Session Name Page Number - AREUEA Philadelphia...49th AREUEA Annual Conference Philadelphia,...

49 th AREUEA Annual Conference

Philadelphia, Pennsylvania

January 3-5, 2014

Session Name Page Number

Friday, January 03, 2014

08:00 AM

Commercial Real EstateLoews Philadelphia Hotel, Washington B

1

Urban Development and DynamicsLoews Philadelphia Hotel, Washington C

2

10:15 AM

Mortgages 1Loews Philadelphia Hotel, Washington A

3

Real Estate and RiskLoews Philadelphia Hotel, Washington B

4

Regulations, Policies, and Housing Dynamics Loews Philadelphia Hotel, Washington C

5

12:30 PM

Neighborhood DevelopmentLoews Philadelphia Hotel, Washington B

6

02:30 PM

Housing Markets and Consumer PreferencesLoews Philadelphia Hotel, Washington A

7

Mortgages 2Loews Philadelphia Hotel, Washington B

8

Securitization and Mortgage MarketsLoews Philadelphia Hotel, Washington C

9

Saturday, January 04, 2014

08:00 AM

HomeownershipLoews Philadelphia Hotel, Washington B

10

Urban Development and TransportationLoews Philadelphia Hotel, Washington C

11

10:15 AM

Government Intervention in Residential Mortgage Markets Loews Philadelphia Hotel, Washington B

12

Mortgages 3Loews Philadelphia Hotel, Washington C

13



January 3-5, 2014

Session Name Page Number

Saturday, January 04, 2014

02:30 PM

AREUEA-AEA Joint Panel Discussion: The Role of Regulation in the Housing Market

Loews Philadelphia Hotel, Regency Ballroom C2

14

Real Estate ValuesLoews Philadelphia Hotel, Washington B

15

Agency Problems and Marketing of Real EstateLoews Philadelphia Hotel, Washington C

16

Sunday, January 05, 2014

08:00 AM

AREUEA-AFA Joint Session: Information in Real Estate and Mortgage Markets

Loews Philadelphia Hotel, Regency Ballroom C2

17

Real Estate Investment Trusts (REITs)Loews Philadelphia Hotel, Washington B

18

10:15 AM

Neighborhoods, Amenities, and EducationLoews Philadelphia Hotel, Washington A

19

Real Estate Market MicrostructureLoews Philadelphia Hotel, Washington B

20

Urban Public PolicyLoews Philadelphia Hotel, Washington C

21

01:00 PM

Housing Markets and ReturnsLoews Philadelphia Hotel, Washington B

22

Urban EconomicsLoews Philadelphia Hotel, Washington C

23

49 AREUEA Annual Conference


January 3-5, 2014

th



January 3-5, 2014

S I

Session Title: Commercial Real Estate

Day: Friday, January 03, 2014

Time: 08:00 AM

Location: Loews Philadelphia Hotel, Washington B

Presiding: Andra Ghent

Arizona State University

Tempe, AZ

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Real Earnings Management, Liquidity and REITs SEO dynamics

Xiaoying Deng (National University of Singapore), Seow Eng Ong (National University of Singapore)

Using Cash Flow Dynamics to Price Thinly Traded Assets: The Case of Commercial Real Estate

Crocker Liu (Cornell University), Walter Boudry (Cornell University), Tobias Muhlhofer (University of Texas), Walter Torous (Massachusetts Institute of Technology)

What Drives Building-Level Investment Returns?

Serguei Chervachidze (CBRE Econometric Advisors), Jeffery Fisher (Indiana University), William Wheaton (Massachusetts Institute of Technology)

Commercial Real Estate, Distress and Financial Resolution: Portfolio Lending versus Securitization

David Downs (Virginia Commonwealth University), Tracy Xu (University of Denver)

D ISCUSSANTS:

Moussa Diop (University of Wisconsin)

Rossen Valkanov (University of California-San Diego)

Xudong An (San Diego State University)

David Brown (University of Florida)

