I am the Director of the Research Seminar in Quantitative Economics at the University of Michigan. My research focuses on macroeconomics, urban and regional economics, and mortgage finance. Links to my papers are below.


Economic Effects of Medicaid Expansion in Michigan, with John Ayanian, Donald Grimes, and Helen Levy, New England Journal of Medicine, forthcoming.
        Medicaid expansion in Michigan is estimated to create more than 30,000 jobs per year and to produce a net positive effect on the state                budget each year from fiscal 2016 to 2021. 

Working Papers:

Are Entry Wages Really (Nominally) Flexible?, with Matthew Hall and Joshua Montes.
        No, entry wages simply appear flexible because of composition bias.

Establishments with greater measured downward nominal wage rigidity exhibit higher layoff rates, and lower quit and hire rates.
Homeowners' misperceptions regarding movements in house prices are associated with variation in sales volumes in the housing market.
An estimated DSGE search and matching model of the housing market suggests that a model of competitive search fits the housing market time series data better than a random search model with Nash bargaining.

Urban and Regional Economics:
Metropolitan Land Values and Housing Productivity, with David Albouy (revisions requested, Review of Economics and Statistics).
Using a database of land sales to construct an index of metropolitan land values implies that land accounts for approximately one-third of housing costs. The increase in housing costs associated with greater regulation appears to outweigh any benefits from improved quality-of-life.

The Distribution of Urban Land Values: Evidence from Market Transactions, with David Albouy.
Land values measured from market transactions are consistent with several predictions of the standard monocentric city model. The estimates suggest land receives approximately seven percent of national income and the cost elasticity with respect to urban population is about fourteen percent.

Housing Demand, Cost-of-Living Inequality, and the Affordability Crisis, with David Albouy and Yingyi Liu.
The share of household expenditures on housing has risen since 1970, and expenditure shares on housing are higher in areas where housing is more expensive. Those patterns are inconsistent with the assumption of Cobb-Douglas preferences over housing and other goods.

Mortgage Finance:
Do Large-Scale Refinancing Programs Reduce Mortgage Defaults? Evidence From a Regression Discontinuity Design, with Jeffrey Perry (revisions requested, American Economic Journal: Economic Policy).
           A regression discontinuity design indicates that reducing mortgage payment size by 1 percent lowers conditional default rates by 2.75 percent.

Modeling the Budgetary Effects of FHA's Single Family Mortgage Insurance (short version here), with Francesca Castelli, Damien Moore, and Jeffrey Perry (revisions requested, Cityscape).
A background paper explaining how CBO estimates the budgetary costs of FHA's single family mortgage insurance. Includes a discussion of the difference between the budgetary and fair-value costs of FHA insurance.