Previous Summer Real Estate Research Symposiums | Fisher Center for Real Estate & Urban Economics

2018 Summer Real Estate Symposium

Program Papers

“No Job, No Money, No Refi: Frictions to Refinancing in a Recession, Anthony A. DeFusco & 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.

Program Papers

“Import Competition and Household Debt“, Jean-Noel Barrot, MIT, Erik Loualiche, MIT (Presenter), Matthew Plosser, New York Federal Reserve Bank, and Julien Sauvagnat, Bocconi.
“Do Financial Constraints Cool a Housing Boom?“, Lu Han, University of Toronto (Presenter), Chandler Lutz, Copenhagen Business School, Benjamin Sand, York University, and Derek Stacey, Ryerson University.
“Speculative Dynamics of Prices and Volumne“, Anthony DeFusco, Northwestern University, Charles Nathanson, Northwestern University (Presenter), and Eric Zwick, University of Chicago.
“Out-of-Town Buyers and City Welfare“, Jack Favilukis, University of British Columbia (Presenter) and Stijn Van Nieuwerburgh, New York University
“Regulating Household Leverage“, Anthony DeFusco, Northwestern University (Presenter), 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 (Presenter) and Tomasz Piskorski, Columbia University

Program Papers

“Conflicts of Interest and the Realtor Commission Puzzle“, Panle J. Barwick, Cornell University, Parag A. Pathak, MIT, Maisy Wong, Wharton (Presenter).
“Affordability, Financial Innovation, and the Start of the Housing Boom“, Jane K. Dokko, Brookings Institution (Presenter), Benjamin Keys, Columbia, Lindsay Relihan, Wharton.
“Unconventional Monetary Policy and the Allocation of Credit“, Marco Di Maggio, Columbia (Presenter), Amir Kermani, UC Berkeley, Christopher Palmer, UC Berkeley.
“Mortgage Underwriting Standards in the Wake of Quantitative Easing“, Barney Hartman-Glaser, UCLA (Presenter), 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 (Presenter).
“Portfolio Choice with House Value Misperception, Stefano Corradin, European Central Bank“, Jose L. Fillat, Federal Reserve Bank of Boston, and Carles Vergara, IESE (Presenter).

Program Papers

“Deregulation, Competition and the Race to the Bottom“, by Marco Di Maggio (Columbia), Amir Kermani (UC – Berkeley) and Sanket Korgaonkar (UC – Berkeley)
Discussant: Taylor Nadauld, Brigham Young University
“CMBS and Conflicts of Interest: Evidence from a Natural Experiment on Servicer Ownership” by Maisy Wong (University of Pennsylvania)
Discussant: Christopher Palmer (UC-Berkeley)
“Homeowner Borrowing and Housing Collateral: New Evidence from Expiring Price Controls” by Anthony DeFusco (Wharton)
Discussant: Tom Davidoff (UBC)
“An Extrapolative Model of House Price Dynamics” by Edward Glaeser (Harvard University) and Charles Nathanson (Northwestern)
Discussant: Richard Stanton (Berkeley)
“Asset Level Risk and Return in Real Estate Investments” by Jacob Sagi (UNC-Chapel Hill)
Discussant: Chester Spatt (Carnegie Mellon)
“Swimming Upstream: Struggling Firms in Corrupt Cities” by Christopher Parsons (USC), Johan Sulaeman (National University of Singapore) and Sheridan Titman (UT-Austin)
Discussant: Jonathan Karpoff (University of Washington)

Program Papers

“Credit Induced Boom and Bust” by Marco Di Maggio (Columbia) and Amir Kermani (UC-Berkeley)
Discussant: Anna Scherbina (UC-Davis)
“Boom and Gloom” by Renata Kosova (Imperial College), Praveen Kumar (University of Houston), Paul Povel (University of Houston) and Giorgio Sertsios (Universidad de los Andes)
Discussant: Mark Garmaise (UCLA)
“How Organizational Hierarchy Affects Information Production” by Janis Skrastins (London Business School) and Vikrant Vig (London Business School)
Discussant: Andres Almazan (UT-Austin)
“When Low Standards are a Winning Strategy: How Credit Rating Agencies Compete” by Sean Flynn (Arizona State University) and Andra Ghent (Arizona State University)
Discussant: Chester Spatt (Carnegie Mellon)
“The Effect of Mortgage Securitization on Foreclosure and Modification” by Samuel Kruger (Harvard)
Discussant: Tomasz Piskorski (Columbia)
“Arrested Development: Theory and Evidence of Supply-side Speculation in the Housing Market” by Charles Nathanson (Harvard) and Eric Zwick (Harvard)
Discussant: Morris Davis (University of Wisconsin/Rutgers University)

Program Papers

“Knowing your Neighborhood: Asymmetric Information in Real Estate Markets” by Pablo Kurlat (Stanford) and Johannes Stroebel (University of Chicago)
“Fear and Loathing in the Housing Market: Evidence from Search Query Data” by Marcell Chauvet (University of California – Riverside), Stuart Gabriel (University of California – Los Angeles) and Chandler Lutz (Copenhagen Business School)
“In-House Transactions in the Real Estate Brokerage Market: Matching Outcome or Strategic Promotion?” by Lu Han (University of Toronto) and Seung-Hyun Hong (University of Illinois)
“Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market” by Tomasz Piskorski (Columbia GSB), Amit Seru (University of Chicago and NBER) and James Witkin (Columbia GSB)
“The Attractions and Perils of Flexible Mortgage Lending” by Mark J. Garmaise (UCLA Anderson)
“Unemployment Insurance and Consumer Credit” by Joanne W. Hsu (Federal Reserve Board of Governors), David A. Matsa (Northwestern University) and Brian T. Melzer (Northwester University)

Program Papers

“Bidding Wars for Houses” by Lu Han (Toronto) and Will Strange (Toronto)
“Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty” by Hui Chen (MIT), Michael Michawx (USC) and Nikolai Roussanov (Wharton)
“Borrower Misrepresentation and Loan Performance” by Mark Garmaise (UCLA)
“Energy Efficiency and Commercial-Mortgage Valuation” by Dwight Jaffee (UC Berkeley), Richard Stanton (UC Berkeley) and Nancy Wallace (UC Berkeley)
“Financial Innovation in Late-Eighteenth Century Netherlands: The Case of American Land Securities” by Rik Frehen (Tilburg), Geert Rouwenhorst (Yale) and Will Goetzmann (Yale)
“Cultural Proximity and Loan Outcomes” by Ray Fisman (Columbia), Daniel Paravisini (Columbia and LSE) Vikrant Vig (LBS)

For more information, please contact Liz Linton