Page 1 of 23

http://areuea.org/conferences/papers/download.phtml?id=3589





January 3-5, 2014

S I

Session Title: Urban Development and Dynamics


Time: 08:00 AM

Location: Loews Philadelphia Hotel, Washington C

Presiding: Eleonora Patacchini

Syracuse University

Syracuse, NY

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Congestion, Agglomeration, and the Structure of Cities

Jeffrey Brinkman (Federal Reserve Bank of Philadelphia)

The Decline of the Rust Belt: A Dynamic Spatial Equilibrium Analysis

Chamna Yoon (University of Pennsylvania)

The Settlement of the United States, 1800 to 2000: The Long Transition Towards Gibrat's Law

Jordan Rappaport (Federal Reserve Bank of Kansas City), Klaus Desmet (Carlos III)

Driving to Opportunity: Local Wages, Commuting, and Sub-Metropolitan Quality of Life

David Albouy (University of Michigan), Bert Lue (University of Michigan)

D ISCUSSANTS:

Ronni Pavan (University of Rochester)

Giorgio Topa (Federal Reserve Board of New York)

Matthew Turner (University of Toronto)

Jessie Handbury (University of Pennsylvania)

Page 2 of 23






January 3-5, 2014

S I

Session Title: Mortgages 1


Time: 10:15 AM

Location: Loews Philadelphia Hotel, Washington A

Presiding: Morris Davis

University of Wisconsin

Madison, WI

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

The Effect of Mortgage Payment Reduction on Default: Evidence from the Home Affordable Refinance Program

Douglas McManus (Freddie Mac), Jared Janowiak (Freddie Mac), Lu Ji (Freddie Mac), Kadiri Karamon (Freddie Mac), Jun Zhu (Freddie Mac)

Equity Extraction and Mortgage Default: Understanding why Early Home-buyers Defaulted during the Housing Bust

Steven Laufer (Federal Reserve Board of Governors)

Household Debt Dynamics: How Do Struggling Homeowners Manage Credit?

Andrew Haughwout (Federal Reserve Bank of New York), Sewin Chan (New York University), Andrew Hayashi (New York University), Wilbert van der Klaauw (Federal Reserve Bank of New York)

The Selection and Treatment Effects of Loan Modifications: Evidence from Rejected Modification Applicants

Weizheng Xiao (Freddie Mac), Yan Chang (Freddie Mac)

D ISCUSSANTS:

Erwan Quintin (University of Wisconsin)

Wilbert van der Klaauw (Federal Reserve Bank of New York)

Yongqiang Chu (University of South Carolina)

Kerry Vandell (University of California-Irvine)

Page 3 of 23







January 3-5, 2014

S I

Session Title: Real Estate and Risk


Time: 10:15 AM


Presiding: Jay Hartzell

University of Texas-Austin

Austin, TX

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities

Eva Steiner (University of Cambridge), Andrey Pavlov (Simon Fraser University), Susan Wachter (University of Pennsylvania)

Incentives for Controlling Inefficient Risk-Taking – Bridging Banking, Securitization and Capital Requirements

Rose Lai (University of Macau), Robert Van Order (George Washington University)

The Design of Mortgage-Backed Securities and Servicer Contracts

Robert Mooradian (Northeastern University), Pegaret Pichler (Northeastern University)

Short Sales and Price Discovery in Real Estate Markets

Siu Kei Wong (University of Hong Kong), T.C.C. Lai (University of Hong Kong)

D ISCUSSANTS:

Tobias Mühlhofer (University of Texas-Austin)

Alan Crane (Rice University)

Alexei Tchistyi (University of California-Berkeley)

Wenlan Qian (National University of Singapore)

Page 4 of 23







January 3-5, 2014

S I

Session Title: Regulations, Policies, and Housing Dynamics


Time: 10:15 AM


Presiding: John Duca

Federal Reserve Bank of Dallas

Dallas, TX

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Macroprudential and Monetary Policies: Implications for Financial

Margarita Rubio (University of Nottingham), Jose Carrasco-Gallego (Universidad Rey Juan Carlos)

Shifting Credit Standards and the Boom and Bust in U.S. House Prices: Time Series Evidence from the Past Three Decades

John Duca (Federal Reserve Bank of Dallas), John Muellbauer (Oxford University), Anthony Murphy (Federal Reserve Bank of Dallas)

