Paul Willen is a senior economist and policy advisor in the research department of the Federal Reserve Bank of Boston. Paul’s research focuses on household financial management; recently he has spent much of his time studying mortgage markets. His research appears in the Review of Economics and Statistics, Economic Theory, the Journal of Finance, the Journal of Public Economics, the Journal of Urban Economics, the NBER Macro Annual, the Brookings papers on Economic Activity, and elsewhere. Paul’s research on the origins of the subprime crisis has appeared in scholarly journals and has been cited in virtually every major newspaper in the United States. Prior to joining the Boston Fed in 2004, Paul was on the faculty at Princeton and the University of Chicago. He has also been a visiting member of the faculty at MIT in each of the last three years. Paul did his undergraduate work at Williams College and got his Ph.D. from Yale University.