Find previous years selected papers.
Monetary Policy and Rents
Boaz Abramson, Columbia University, Pablo De Llanos, Columbia University, Lu Han, University of Wisconsin-Madison Presenter: Boaz Abramson, Columbia University Discussant: Michael Reher, University of California, San Diego
Housing Is the Financial Cycle Evidence from 100 Years of Local Building Permits
Gustavo Cortes, University of Florida, Cameron LaPoint, Yale School of Management Presenter: Cameron LaPoint, Yale School of Management Discussant: Chester Spatt, Carnegie Mellon University
Diversifying the Suburbs Rental Supply and Spatial Inequality
Konhee Chang, Haas School of Business, University of California, Berkeley Presenter: Konhee Chang, Haas School of Business University of California, Berkeley Discussant: Soon Hyeok Choi, Saunders College of Business, Rochester Institute of Technology
Mortgage Lock-in, Lifecycle Migration, and the Welfare Effects of Housing Market Liquidity
Kristopher Gerardi, Federal Reserve Bank of Atlanta, Franklin Qian, UNC Kenan-Flagler Business School, David Zhang, Jesse H. Jones School of Business at Rice University Presenter: Franklin Qian, UNC Kenan-Flagler Business School Discussant: Dayin Zhang, University of Wisconsin-Madison
Hidden Biases Selective Advertising in the Rental Housing Market Daniel E. Gold, University of Wisconsin-Madison, Lu Han, University of Wisconsin-Madison, Christopher Timmins, University of Wisconsin-Madison Presenter: Daniel E. Gold, University of Wisconsin-Madison
New Listing Alert: Alternative Theory of Housing Search
Sophia Gilbukh, Zicklin School of Business, Baruch College, CUNY Presenter: Sophia Gilbukh, Zicklin School of Business, Baruch College, CUNY
Race, Rental Yields and Housing Decay in Manhattan
Christophe Spaenjers, Leeds School of Business, CU Boulder, Tom Nicholas, Harvard Business School, Harvard University Presenter: Christophe Spaenjers, Leeds School of Business, CU Boulder
The Writing on the Maturity Wall: Commercial Real Estate Performance and Rollover Risk Jiakai Chen, The Shidler College of Business, University of Hawaii at Manoa, Yifan Chen, The Shidler College of Business, University of Hawaii at Manoa Presenter: Jiakai Chen, The Shidler College of Business, University of Hawaii at Manoa
Up in Smoke The Impact of Wildfire Pollution on Healthcare Municipal Finance Sean Wilkoff, The University of Nevada, Reno, Luis Lopez, University of Illinois at Chicago, Dermot Murphy, University of Illinois at Chicago, Nitzan Tzur Ilan, Federal Reserve Bank of Dallas Presenter: Sean Wilkoff, The University of Nevada, Reno
Racial Differences in the Total Rate of Return on Owner-Occupied Housing
Rebecca Diamond, Stanford Graduate School of Business and the National Bureau of Economic Research, Stanford University, William Diamond, Wharton School of Business, University of Pennsylvania Presenter: William Diamond, Wharton School of Business, University of Pennsylvania Discussant: Alina Arefeva,University of Wisconsin-Madison.