Clustered Housing Cycles

Margarita Rubio (University of Nottingham), Ruben Hernandez-Murillo (Federal Reserve Bank of St. Louis), Michael Owyang (Federal Reserve Bank of St. Louis)

Implications of U.S. Tax Policy for House Prices, Rents and Homeownership

Paul Sullivan (U.S. Bureau of Labor Statistics), Kamila Sommer (Federal Reserve Board)

D ISCUSSANTS:

Daniel Fetter (Wellesley College)

John Krainer (Federal Reserve Bank of San Francisco)

Roland Fuess (University of St. Gallen)

Don Schlagenhauf (Florida State University)

Page 5 of 23







January 3-5, 2014

S I

Session Title: Neighborhood Development


Time: 12:30 PM


Presiding: Yannis Ioannides

Tufts University

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Gentrification and the Decision to Renovate or Teardown

Kiplan Womack (Pepperdine University), Henry Munneke (University of Georgia)

Tax Incentives and Housing Investment in Low-Income Neighborhoods

Matthew Freedman (Cornell University)

Entrepreneurship, Small Businesses, and Urban Growth

Yong Suk Lee (Williams College)

Bankruptcy Spillovers between Close Neighbors

Barry Scholnick (University of Alberta)

D ISCUSSANTS:

Ingrid Gould Ellen (New York Uniersity)

Anna Hardman (Tufts University)

Junfu Zhang (Clark University)

Lauren Lambie-Hanson (Federal Reserve Bank of Philadelphia)

Page 6 of 23







January 3-5, 2014

S I

Session Title: Housing Markets and Consumer Preferences


Time: 02:30 PM


Presiding: Edgar Olsen

University of Virginia

Charlottesville, VA

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Peer Effects in the Demand for Housing Quality

Eleonora Patacchini (Syracuse University), Giuseppe Venanzoni (Sapienza University of Rome)

Optimal Voucher Design: Evidence from United States Housing Policy

Peter Ganong (Harvard University), Robert Collinson (Department of Housing and Urban Development)

Using Hedonic and Quasi-Experimental Methods in (Dis)Amenity Valuation with Housing Data: The Case of Communication Towers

Glenn Blomquist (University of Kentucky), Stephen Locke (University of Kentucky)

Revealed Information and the Demand for Hurricane Mitigation Features

Dean Gatzlaff (Florida State University), Kathleen McCullough (Florida State University), Lori Medders (Florida State University), Charles Nyce (Florida State University)

D ISCUSSANTS:

Judy Geyer (Abt Associates)

Michael Eriksen (University of Georgia)

Christopher Parmeter (University of Miami)

Jaren Pope (Brigham Young University)

Page 7 of 23






January 3-5, 2014

S I



Time: 02:30 PM


Presiding: Stuart Gabriel

University of California-Los Angeles

Los Angeles, CA

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Underwriting Standards, Loan Products and Performance: What Have We Learned

Marsha Courchane (Charles River Associates), Leonard Kiefer (Freddie Mac), Peter Zorn (Freddie Mac)

House-Price Expectations, Alternative Mortgage Products, and Default

Jan Brueckner (University of California-Irvine), Paul Calem (Federal Reserve Bank of Philadelphia), Leonard Nakamura (Federal Reserve Bank of Philadelphia)

Time Preferences and Mortgage Default

Jia He (National University of Singapore), Yongheng Deng (National University of Singapore)

Self-Assessed House Prices

Morris Davis (University of Wisconsin), Erwan Quintin (University of Wisconsin)

D ISCUSSANTS:

Stephen Oliner (University of California-Los Angeles)

Danny Ben Shahar (Technion - Israel Institute of Technology)

Peter Zorn (Freddie Mac)

Edward Kung (University of California-Los Angeles)

Page 8 of 23







January 3-5, 2014

S I

Session Title: Securitization and Mortgage Markets


Time: 02:30 PM


Presiding: Nancy Wallace

University of California-Berkeley

Berkeley, CA

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Comparing Securitized and Balance Sheet Loans: Size Matters

Rossen Valkanov (University of California-San Diego), Andra Ghent (Arizona State University)

