David P. Glancy

Research Interests: Commercial Real Estate, Banking, Corporate Finance, Macroeconomics

Education: Ph.D., Economics, Brown University

Working Papers:

The 2023 Banking Turmoil and the Bank Term Funding Program (with Ionescu, Klee, Kotidis, Siemer and Zlate)

Working Paper

Determinants of Recent CRE Distress: Implications for the Banking Sector (with  Robert Kurtzman)

Working Paper

Lease Expirations and CRE Property Performance (with J. Christina Wang)

Working Paper

On Commercial Construction Activity’s Long and Variable Lags  (with  Robert Kurtzman and Lara Loewenstein), R&R JUE

Working Paper

Journal Publications:

The Value of Renegotiation Frictions: Evidence from Commercial Real Estate (with  Robert Kurtzman and Lara Loewenstein), Forthcoming

Journal of Financial Intermediation [Journal, Working Paper]

CRE Redevelopment Options and the Use of Mortgage Financing (with  Robert Kurtzman and Lara Loewenstein), Forthcoming

Real Estate Economics [Journal, Working Paper]

Bank Relationships and the Geography of PPP Lending, 2024

Journal of Financial Services Research [Journal, Working Paper]

Recourse as Shadow Equity: Evidence from Commercial Real Estate Loans (with  Robert Kurtzman, Lara Loewenstein, and Joseph Nichols), 2023

Real Estate Economics [Journal, Working Paper]

Intermediary Segmentation in the CRE Market (with John Krainer, Robert Kurtzman, and Joseph Nichols), 2022

Journal of Money, Credit and Banking. [Journal, Working Paper]

How do Capital Requirements Affect Loan Rates? Evidence from High Volatility Commercial Real Estate (with Robert Kurtzman) , 2022

The Review of Corporate Finance Studies. [Journal, Working Paper]

Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks, 2021 

Journal of Banking and Finance.  [Journal, Working Paper]

Short Notes:

What Happens When Banks Tighten C&I Loan Supply? (with Andrew Castro, Felicia Ionescu, and Greg Marchal)

February 2022 FEDS note.

Drivers of Bank Supply of Business Loans (with Andrew Castro, and Felicia Ionescu)

February 2022 FEDS note.

How Did Banks Fund C&I Drawdowns at the Onset of the COVID-19 Crisis? (with Max Gross and Felicia Ionescu)

July 2020 FEDS note.

An Aggregate View of Bank Lending Standards and Demand (with Robert Kurtzman and Rebecca Zarutskie)

May 2020 FEDS note.