David A. Love

David Love

Class of 1969 Professor of Economics

Schapiro Hall Rm 202
At Williams since 2003


B.A. University of Michigan (1996)
M.A. Yale University, Economics (1998)
Ph.D. Yale University, Economics (2003)

Areas of Expertise

  • Macroeconomics
  • Public Finance
  • Household saving and portfolio choice
  • Pension finance

Current Committees

  • Compensation Committee from Steering Committee


“The Comprehensive Wealth of Immigrants and Natives,” (with Lucie Schmidt), Social Security Bulletin, 2019, Vol. 79(4).

“Countercyclical Retirement Accounts,” European Economic Review, 2017, Vol. 98, pp. 32-48.

“Hyperbolic Discounting and Portfolio Choice,” (with Greg Phelan), Journal of Pension Economics and Finance, Special Issue on Household Finance, 2015, Vol 14(4), pp. 489-521.

“Optimal Rules of Thumb for Consumption and Saving,” Economic Journal, 2013, Vol. 123, pp. 932-961.

“The Effect of Regulation on Optimal Corporate Pension Risk,” (with Paul Smith and David Wilcox), Journal of Financial Economics, 2011, Vol. 101(1), pp. 18-35.

“Does Health Affect Portfolio Choice?” (with Paul Smith), Health Economics, 2010, Vol 19(12), pp. 1441-1460.

“The Effect of Marital Status and Children on Savings and Portfolio Choice,” Review of Financial Studies, 2010, Vol. 23(1), pp. 385-432.

“Pension Risk and Household Saving Over the Life Cycle,” (with Paul Smith) in M. Micocci, G. N. Gregoriou, and G. B. Masala (eds.), Pension Fund Risk Management: Financial and Actuarial Modeling, Chapman & Hall/CRC Finance Series, 2010.

“Grades, Course Evaluations, and Academic Incentives,” (with Matthew Kotchen), Eastern Economic Journal, 2010, Vol. 36(2), pp. 151-163.

“The Trajectory of Wealth in Retirement” (with Michael Palumbo and Paul Smith), Journal of Public Economics, 2009, Vol. 93 (February), pp. 191-208.

“A New Look at the Wealth Adequacy of Older U.S. Households” (with Paul Smith and Lucy McNair), Review of Income and Wealth, 2008, Vol. 54(4), pp. 616-642.

“Why Do Firms Offer Risky Defined Benefit Pension Plans?” (with Paul Smith and David Wilcox), National Tax Journal, 2007, Vol. 60 (September), pp. 507-519.

“Measuring Dissaving out of Retirement Wealth” (with Paul Smith), Proceedings: Ninety- Ninth Annual Conference – 2006. Washington DC: National Tax Association, 2007, pp. 102-113.

“What Can the Life-Cycle Model Tell Us About 401(k) Contributions and Participation?” Journal of Pension Economics and Finance, 2007, Vol. 6(2) pp. 147-185.

“Buffer Stock Saving in Retirement Accounts,” Journal of Monetary Economics, 2006, Vol. 53(7) pp. 1473-1492.

Working Papers

“Sustainability with Risky Growth,” with Greg Phelan, 2023.

“Saving and Investment Rules of Thumb,” with Vanya Horneff and Raimond Maurer, 2023.

“Do Households Have Enough Wealth for Retirement?” (with Paul Smith and Lucy McNair), Finance and Economics Discussion Series 2007-17. Federal Reserve Board, 2007.

“Should the Old Play It Safe? Portfolio Choice in the Presence of Age-Dependent Background Risk,” with Maria Perozek, 2007.

“Do 401(k)s Substitute for IRAs?” June 2003.