- Mortgage Lenders’ Diversity Policies and Mortgage Lending to Minorities
Ivy Feng, University of Wisconsin-Madison, Devin M. Shanthikumar, University of California Irvine, Dayin Zhang, University of Wisconsin-Madison - Why Zoning is Too Restrictive
Jack Favilukis, Sauder School of Business, University of British Columbia, Jaehee Song, Leeds School of Business, University of Colorado - In Search of the Matching Function in the Housing Market
Cristian Badarinza, National University of Singapore and CEPR, Vimal Balasubramaniam, Queen Mary University of London and CEPR, Tarun Ramadorai, Imperial College London and CEPR - Identifying the Portfolio Balance Mechanism
Jefferson Duarte, Jesse H. Jones School of Business at Rice University, Tarik Umar, Jesse H. Jones School of Business at Rice University - Environmental Health Risks, Property Values and Neighborhood Composition
Jules van Binsbergen, University of Pennsylvania, CEPR and NBER, João F. Cocco, London Business School and CEPR, Marco Grotteria, London Business School and CEPR, S. Lakshmi Naaraayanan, London Business School - Impact of Institutional Owners on Housing Markets
Caitlin S. Gorback, McCombs School of Business, University of Texas at Austin, Franklin Qian, UNC Kenan-Flagler Business School, Zipei Zhu, UNC Kenan-Flagler Business School - Exploring Climate Risk, Risk Retention, and CMBS: Understanding their Interplay
Yildiray Yildirim, Zicklin School of Business, Baruch College, CUNY, Bing Zhu, Technical University of Munich, Department of Civil, Geo and Environmental Engineering - Adaptation to Climate Change Through Mortgage Default and Prepayment
Yongheng Deng, University of Wisconsin-Madison, Congyan Han, University of Wisconsin-Madison, Teng Li, Sun Yat-sen University, Timothy Riddiough, University of Wisconsin-Madison - Picking Up the PACE: Loans for Residential Climate-Proofing
Aymeric Bellon, UNC Chapel Hill, Kenan-Flagler Business School, Cameron LaPoint, Yale School of Management, Francesco Mazzola, ESCP Business School, Guosong Xu, Erasmus University, Rotterdam School of Management - Did Pandemic Relief Fraud Inflate House Prices?
John M. Griffin, McCombs School of Business, University of Texas at Austin, Samuel Kruger, McCombs School of Business, University of Texas at Austin, Prateek Mahajan, McCombs School of Business, University of Texas at Austin
- How Do Labor Shortages Affect Residential Construction and Housing Affordability? – Troup Howard, University of Utah, Mengqi Wang, University of Wisconsin at Madison, and Dayin Zhang, University of Wisconsin at Madison
- Mortgage Lock-In, Mobility, and Labor Reallocation – Julia Fonseca, Gies College of Business, University of Illinois Urbana-Champaign and Lu Liu, The Wharton School, University of Pennsylvania
- Risk Perception and Loan Underwriting in Securitized Commercial Mortgages – Simon Firestone, Gro Intelligence, Nathan Godin, Haas School of Business, University of California, Berkeley, Akos Horvath, Federal Reserve Board of Governors, and Jacob Sagi, Kenan-Flagler Business School, University of North Carolina at Chapel Hill
- The Imitation Game: How Encouraging Renegotiation Makes Good Borrowers Bad – Sean Flynn, Cornell University, Andra Ghent, University of Utah, and Alexei Tchistyi, Cornell University
- The Impact of Cultural Preferences on Homeownership – Caitlin Gorback, McCombs School of Business, University of Texas, at Austin and Gregor Schubert, UCLA Anderson School of Management
- Catering and Return Manipulation in Private Equity – Blake Jackson, University of Florida, David Ling, University of Florida, and Andy Naranjo, University of Florida
- High Temperature, Climate Change, and Real Estate -Li Ma, Zicklin School of Business, Baruch College-CUNY, and Yildiray Yildirim, Zicklin School of Business, Baruch College-CUNY
- Specialization and Performance in Private Equity: Evidence from the Hotel Industry – Christophe Spaenjers, University of Colorado Boulder, and Eva Steiner, The Pennsylvania State University
- Pricing the Upside Potential to Downside Risk – Soon Hyeok Choi, Cornell University, Robert Jarrow, Cornell University, Daniel Lebret, Cornell University, and Crocker Liu, Cornell University
- How Auctions Amplify House-Price Fluctuations – Alina Arefeva, Wisconsin School of Business, University of Wisconsin-Madison.
