SI 2020 Real Estate

Fernando V. Ferreira and Tomasz Piskorski, Organizers

July 22-23, 2020

on Zoom.us

Summer Institute 2020 master schedule

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	Break
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	Break
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	Break
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	Break
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	Adjourn
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	Adjourn