Research

Working Papers and Ongoing Projects :

"Borrowing and Spending in the Money: Debt Substitution and the Cash-out Refinance Channel of Monetary Policy", with Eileen van Straelen and Tess Scharlemann, September 2023

"Housing Market Congestion: the Effects of New For-Sale Supply on House Prices and Sale Hazards", with Daniel Ringo, June 2024

"Work-From-Home and Commercial Real Estate: Effects on Bank Balance Sheets, Credit Availability, and the Real Economy", with You Suk Kim and Erica Moszkowski.

Publications:

"Volatility in Home Sales and Prices: Supply or Demand?" , w/ Daniel Ringo, Journal of Urban Economics, January 2024.

"The Propagation of Demand Shocks Through Housing Markets", w/ Daniel Ringo, American Economic Journal: Macroeconomics, July 2022.

"Social Learning and Local Consumption Amenities: Evidence from Yelp", w/ Chun Kuang and Ed Kung, Journal of Industrial Economics, May 2022.

"Endogenous Sources of Volatility in Housing Markets: The Joint Buyer-Seller Problem", w/ Patrick Bayer, International Economic Review, March 2020.

"Measuring Mortgage Credit Availability: A Frontier Estimation Approach", w/ Aurel Hizmo, Ed Kung, and Raven Molloy, Journal of Applied Econometrics, September 2019.

"Can More Housing Supply Solve the Affordability Crisis? Evidence from a Neighborhood Choice Model,'' w/ Ed Kung, Regional Science and Urban Economics (Special Issue on Housing Affordability), January 2020.

"A More Timely House Price Index,'' w/ Steven Laufer, Review of Economics and Statistics, October 2017.

"Information Technology and Product Variety in the City: The Case of Food Trucks,'' w/ Ed Kung, Journal of Urban Economics, November 2015.

"Information Frictions and Housing Market Dynamics,"  International Economic Review, October 2016.

"Estimates of the Size and Source of Price Declines due to Nearby Foreclosures,'' w/ Ed Kung, American Economic Review, August 2014.

"Loss Aversion, Equity Constraints and Seller Behavior in the Real Estate Market," Regional Science and Urban Economics, January 2011.

Older Working Papers:

"Interest Rates and Housing Market Dynamics in a Housing Search Model", w/ Ed Kung, September 2018