- Heterogeneous Real Estate Agents and the Housing Cycle – Sonia Gilbukh, Zicklin School of Business, Baruch College – The City University of New York and Paul Goldsmith-Pinkham, Yale University School of Management.
- Credit Cycles with Market-Based Household Leverage – William Diamond & Tim Landvoigt, Wharton School of the University of Pennsylvania.
- The Limits of Shadow Banks – Greg Buchak, University of Chicago, Gregor Matvos, McCombs School of Business, University of Texas at Austin, Tomasz Piskorski, Columbia Graduate School of Business and Amit Seru, Stanford Graduate School of Business.
- Informational Efficiency in Securitization After Dodd-Frank – Sean J. Flynn Jr., College of Business, Colorado State University, Andra Ghent, Wisconsin School of Business, University of Wisconsin-Madison and Alexei Tchistyi, Gies College of Business, University of Illinois-Urbana-Champaign.
- Consumer-Lending Discrimination in the FinTech Era – Robert Bartlett, School of Law, University Of California, Berkeley, Adair Morse, Richard Stanton and Nancy Wallace, Haas School of Business, University of California, Berkeley.
- No Job, No Money, No Refi: Frictions to Refinancing in a Recession – Anthony A. DeFusco and John Mondragon, Northwestern University.
- Financial Fragility with SAM? – Daniel L. Greenwald, MIT Sloan, Tim Landvoigt, University of Pennsylvania Wharton School and Stijn Van Nieuwerburgh, New York University Stern School of Business.
- Predictably Unequal? The Effects of Machine Learning on Credit Markets – Andreas Fuster & Paul Goldsmith-Pinkham, Federal Reserve Bank of New York, Tarun Ramadorai, Imperial College and Ansgar Walther, Warwick School of Business.
- The Impact of Risk Retention Regulation on the Underwriting of Securitized Mortgages – Craig Furfine, Kellogg School of Management.
- The Role of Technology in Mortgage Lending – Andreas Fuster, Matthew Plosser, Philipp Schnabl and James Vickery, Federal Reserve Bank of New York.
- What’s Wrong with Pittsburgh? – Andra Ghent, Wisconsin School of Business.
- Import Competition and Household Debt – Jean-Noel Barrot, MIT, Erik Loualiche, MIT, Matthew Plosser, New York Federal Reserve Bank, and Julien Sauvagnat, Bocconi.
- Do Financial Constraints Cool a Housing Boom? – Lu Han, University of Toronto, Chandler Lutz, Copenhagen Business School, Benjamin Sand, York University, and Derek Stacey, Ryerson University.
- Speculative Dynamics of Prices and Volume – Anthony DeFusco, Northwestern University, Charles Nathanson, Northwestern University, and Eric Zwick, University of Chicago.
- Out-of-Town Buyers and City Welfare – Jack Favilukis, University of British Columbia and Stijn Van Nieuwerburgh, New York University.
- Regulating Household Leverage – Anthony DeFusco, Northwestern University, Stephanie Johnson, Northwestern University, and John Mondragon, Northwestern University.
- An Equilibrium Model of Housing and Mortgage Markets with State-Contingent Lending Contracts – Alexei Tchistyi, University of Illinois and Tomasz Piskorski, Columbia University.
- Conflicts of Interest and the Realtor Commission Puzzle – Panle J. Barwick, Cornell University, Parag A. Pathak, MIT, Maisy Wong, Wharton.
- Affordability, Financial Innovation, and the Start of the Housing Boom – Jane K. Dokko, Brookings Institution, Benjamin Keys, Columbia, Lindsay Relihan, Wharton.
- Unconventional Monetary Policy and the Allocation of Credit – Marco Di Maggio, Columbia, Amir Kermani, UC Berkeley, Christopher Palmer, UC Berkeley.
- Mortgage Underwriting Standards in the Wake of Quantitative Easing – Barney Hartman-Glaser, UCLA, Richard Stanton, UC Berkeley, and Nancy Wallace, UC Berkeley.