Real Estate Risk and Hedge Fund Returns

Brent Ambrose (Pennsylvania State University), Charles Cao (Pennsylvania State University), Walter D'Lima (Pennsylvania State University)

Sponsor-Underwriter Affiliation and the Performance of Non-Agency Mortgage Backed Securities

Lan Shi (Peking University (visiting)), Peng Liu (Cornell)

Bid-Ask Spreads and the Pricing of Securitizations: 144a vs. Registered Securitizations

Chester Spatt (Carnegie Mellon University), Burton Hollifield (Carnegie Mellon University), Artem Neklyudov (Carnegie Mellon University)

D ISCUSSANTS:

Richard Stanton (University of California-Berkeley)

Alexei Tchistyi (University of California-Berkeley)

Cindy Soo (University of Michigan)

Tim Landvoigt (Stanford University)

Page 9 of 23







January 3-5, 2014

S I

Session Title: Homeownership

Day: Saturday, January 04, 2014

Time: 08:00 AM


Presiding: Donald Haurin

Ohio State University

Columbus, OH

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Measuring the Benefits of Homeowning: Effects on Children Redux

Gary Painter (University of Southern California), Richard Green (University of Southern California), Sarah Mawhorter (University of Southern California), Michelle White (University of California-San Diego)

The Benefits of Pre-Purchase Homeownership Counseling

Peter Zorn (Freddie Mac), Gabriela Avila (Freddie Mac), Hoa Nguyen (Freddie Mac)

Homeowner-Entrepreneurs, Housing Capital Gains, and Self-Employment

Stuart Rosenthal (Syracuse University), John Harding (University of Connecticut)

Houses, Apartments and Condos: The Governance of Multifamily Housing

Lynn Fisher (University of North Carolina), N. Edward Coulson (Pennsylvania State University)

D ISCUSSANTS:

Thomas Davidoff (University of British Columbia)

Michael Collins (University of Wisconsin)

Steven Bourassa (University of Louisville)

Anthony Yezer (George Washington University)

Page 10 of 23







January 3-5, 2014

S I

Session Title: Urban Development and Transportation


Time: 08:00 AM


Presiding: Jeffrey Lin

Federal Reserve Bank of Philadelphia

Philadelphia, PA

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Vestiges of Transit: Urban Persistence at a Micro Scale

Leah Brooks (Federal Reserve Board), Byron Lutz (Federal Reserve Board)

Making the Move: The Impact of the 1906 San Francisco Disaster on Firm Relocations

James Siodla (University of California-Irvine)

Agglomeration within an Urban Area

Stephen Billings (University of North Carolina-Charlotte), Erik Johnson (Quinnipiac University)

Urban Transport Expansions, Employment Decentralization, and the Spatial Scope of Agglomeration Economies

Nathaniel Baum-Snow (Brown University)

D ISCUSSANTS:

Stephen Redding (Princeton University)

Richard Hornbeck (Harvard University)

William Kerr (Harvard University)

Jeffrey Brinkman (Federal Reserve Bank of Philadelphia)

Page 11 of 23







January 3-5, 2014

S I

Session Title: Government Intervention in Residential Mortgage Markets


Time: 10:15 AM


Presiding: Shane Sherlund

Federal Reserve Board

Washington, DC

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Is the FHA Creating Sustainable Homeownership?

Joseph Tracy (Federal Reserve Bank of New York), Andrew Caplin (New York University), Anna Cororaton (Federal Reserve Bank of New York)

Securitization and the Fixed-Rate Mortgage

James Vickery (Federal Reserve Bank of New York), Andreas Fuster (Federal Reserve Bank of New York)

The Failure of Supervisory Stress Testing: OFHEO’s Risk-Based Capital Model for Fannie Mae and Freddie Mac

Kristopher Gerardi (Federal Reserve Bank of Atlanta), W. Scott Frame (University of North Carolina-Charlotte), Paul Willen (Federal Reserve Bank of Boston)

How the Federal Reserve’s Large-Scale Asset Purchases (LSAPs) Influence Mortgage-Backed Securities (MBS) Yields and U.S. Mortgage Rates

