://onlinelibrary.wiley.com/doi/10.1002/9781118900772.etrds0382/abstract, (published online May 2015).
"House Price Growth When Children are Teenagers: A Path to Higher Earnings?", with Maria José Luengo-Prado. Journal of Urban Economics 86 (2015), 54-72.
"Wealth Effects and Macroeconomic Dynamics," with Karen Dynan. Journal of Economic Surveys, forthcoming.
"Asymmetric Responses to Income Changes: The Payroll Tax Increase versus Tax Refund in 2013," with Anat Bracha. Economic Letters 124(3), 534-538 (September 2014).
"House Price Fluctuations: The Role of Housing Wealth as Borrowing Collateral"Review of Economics and Statistics 95(4): 1183-1197 (October 2013).
"The S&P 500 Effect: Not So Good in the Long Run," with Geoffrey Woglom.Journal of Investing 12(4): 62-73 (Winter 2003).
Working papers and other unpublished papers
"Household Formation Over Time: Evidence from Two Cohorts of Young Adults" with Maria José Luengo-Prado. FRB Boston Current Policy Perspectives No. 15-4 (2015).
"House Price Growth When Children are Teenagers: A Path to Higher Earnings?" with Maria José Luengo-Prado. FRB Boston Current Policy Perspectives No. 14-13 (2014).
"Student Loan Debt and Economic Outcomes", with J. Christina Wang. FRB Boston Current Policy Perspectives No. 14-7 (2014).
"Labor Market Exit and Re-Entry: Is the United States Poised for a Rebound in the Labor Force Participation Rate?," with Maria José Luengo-Prado. FRB Boston Current Policy Perspectives, no. 14-2, (2014).
"The Ins and Arounds in the U.S. Housing Market" with Rudiger Bachmann. FRB Boston Working Papers Series, paper no. 14-3 (2014).
"Asymmetric Responses to Tax-Induced Changes in Personal Income: The 2013 Payroll Tax Hike Versus Anticipated 2012 Tax Refunds", with Anat Bracha. FRB Boston Public Policy Brief, brief no. 13-4 (2013).
"The Effect of Unemployment Duration on Future Earnings and Other Outcomes." FRB Boston Working Paper Series no. 13-8 (2013).
"Changes in U.S. Household Balance Sheet Behavior after the Housing Bust and Great Recession: Evidence from Panel Data." FRB Boston Public Policy Discussion Paper Series no. 13-6 (2013).
"Wealth Shocks and Macroeconomic Dynamics" with Karen Dynan. FRB Boston Public Policy Discussion Paper Series no. 13-4 (2013).
"Cyclical and Sectoral Transitions in the U.S. Housing Market," with Rudiger Bachmann. FRB Boston Working Papers Series no. 12-17 (2012).
"U.S. Household Deleveraging: What do the Aggregate and Household Data Tell Us?" FRB Boston Public Policy Brief Series no. 12-2 (2012).
"Quantifying the Role of Federal and State Taxes in Mitigating Income Inequality" with Byron F. Lutz and Michael G. Palumbo. FRB Boston Public Policy Discussion Paper Series no. 11-7 (2011).
"House Price Growth When Kids are Teenagers: A Path to Higher Intergenerational Achievement?" with Maria Jose Luengo-Prado. FRB Boston Working Paper Series no. 11-6 (2011).
"Imputing Household Spending in the Panel Study of Income Dynamics: A Comparison of Approaches." FRB Boston Working Paper Series no. 10-12 (2010).
"Impending U.S. Spending Bust? The Role of Housing Wealth as Borrowing Collateral." FRB Boston Public Policy Discussion Paper Series, no. 09-9 (2009).
"Impending Spending Bust? The Role of Housing Wealth as Borrowing Collateral." job market paper, (2009).
"Did Easy Credit Lead to Overspending? Home Equity Borrowing and Household Behavior in the Early 2000s." FRB Boston Public Policy Discussion Paper Series, no. 09-7 (2009).
"The Collateral Value of Illiquid Wealth: Home Equity Borrowing and Households' Precautionary Saving Motive." Working paper.