Frictional and Speculative Vacancies: The Effects of an Empty Home Tax (with Derek Stacey and Hong Chen)
Breaking the Charm: How Odd Pricing Fails in Housing Markets (with Sridhar Moorthy and Ben Sand)
Can Stay-at-Home Orders Create a Pandemic Housing Boom? (with Alina Arefeva, Shenwei Guo and Victor Ortego-Marti)
Measuring the Thinness of Real Estate Markets (with David Genesove)
Employment Networks in the Professions (with Robert Miller)
Cool Cities: The Value of Urban Trees (with Stephan Heblich, Chris Timmins & Yanos Zylberberg) American Economic Review: Insights (2025), forthcoming
Winning Teams or Winning Pay? The Impact of Team Quality on Fund Manager Compensation (with Galit Ben Naim and Stanislav Sokolinski) Journal of Financial and Quantitative Analysis (2025), forthcoming
To Own or To Rent? The Effects of Transaction Taxes on Housing Markets (with Rachel Ngai & Kevin Sheedy) Review of Economic Studies (2025), Accepted
Cash is King? Understanding Financing Risk from Housing Markets (with Seung-Hyun Hong) Review of Finance (2024)
The Microgeography of Housing Supply (with Nate Baum-Snow) Journal of Political Economy (2023)
housing supply estimates (dta)
replication data and code (complete replication package is here)
The Effects of A Targeted Financial Constraint on the Housing Market (with Ben Sand, Chandler Lutz and Derek Stacey) Review of Financial Studies 2021, 34(8), 3742–3788.
Housing Price and Fundamentals in A Transition Economy -- the Case of the Beijing Market (with Bing Han and Guozhong Zhu) International Economic Review 2018 59(3),1653-1677.
The Effects of a Subway on House Price: Evidence from Shanghai (with Zhengyi Zhou, Hong Chen and Anming Zhang) Real Estate Economics, 2019
Understanding In-House Transactions in the Real Estate Brokerage Industry (with Seung Hyun Hong), Rand Journal of Economics, 2016 47(4),1057-1086.
What is the Role of the Asking Price for a House? (with Will Strange), Journal of Urban Economics, 2016, 93, 115-130.
The Microstructure of Housing Markets: Search, Bargaining, and Brokerage (with Will Strange) in Duranton, Henderson, and Strange (eds), Handbook of Regional and Urban Economics, 2015.
Bidding Wars for Houses (with Will Strange), Real Estate Economics, 2014, 41(3). (Mill’s Prize for the Best Paper in Real Estate Economics)
Understanding the Puzzling Risk-Return Relationship for Housing, Review of Financial Studies, 2013 26(4), 877-928.
A Spatial Look at Housing Boom and Bust Cycles (with David Genesove), 2013, in Glaeser and Sinai (eds.), Housing Markets and the Financial Crisis, University of Chicago Press.
Search and Matching in the Housing Markets (with David Genesove), Journal of Urban Economics, 2012, 72, 31-45.
Testing Cost Inefficiency under Free Entry in the Real Estate Brokerage Industry (with Seung Hyun Hong), Journal of Business and Economic Statistics, 2011, 29(4), 564-578.
The Effects of House Price Uncertainty on the Life-Cycle Housing Demand, Review of Financial Studies, 2010, 23, (lead article), 3889-3928.
Hedging House Price Risk in the Presence of Lumpy Transaction Costs, Journal of Urban Economics, 2008, 64, 270-287.