NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2006

Economics of Real Estate and Local Public Finance

Joe Gyourko, Chris Mayer, and Todd Sinai, Organizers

Royal Sonesta Hotel

Somerset Room

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

July 25 and 26, 2006

PROGRAM

TUESDAY, JULY 25:
12:00 pm	Lunch
1:00 pm	BYRON LUTZ, Federal Reserve Board
	How Elastic is Residential Capital Investment to Property Taxation? Evidence from Court-Induced Tax Changes
	Discussant: THOMAS DAVIDOFF, UC, Berkeley
2:00 pm	FRANCOIS ORTALO-MAGNE, University of Wisconsin
	ANDREA PRAT, London School of Economics
	The Political Economy of Housing Supply
	Discussant: ALBERT SAIZ, University of Pennsylvania
3:00 pm	Break
3:30 pm	NATHAN ANDERSON, University of Illinois-Chicago
	Voting, Opportunity Costs, and Property Taxes
	Discussant: BRIAN KNIGHT, Brown University and NBER
4:30 pm	JACOB VIGDOR, Duke University and NBER
	Does Urban Decay Harm the Poor?
	Discussant: ERZO LUTTMER, Harvard University and NBER
5:30 pm	Adjourn
6:00 pm	Group dinner at Legal Seafood, Kendall Sq., 5 Cambridge Center, Cambridge, MA
WEDNESDAY, JULY 26:
8:00 am	Coffee and Pastries
8:30 am	CHRIS MAYER, Columbia University and NBER
	YINGJIN HILA GAN, Lehman Brothers
	Agency Conflicts, Asset Substitution, and Securitization
	Discussant: SHERIDAN TITMAN, University of Texas and NBER
9:30 am	Break
10:00 am	CHRIS DOWNING, Rice University
	DWIGHT JAFFE and NANCY WALLACE, UC, Berkeley
	Asset Indivisibility, Security Design, and Asset Quality
	Discussant: NENG WANG, Columbia University and NBER
11:00 am	LEIGH LINDEN, Columbia University
	JONAH ROCKOFF, Columbia University and NBER
	There Goes the Neighborhood? Estimates of the Impact of Crime Risk on Property Values from Megan’s Laws
	Discussant: BRIAN JACOB, Harvard University and NBER
12:00 n	Lunch
1:00 pm	MOHAMMAD ARZAGHI, Brown University
	J. VERNON HENDERSON, Brown University and NBER
	Networking off Madison Avenue
	Discussant: WILLIAM STRANGE, University of Toronto
2:00 pm	EDWARD GLAESER, Harvard University and NBER
	JOE GYOURKO, University of Pennsylvania and NBER
	Housing Cycles
	Discussant: TODD SINAI, University of Pennsylvania and NBER
3:00 pm	Break
3:30 pm	LEAH BROOKS, McGill University
	Volunteering to be Taxed: Business Improvement Districts and the Extra-Governmental Provision of Public Safety
	Discussant : ROBERT INMAN, University of Pennsylvania and NBER
4:30 pm	Adjourn
06/17/06