- Cross-Sectional Patterns of Mortgage Debt during the Housing Boom: Stocks and Flows – Christopher Foote, Boston Federal Reserve Bank, Lara Loewenstein, Boston Federal Reserve Bank, Paul Willen, Boston Federal Reserve Bank.
- Portfolio Choice with House Value Misperception – Stefano Corradin, European Central Bank, Jose L. Fillat, Federal Reserve Bank of Boston, and Carles Vergara, IESE.
- Deregulation, Competition and the Race to the Bottom – Marco Di Maggio, Columbia University, Amir Kermani, and Sanket Korgaonkar, UC Berkeley.
- CMBS and Conflicts of Interest: Evidence from a Natural Experiment on Servicer Ownership – Maisy Wong, University of Pennsylvania.
- Homeowner Borrowing and Housing Collateral: New Evidence from Expiring Price Controls – Anthony DeFusco, Wharton.
- An Extrapolative Model of House Price Dynamics – Edward Glaeser, Harvard and Charles Nathanson, Northwestern.
- Asset Level Risk and Return in Real Estate Investments – Jacob Sagi, UNC-Chapel Hill.
- Swimming Upstream: Struggling Firms in Corrupt Cities – Christopher Parsons, USC, Johan Sulaeman, National University of Singapore, and Sheridan Titman, UT-Austin.
- Credit Induced Boom and Bust – Marco Di Maggio, Columbia University and Amir Kermani, UC Berkeley.
- Boom and Gloom – Renata Kosova, Imperial College, Praveen Kumar and Paul Povel, University of Houston and Giorgio Sertsios, Universidad de los Andes.
- How Organizational Hierarchy Affects Information Production – Janis Skrastins and Vikrant Vig, London Business School.
- When Low Standards are a Winning Strategy: How Credit Rating Agencies Compete – Sean Flynn and Andra Ghent, Arizona State University.
- The Effect of Mortgage Securitization on Foreclosure and Modification – Samuel Kruger, Harvard.
- Arrested Development: Theory and Evidence of Supply-side Speculation in the Housing Market – Charles Nathanson and Eric Zwick, Harvard.
- Knowing your Neighborhood: Asymmetric Information in Real Estate Markets – Pablo Kurlat, Stanford and Johannes Stroebel, University of Chicago.
- Fear and Loathing in the Housing Market: Evidence from Search Query Data – Marcell Chauvet, UC Riverside), Stuart Gabriel, UC Los Angeles and Chandler Lutz, Copenhagen Business School.
- In-House Transactions in the Real Estate Brokerage Market: Matching Outcome or Strategic Promotion? – Lu Han, University of Toronto and Seung-Hyun Hong, University of Illinois.
- Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market – Tomasz Piskorski, Columbia University, Amit Seru, University of Chicago and NBER, and James Witkin, Columbia University.
- The Attractions and Perils of Flexible Mortgage Lending – Mark J. Garmaise, UC Los Angeles.
- Unemployment Insurance and Consumer Credit – Joanne W. Hsu, Federal Reserve Board of Governors, David A. Matsa and Brian T. Melzer, Northwestern University.
- Bidding Wars for Houses – Lu Han,and Will Strange, University of Toronto.
- Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty – Hui Chen, MIT, Michael Michawx, USC, and Nikolai Roussanov, Wharton.
- Borrower Misrepresentation and Loan Performance – Mark Garmaise, UC Los Angeles.
- Energy Efficiency and Commercial-Mortgage Valuation – Dwight Jaffee, Richard Stanton, and Nancy Wallace, UC Berkeley.
- Financial Innovation in Late-Eighteenth Century Netherlands: The Case of American Land Securities – Rik Frehen, Tilburg, Geert Rouwenhorst and Will Goetzmann, Yale.
- Cultural Proximity and Loan Outcomes – Ray Fisman, Columbia University, Daniel Paravisini, Columbia University and LSE, and Vikrant Vig, LBS.