SI 2020 Real Estate

Fernando V. Ferreira and Tomasz Piskorski, Organizers

July 22-23, 2020


Conference Code of Conduct

Wednesday, July 22
FORMAT: Each presenter will have 20 minutes to show the research, immediately followed by 10 minutes of Q&A. The moderator will invite presenters' co-authors to address audience questions in the Zoom chat while the presenter is presenting. The moderator may also voice one or two questions from the Zoom chat directly to the presenter during the presentation. During Q&A the moderator will select participants from the Zoom chat to voice their questions
11:00 am
Caitlin S. Gorback, University of Texas at Austin
Benjamin J. Keys, University of Pennsylvania and NBER

Global Capital and Local Assets: House Prices, Quantities, and Elasticities (slides)
Greg Buchak, Stanford University
Gregor Matvos, Northwestern University and NBER
Tomasz Piskorski, Columbia University and NBER
Amit Seru, Stanford University and NBER

iBuyers: Liquidity in Real Estate Markets?
12:00 pm
12:15 pm
Steffen Andersen, Copenhagen Business School
Cristian Badarinza, National University of Singapore
Lu Liu, University of Pennsylvania
Julie Marx, Copenhagen Business School
Tarun Ramadorai, Imperial College London

Reference Dependence in the Housing Market (slides)
Fabian Kindermann, University of Regensburg
Julia Le Blanc, European Commission, Joint Research Centre
Monika Piazzesi, Stanford University and NBER
Martin Schneider, Stanford University and NBER

Learning about Housing Cost: Survey Evidence from the German House Price Boom
1:15 pm
1:45 pm
Roundtable: COVID-19 pandemic, economic downturn, and real estate markets
Michael Fratantoni, Chief Economist of Mortgage Bankers Association
Jacques Gordon, Global Strategist for LaSalle Investment Management
Svenja Gudell, Chief Economist of Zillow Group
2:45 pm
3:00 pm
Nicolas Luis Bottan, Cornell University
Ricardo Perez-Truglia, University of California, Berkeley and NBER

Betting on the House: Subjective Expectations and Market Choices
Haoyang Liu, Federal Reserve Bank of New York
Christopher Palmer, Massachusetts Institute of Technology and NBER

Are Stated Expectations Actual Beliefs? New Evidence for the Beliefs Channel of Investment Demand (slides)
4:00 pm
4:15 pm
Brian J. Asquith, W.E. Upjohn Institute for Employment Research
Evan E. Mast, University of Notre Dame
Davin K. Reed, Federal Reserve Bank of Philadelphia

Supply Shock Versus Demand Shock: The Local Effects of New Housing in Low-Income Areas
Peter Ganong, University of Chicago and NBER
Pascal J. Noel, University of Chicago and NBER

Why Do Borrowers Default on Mortgages? A New Method for Causal Attribution
5:15 pm
Thursday, July 23
Joint session with the Urban group
Session I
9:00 am
Arpit Gupta, New York University
Constantine Kontokosta, New York University
Stijn Van Nieuwerburgh, Columbia University and NBER

Take the Q Train: Value Capture of Public Infrastructure Projects (slides)
Jason Barr, Rutgers University
Jan Brueckner, University of California at Irvine
Remi Jedwab, George Washington University

Cities Without Skylines: Worldwide Building-Height Gaps and their Implications (slides)
Session II
10:00 am
Jacob L. Vigdor, University of Washington and NBER
Alanna F. Williams, University of Washington

The Price of Protection: Landlord-Tenant Regulations and the Decline in Rental Affordability, 1960-2017
Morris Davis, Rutgers University
William Larson, U.S, Department of the Treasury
Stephen D. Oliner, American Enterprise Institute
Jessica Shui, Federal Housing Finance Agency

The Price of Residential Land for Counties, ZIP codes, and Census Tracts in the United States (slides)
Session III
11:00 am
Fernando V. Ferreira, University of Pennsylvania and NBER
Maisy Wong, University of Pennsylvania and NBER

Neighborhood Choice, Information, and the Value of Amenities (slides)
Nathaniel Baum-Snow, University of Toronto
Lu Han, University of Wisconsin at Madison

The Microgeography of Housing Supply
12:00 pm