Wayne Passmore (Fedearl Reserve Board), Diana Hancock (Federal Reserve Board)

D ISCUSSANTS:

Neil Bhutta (Federal Reserve Board)

Kamila Sommer (Federal Reserve Board)

Robert Sarama (Federal Reserve Board)

Taylor Nadauld (Brigham Young University)

Page 12 of 23






January 3-5, 2014

S I



Time: 10:15 AM


Presiding: Karen Pence


Washington, DC

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Mortgage Curtailment Behavior

Hong Lee (Louisiana State University), Meagan McCollum (Louisiana State University), Kelley Pace (Louisiana State University)

Did Local Lenders Forecast the Bust? Evidence from the Real Estate Market

Kristle Romero Cortes (Federal Reserve Bank of Cleveland)

Experimental Tests for Discrimination by Mortgage Loan Originators

Andrew Hanson (Marquette University), Zackary Hawley (Texas Christian University), Bo Liu (Georgia State University), Hal Martin (Georgia State University)

The Interest Rate Elasticity of Mortgage Demand: Evidence from Bunching at the Conforming Loan Limit

Andrew Paciorek (Federal Reserve Board), Anthony DeFusco (University of Pennsylvania)

D ISCUSSANTS:

Andra Ghent (Arizona State University)

Andrew Paciorek (Federal Reserve Board)

Elliot Anenberg (Federal Reserve Board)

Manuel Adelino (Duke University)

Page 13 of 23







January 3-5, 2014

S I

Session Title: AREUEA-AEA Joint Panel Discussion: The Role of Regulation in the Housing Market


Time: 02:30 PM

Location: Loews Philadelphia Hotel, Regency Ballroom C2

Presiding: Sumit Agarwal

National University of Singapore

Singapore

[email protected]

ESSION NFORMATION:

P DANEL ISCUSSION:

The Role of Regulation in the Housing Market

PANELISTS:

John Campbell (Harvard University)

Christopher Mayer (Columbia University)

Atif Mian (Princeton University)

Amit Seru (University of Chicago)

Page 14 of 23



January 3-5, 2014

S I

Session Title: Real Estate Values


Time: 02:30 PM


Presiding: Anthony Yezer

George Washington University

Washington, DC

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Explaining House Price Dynamics: Isolating the Role of Non-Fundamentals

David Ling (University of Florida), Thao Le (National University of Singapore), Joseph Ooi (National University of Singapore)

The Myth of the Constant-Quality Home: A New, Unbiased House-Price Index

Anna Amirdjanova (University of California-Berkeley), Richard Stanton (University of California-Berkeley), Nancy Wallace (University of California-Berkeley)

House Price Tiers in Repeat Sales Estimation

Douglas McManus (Freddie Mac)

Local Quantile House Price Indices

Daniel McMillen (University of Illinois, Urbana-Champaign)

D ISCUSSANTS:

William Larson (Bureau of Economic Analysis)

Amanda Ross (West Virginia University)

Brent Smith (Virginia Commonwealth University)

Chao Yue Tian (University of North Carolina)

Page 15 of 23






January 3-5, 2014

S I

Session Title: Agency Problems and Marketing of Real Estate


Time: 02:30 PM


Presiding: Crocker Liu

Cornell University

Ithaca, NY

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis

Kristopher Gerardi (Federal Reserve Bank of Atlanta), Chris Foote (Federal Reserve Bank of Boston), Paul Willen (Federal Reserve Bank of Boston)

Housing Markets with Construction, Screening, and Focused Search

Joseph Williams (Professors Capital)

In-House Transactions in the Real Estate Brokerage Industry: Matching Outcome or Strategic Promotion?

