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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

Summer Institute 2012

 

Housing and the Financial Crisis

 

Joe Gyourko, Organizer

 

July 24, 2012

 

Royal Sonesta Hotel

Skyline Room

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

 

PROGRAM

 

Tuesday, July 24:

 

 

8:30 am

Joe Gyourko, Welcome and Introductions

 

 

8:45 am

Joseph Tracy, Andrew Haughwout, Wilbert van der Klaauw, and Donghoon Lee, Federal Reserve Bank of New York

 

Real Estate Investors, the Leverage Cycle and the Housing Market Crisis

 

 

 

Discussant: Patrick Bayer, Duke University and NBER

 

 

9:45 am

Break

 

 

10:00 am

Alexander Chinco, New York University

 

Christopher Mayer, Columbia University and NBER

 

Distant Speculators and Asset Bubbles in the Housing Market

 

 

Discussant: Andrew Paciorek, Board of Governors of the Federal Reserve System

11:00 am

Johannes Stroebel, University of Chicago

 

The Impact of Asymmetric Information about Collateral Values in Mortgage Lending

 

 

 

Discussant: Christopher Mayer, Columbia University and NBER

 

 

12:00 n

Lunch

 

 

1:00 pm

Anthony DeFusco and Wenjie Ding, University of Pennsylvania

 

Fernando Ferreira, and Joe Gyourko, University of Pennsylvania and NBER

 

The Role of Contagion in the American Housing Boom

 

 

 

Discussant: Amit Seru, University of Chicago and NBER

 

 

2:00 pm

Adam Guren and Timothy McQuade, Harvard University

 

How Do Foreclosures Exacerbate Housing Downturns??

 

 

 

Discussant: Robert Novy-Marx, University of Rochester and NBER

 

 

3:00 pm

Break

 

 

3:30 pm

Kristopher Gerardi, Federal Reserve Bank of Atlanta

 

Eric Rosenblatt, Fannie Mae

 

Paul Willen, Federal Reserve Bank of Boston and NBER

 

Vincent Yao, Fannie Mae

 

Foreclosure Externalities: Some New Evidence

 

 

 

Discussant: John Campbell, Harvard University and NBER

 

 

4:30 pm

Adjourn

 

 

6:00 pm

Group Dinner – Legal Sea Foods at Kendall Square

 

 

Wednesday, July 25:

 

 

8:30 am

Patrick Bayer, Duke University and NBER

 

Fernando Ferreira, University of Pennsylvania and NBER

 

Stephen Ross, University of Connecticut

 

The Financial Vulnerability of Minority Homeowners: Evidence from the Recent Financial Crisis

 

 

 

Discussant: Erik Hurst, University of Chicago and NBER

 

 

9:30 am

Break

 

 

10:00 am

Chao He, University of Wisconsin

 

Randall Wright, University of Wisconsin and NBER

 

Yu Zhu, University of Wisconsin

 

Housing and Liquidity

 

 

Discussant: Edward Glaeser, Harvard University and NBER

11:00 am

Sumit Agarwal, National University of Singapore

 

Gene Amromin, Federal Reserve Bank of Chicago

 

Itzhak Ben-David, Ohio State University

 

Souphala Chomsisengphet, Office of the Comptroller of the Currency

 

Tomasz Piskorski, Columbia University

 

Amit Seru, University of Chicago and NBER

 

Policy Intervention in Debt Renegotiation:  Evidence from the Home Afforadable Modification Program

 

 

 

Discussant: Joseph Tracy, Federal Reserve Bank of New York

 

 

12:00 n

Lunch



1:00 pm

PERE Session

Elizabeth Cascio, Dartmouth College and NBER
Ebonya Washington, Yale University and NBER
Valuing the Vote: The Redistribution of Voting Rights and State Funds Following the Voting Rights Act of 1965

Discussant:
Brian Knight, Brown University and NBER

2:00 pm

Sebastian Galiani, Alvin Murphy, and Juan Pantano, Washington University in St. Louis
Estimating Neighborhood Choice Models: Lessons from a Housing Assistance Experiment

Discussant:
Jeffrey Kling, Congressional Budget Office and NBER

3:00 pm

Break

3:30 pm

Daniel Chen, Duke University
Susan Yeh, University of Pennsylvania
Growth Under the Shadow of Expropriation? The Economic Impacts of Eminent Domain

Discussant:
William Fischel, Dartmouth College

4:30 pm

Adjourn