NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2007

Economics of Real Estate and Local Public Finance

Joe Gyourko, Chris Mayer, and Todd Sinai, Organizers

July 24 and 25, 2007

Royal Sonesta Hotel

Skyline ABC

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

PROGRAM

TUESDAY, JULY 24:
12:00 n	Lunch
1:00 pm	GILLES DURANTON, University of Toronto
	LAURENT GOBILLON, Institut National d’Etudes Demographiques
	HENRY OVERMAN, London School of Economics
	Assessing the Effects of Local Taxation Using Microgeographic Data
	Discussant: C. FRITZ FOLEY, Harvard University and NBER
2:00 pm	PATRICK BAYER, Duke University and NBER
	ROBERT MCMILLAN, University of Toronto
	ALVIN MURPHY, Duke University
	CHRISTOPHER TIMMINS, Duke University
	A Dynamic Model of the Housing Market with a New Test for Market Efficiency
	Discussant: EDWARD GLAESER, Harvard University and NBER
3:00 pm	Break
3:30 pm	STIJN VAN NIEUWERBURGH, New York University and NBER
	PIERRE-OLIVIER WEILL, UC, Los Angeles
	Why Has House Price Dispersion Gone Up?
	Discussant: JOSEPH GYOURKO, University of Pennsylvania and NBER
4:30 pm	THOMAS CHANEY, University of Chicago and NBER
	DAVID SRAER, CREST-INSEE
	DAVID THESMAR, HEC Paris
	The Corporate Wealth Effect: From Real Estate Shocks to Corporate Investment
	Discussant: MARK GARMAISE, UC Los Angeles
5:30 pm	Adjourn
6:00 pm	Group dinner
	Legal Seafoods, Kendall Sq., 5 Cambridge Center, Cambridge, MA
WEDNESDAY, JULY 25
8:00 am	Coffee and Pastries
8:30 am	LEAH PLATT BOUSTAN, UC, Los Angeles and NBER
	ROBERT MARGO, Boston University and NBER
	Going Postal: What Black Employment in the Postal Service Reveals About the Increasing Cost of Racial Segregation, 1940-2000
	Discussant: NATHANIEL BAUM-SNOW, Brown University
9:30 am	Break
10:00 am	MARIGEE BACOLOD, UC,Irvine
	BERNARDO BLUM and WILLIAM STRANGE, University of Toronto
	Skills in the City
	Discussant: JESSE ROTHSTEIN, Princeton University and NBER
11:00 am	EDWARD GLAESER, Harvard University and NBER
	GIACOMO PONZETTO, Harvard University
	Did the Death of Distance Hurt Detroit and Help New York?
	Discussant: JOHN QUIGLEY, UC, Berkeley
12:00 n	Lunch
1:00 pm	KRISTOPHER GERARDI, Federal Reserve Bank of Boston
	HARVEY ROSEN, Princeton University and NBER
	PAUL WILLEN, Federal Reserve Bank of Boston
	Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market
	Discussant: JOHN CAMPBELL, Harvard University and NBER
2:00 pm	TOMASZ PISKORSKI, Columbia University
	ALEXEI TCHISTYI, New York University
	Optimal Mortgage Design
	Discussant: DWIGHT JAFFEE, UC, Berkeley
3:00 pm	Break
3:30 pm	STUART GABRIEL, UC, Los Angeles
	STUART ROSENTHAL, Syracuse University
	Secondary Markets, Risk, and Access to Credit: Evidence from the Mortgage Market
	Discussant: Andreas Lehnert, Federal Reserve Board
4:30 pm	Adjourn

7/20/07