Stephen Zeldes
- Frank R. Lautenberg Professor of Economics and Public Policy
- Economics Division
- Co-director
- Richard Paul Richman Center for Business, Law, and Public Policy at Columbia University
- Areas of Expertise
- Consumer Behavior, Digital Future Initiative, Macroeconomics
- Contact
- Office: 548 Kravis
- Phone: (212) 8542492
- E-mail: [email protected]
Stephen P. Zeldes is the Frank R. Lautenberg Professor of Economics and Public Policy at Columbia University’s Graduate School of Business. He serves as co-director of the Richard Paul Richman Center for Business, Law, and Public Policy at Columbia University. He served as chair of the school’s Finance and Economics division from 2014-17.
In his research, Professor Zeldes has examined a wide range of applied issues in both macroeconomics and household finance, including consumer borrowing, saving, and portfolio choices, social security, public and private pensions, and annuitization. His research has been published in the leading academic journals. Zeldes and his co-authors were awarded the TIAA-CREF Paul A. Samuelson Award for Scholarly Research on Lifelong Financial Security (1999).
Professor Zeldes’ teaching includes courses in macroeconomics, an interdisciplinary course titled “The Psychology and Economics of Consumer Finance,” and a class titled “FinTech: Consumer Financial Services.” In 2012, he was a recipient of the Dean’s Award for Teaching Excellence in a Core Course, and in 2013 he received the Dean’s Award for Innovation in the Curriculum.
Professor Zeldes is a Research Associate and director of the Working Group on Household Finance at the National Bureau of Economic Research. He is also a member of the Advisory Board of the Pension Research Council, and a fellow at the TIAA-CREF Institute. Prior to joining the Columbia faculty in 1996, Zeldes was a Professor at the Wharton School of the University of Pennsylvania. He received his Ph.D. in economics from MIT and his bachelor’s degree in economics and applied mathematics from Brown University.
- Education
-
BS, Brown, 1978; PhD, Massachusetts Institute of Technology, 1984
- Joined CBS
- 1996
Featured Research
Should the Government Be Paying Investment Fees on $3 Trillion of Tax-Deferred Retirement Assets?
Under standard assumptions, individuals and the government are indifferent between traditional tax-deferred retirement accounts and “front-loaded” (Roth) accounts. Adding investment fees to this benchmark, individuals are still indifferent but the government is not. We show that under weak conditions firms charge equal percent fees under both systems, yielding higher dollar fees under Traditional. We estimate that tax deferral increases demand for asset management services by $3.8 trillion, costing the government $23.4 billion in annual fees.
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Case Study
- Case ID
- 220307
Innovate or Fail: Western Union versus Digital Competitors in Global Remittances
How can Western Union position itself to maintain its market presence in the rapidly changing global financial services industry?
- Case ID
- 220306
CommonBond and Student Loan Refinancing
What is the best growth path for CommonBond which would allow it to expand without diluting its closely held mission or key competencies?
- Case ID
- 120303
Note on the Prepaid Card Industry
- Case ID
- 120315
Keep the Change: Bank of America's Savings Program
What is the net benefit of banks' "keep the change" programs for banks and for consumers--both from an economic and psychological perspective?
- Case ID
- 120301
Betterment
How can Betterment, a new online investment tool, provide additional value to its customers and continue to grow the company's worth?
- Case ID
- 90323
Spend! Save! Consumer Life-Cycle Planning
Which factors should be considered in developing a basic financial planning and wealth management tool?
- Case ID
- 90317
Should the U.S. Privatize Social Security?
What are the pros and cons of privatizing the US Social Security system?
- Case ID
- 80306
The Big News
With the release of the monthly US employment report, how and why do various markets respond, and what strategies might be employed prior to the announcement?
- Case ID
- 90303
Reducing Inflation in Argentina: Mission Impossible?
Should a new economics minister put his rescue plan at risk by fighting for a currency board?