Lu Han (University of Toronto), Seung-Hyun Hong (University of Illinois-Urbana Champaign)

The Home Selling Problem: Theory and Evidence

John Rust (Georgetown University), Antonio Merlo (University of Pennsylvania), Francois Ortalo-Magne (University of Wisconsin-Madison)

D ISCUSSANTS:

Robert Van Order (George Washington University)

John Krainer (Federal Reserve Bank of San Francisco)

Paul Carrillo (George Washington University)

Andrew Caplin (New York University)

Page 16 of 23







January 3-5, 2014

S I

Session Title: AREUEA-AFA Joint Session: Information in Real Estate and Mortgage Markets

Day: Sunday, January 05, 2014

Time: 08:00 AM

Location: Loews Philadelphia Hotel, Regency Ballroom C2

Presiding: Stuart Gabriel

University of California-Los Angeles

Los Angeles, CA

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real-Estate Market

Sumit Agarwal (National University of Singapore), Ithzak Ben-David (Ohio State University), Vincent Yao (Fannie Mae)

Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market

Amit Seru (University of Chicago), Tomasz Piskorski (Columbia University), James Witkin (Columbia University)

Misinformed Speculators and Mispricing in the Housing Market

Alexander Chinco (University of Illinois Urbana-Champaign), Christopher Mayer (Columbia University)

Second Mortgages: Valuation and Implications for the Performance of Structured Financial Products

Walter Torous (Massachusetts Institute of Technology), Kristian Miltersen (Copenhagen School of Business)

D ISCUSSANTS:

Stijn Van Nieuwerburgh (New York University)

Richard Stanton (University of California-Berkeley)

Chester Spatt (Carnegie Mellon University)

Barney Hartman-Glaser (University of California-Los Angeles)

Page 17 of 23







January 3-5, 2014

S I

Session Title: Real Estate Investment Trusts (REITs)


Time: 08:00 AM


Presiding: Yildiray Yildirim

Syracuse University

Syracuse, NY

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Competition, Auctions & Negotiations in REIT Takeovers

Kiplan Womack (Pepperdine University), J. Mulherin (University of Georgia)

Diversification Benefits of REIT Preferred and Common Stock: New Evidence from a Utility based Framework

Andrey Ukhov (Cornell University), Walter Boudry (Cornell University), Jan deRoos (Cornell University)

Property Dispositions and REIT Credit Ratings

Qing Li (National University of Singapore), Masaki Mori (National University of Singapore), Seow Eng Ong (National University of Singapore)

REITs and Market Microstructure: A Comprehensive Analysis of Market Quality

K. Janean Westby-Gibson (University of Memphis), Pawan Jain (Central Michigan University), Mark Sunderman (University of Memphis)

D ISCUSSANTS:

Shaun Bond (University of Cincinnati)

Brad Case (NAREIT)

Xudong An (San Diego State University)

Mehmet Saglam (Princeton University)

Page 18 of 23







January 3-5, 2014

S I

Session Title: Neighborhoods, Amenities, and Education


Time: 10:15 AM


Presiding: Stephen Ross

University of Connecticut

Storrs, CT

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Do Art Galleries Stimulate Redevelopment?

Jenny Schuetz (University of Southern California)

High Stakes in the Classroom, High Stakes on the Street: The Effects of Community Violence on Students' Standardized Test Performance

Johanna Lacoe (University of Southern California), Ingrid Ellen (New York University), Amy Schwartz (New York University), Patrick Sharkey (New York University)

Heterogeneous Peer Effects in Education

Eleonora Patacchini (Syracuse University), Edoardo Rainone (Banca d'Italia and La Sapienza University of Rome), Yves Zenou (Stockholm University)

Gayborhoods: Economic Development and the Concentration of Same-sex Couples in Neighborhoods Within Large American Cities

Janice Madden (University of Pennsylvania), Matt Ruther (University of Colorado)

D ISCUSSANTS:

Gabrielle Fack (Universitat Pompeu Fabra)

Rebecca Diamond (Stanford University)

Adi Mayer (Washington College)

Susane Leguizamon (Western Kentucky University)

Page 19 of 23







January 3-5, 2014

S I

Session Title: Real Estate Market Microstructure


Time: 10:15 AM


Presiding: Joseph Gyourko

University of Pennsylvania

Philadelphia, PA

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

What is the Role of the Asking Price for a House?

