Working Papers and Ongoing Projects :
"Work-From-Home, Commercial Real Estate Risk and Credit Supply: Evidence from a Large Sample of Bank Loan Portfolios", with You Suk Kim and Erica Moszkowski, April 2025. Revise and Resubmit, Journal of Financial Economics.
"Housing Market Congestion: the Effects of New For-Sale Supply on House Prices and Sale Hazards", with Daniel Ringo, March 2026. Revise and Resubmit, Journal of Urban Economics.
"Mortgage Rate Lock and Household Spending", with Eileen van Straelen.
Publications:
"Borrowing and Spending in the Money: Debt Substitution and the Cash-out Refinance Channel of Monetary Policy", with Eileen van Straelen and Tess Scharlemann, American Economic Review, November 2025.
"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