Research

Testimony before the Senate Banking Committee, July 16, 2009.

A Proposal to Help Distressed Homeowners: A Government Payment‐Sharing Plan by Chris Foote (Boston Fed), Jeff Fuhrer (Boston Fed), Eileen Mauskopf (Board of Governors) and Paul Willen (Boston Fed)

Recent Papers    

1. Why Don't Lenders Renegotiate More Mortgages? Redefaults, Self-Cures and Securitization with Manuel Adelino and Kris Gerardi.
2. Reducing Foreclosures, with Kristopher Gerardi, Chris Foote and Lorenz Goette. Forthcoming in the NBER Macro Annual 2009
3. "The Impact of Deregulation and Financial Innovation on Consumers:  The Case of the Mortgage Market" with Kristopher Gerardi and Harvey Rosen. 2009.  Forthcoming in the Journal of Finance
4. "Making Sense of the Subprime Crisis" with Kristopher S. Gerardi, Andreas Lehnert, and Shane M. Sherland. FRB Boston Public Policy Discussion Papers Series, paper no. 09-1.  Forthcoming in Brookings Papers on Economic Activity.
   
5. “Subprime Mortgages, Foreclosures, and Urban Neighborhoods" with Kristopher Gerardi. FRB Boston Public Policy Discussion Papers Series, paper no. 08-6. 2008.  Forthcoming in BE Journal in Economic Analysis and Policy.

For more papers, go here.


Selected Recent Presentations  If you want to use the material from these slides in a paper or presentation, feel free to do so.  All I ask is that you do attribute them to me or to the Boston Fed.

1. IMF Audioconference Presentation (with overlays) October 21, 2009. Printable Version (without overlays)
2. New Hampshire and Vermont Bankeers' Associations, Stoweflake Resort, Stowe, VT. September 11, 2009.
3. Why Don't Lenders Renegotiate More Home Mortgages?, New York Fed, July 27, 2009.
   
4. LSE Housing Conference, London, May 19, 2009.
5. Taubman Center at Harvard, Cambridge, MA, May 4, 2009.
6. UCLA, Los Angeles, CA, May 1, 2009
7. Harvard Business School,  Boston, MA, April 15, 2009.
8. Kennedy School, Harvard Cambridge, MA, March 19, 2009.

For more presentations, go here.

Biographical information

Paul S. Willen
Senior Economist and Policy Advisor
Research Department
Federal Reserve Bank of Boston
T: 617-973-3149
Paul.Willen@bos.frb.org

Positions

1. Federal Reserve Bank of Boston
1. Senior Economist and Policy Advisor, 2007-
2. Senior Economist, 2004-2006
2. MIT: Visiting Associate Professor of Economics, Department of Economics, Fall 2006, 2007, 2008.
3. National Bureau of Economic Research: Faculty Research Fellow, 2004-
4. University of Chicago, Graduate School of Business: Assistant Professor, 2000-2004.
5. Princeton University, Department of Economics: Assistant Professor, 1997-2000.