William Strange (University of Toronto), Lu Han (University of Toronto)

First Cut is the Deepest: On Optimal Acceptance Strategies in Real Estate

Abdullah Yavas (University of Wisconsin-Madison), Thomas Emmerling (Syracuse University,), Yildiray Yildirim (Syracuse University)

How Many Listings Are Too Many? Agent Listing Inventory and Sales Performance

Bennie Waller (Longwood University), Xun Bian (Longwood University), Geoffrey Turnbull (University of Central Florida), Scott Wentland (Longwood University)

Timing the Housing Market

Todd Sinai (University of Pennsylvania), Cindy Soo (University of Michigan)

D ISCUSSANTS:

Christopher Mayer (Columbia University)

Cindy Soo (University of Michigan)

Andrew Paciorek (Federal Reserve Board)

Andrew Haughwout (Federal Reserve Bank of New York)

Page 20 of 23







January 3-5, 2014

S I

Session Title: Urban Public Policy


Time: 10:15 AM


Presiding: Leah Brooks


Washington, DC

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Florida Stand Your Ground Law and Crime: Did it Make Floridians More Trigger Happy?

Abdul Munasib (Oklahoma State University), Mouhcine Guettabi (University of Alaska-Anchorage)

The Effects of School Impact Fees on Commercial and Residential Land Values

Gregory Burge (University of Oklahoma)

Distributional Effects of the Federal Empowerment Zone Program

Shawn Rohlin (Kent State University), C. Lockwood Reynolds (Kent State University)

Redistribution, Delegation, and Regulators’ Incentives: Evidence from the Clean Air Act

Antonio Bento (Cornell University), Matthew Freedman (Cornell University), Corey Lang (University of Rhode Island)

D ISCUSSANTS:

Erdal Tekin (Georgia State University)

John Anderson (University of Nebraska-Lincoln)

Zackary Hawley (Texas Christian University)

Justin Gallagher (Case Western University)

Page 21 of 23






January 3-5, 2014

S I

Session Title: Housing Markets and Returns


Time: 01:00 PM


Presiding: Paul Carrillo

George Washington University

Washington, DC

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Fear and Loathing in the Housing Market: Evidence from Search Query Data

Chandler Lutz (Copenhagen Business School), Marcelle Chauvet (UC Riverside), Stuart Gabriel (University of California-Los Angeles)

Structural Estimates of Housing Supply Elasticity across Chinese Cities

Hongyu Liu (Tsinghua University), Yuming Fu (National University of Singapore), Siqi Zheng (Tsinghua University)

The Effect of Listing Price Strategy on Transaction Selling Prices

Eli Beracha (University of Wyoming), Michael Seiler (Old Dominion University)

(What) Do Top Performing Real Estate Agents Deliver for their Clients?

Bennie Waller (Longwood University), Geoffrey Turnbulll (University of Central Florida)

D ISCUSSANTS:

Jaren Pope (Brigham Young University)

Jonathan Roghbaum (U.S. Census Bureau)

Benjamin Williams (George Washington University)

C. Lockwood Reynolds (Kent State University)

Page 22 of 23






January 3-5, 2014

S I

Session Title: Urban Economics


Time: 01:00 PM


Presiding: Jan Brueckner

University of California-Irvine

Irvine, CA

[email protected]

ESSION NFORMATION:

P AAPERS & UTHORS:

Tax Reform and Sprawl

Thomas Davidoff (University of British Columbia)

Patterns of Growth in Chinese Cities: Implications of the Land Lease

David Dale-Johnson (University of Alberta), Paul Anglin (University of Guelph), Yanmin Gao (City University of Hong Kong), Guozhong Zhu (Peking University)

Demolition-Forced Moves from Public Housing to Voucher Housing: Effects on Youth’s Long-Term Employment Outcomes

Fredrik Andersson (Office of the Comptroller of the Currency), John Haltiwanger (University of Maryland), Mark Kutzbach (U.S. Census Bureau), Giordano Palloni (University of Maryland), Henry Pollakowski (Harvard University), Daniel Weinberg (U.S. Census Bureau)

City Size and Skill Intensity: Is It All Housing Cost?

Daniel Broxterman (George Washington University), Anthony Yezer (George Washington University)

D ISCUSSANTS:

Donald Haurin (Ohio State University)

Jeffrey Zax (University of Colorado-Boulder)

Michael Eriksen (University of Georgia)

Jeffrey Lin (Federal Reserve Bank of Philadelphia)

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