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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2011

 

Economics of Real Estate and Local Public Finance

 

Joe Gyourko, Chris Mayer and Todd Sinai, Organizers

 

July 26 - 27, 2011

 

Royal Sonesta Hotel

Skyline Suites

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

 

PROGRAM

 

Tuesday, July 26:

 

 

11:00 am

Andrew Haughwout, Federal Reserve Bank of New York

 

Matthew A. Turner, University of Toronto

 

Wilbert van der Klaauw, Federal Reserve Bank of New York

 

Land use regulation and welfare

 

 

 

Discussant: Vernon Henderson, Brown University and NBER

 

 

12:00 n

Lunch

 

 

1:00 pm

Leah Brooks, University of Toronto

 

Byron Lutz, Federal Reserve Board

 

Do We Need Eminent Domain? An Empirical Investigation of Urban Land Assembly

 

 

 

Discussant: Edward Glaeser, Harvard University and NBER

 

 

2:00 pm

Dennis Epple, Carnegie Mellon University and NBER

 

Judy Geyer, Carnegie Mellon University

 

Holger Sieg, University of Pennsylvania and NBER

 

Estimating a Model of Excess Demand for Public Housing

 

 

 

Discussant: Erzo Luttmer, Dartmouth College and NBER

 

 

3:00 pm

Break

 

 

3:30 pm

Panle Jia, Massachusetts Institute of Technology and NBER

 

Parag Pathak, Massachusetts Institute of Technology and NBER

 

The Costs of Free Entry: An Empirical Study of Real Estate Agents in Greater Boston

 

 

 

Discussant: Lu Han, University of Toronto

 

 

4:30 pm

Adjourn

 

 

6:00 pm

Group Dinner: Legal Seafoods at Kendall Square

 

 

Wednesday, July 27:

 

 

8:00 am

Continental Breakfast

 

 

8:30 am

Brian Melzer, Northwestern University

 

Mortgage Debt Overhang: Reduced Investment by Homeowners with Negative Equity

 

 

 

Discussant: Joseph Tracy, Federal Reserve Bank of New York

 

 

9:30 am

Break

 

 

10:00 am

Richard Stanton, University of California at Berkeley

 

Nancy Wallace, University of California at Berkeley

 

CMBS Subordination, Ratings Inflation, and Regulatory-Capital Arbitrage

 

 

 

Discussant: Maisy Wong, University of Pennsylvania

 

 

11:00 am

Fernando Ferreira, University of Pennsylvania and NBER

 

Joseph Gyourko, University of Pennsylvania and NBER

 

Anatomy of the Housing Boom in U.S. Neighborhoods and Metropolitan Areas, 1993-2009

 

 

 

Discussant: Alvin Murphy, Washington University in St. Louis

 

 

12:00 n

Lunch

 

 

1:00 pm

Sumit Agarwal, Federal Reserve Bank of Chicago

 

Gene Amromin, Federal Reserve Bank of Chicago

 

Itzhak (Zahi) Ben-David, Ohio State University

 

Serdar Dinc, Massachusetts Institute of Technology

 

The Politics of Mortgage Foreclosures

 

 

 

Discussant: Brian Knight, Brown University and NBER

 

 

2:00 pm

Ingrid Gould Ellen, New York University

 

Johanna Lacoe, New York University

 

Claudia Sharygin, New York University

 

Do Foreclosures Cause Crime??

 

 

 

Discussant: Discussant: Nathaniel Baum-Snow, Brown University and NBER

 

 

3:00 pm

Break

 

 

3:30 pm

Arthur Korteweg, Stanford University

 

Morten Sorensen, Columbia University and NBER

 

Estimating House Prices, LTVs, and Foreclosure Behavior

 

 

 

Discussant: Karen Pence, Federal Reserve Board

 

 

4:30 pm

Adjourn