Contact Information
202-452-3325
andreas.lehnert@frb.gov

Fields of Interest
Banking and Financial Institutions
Consumption
Real Estate

Education
Ph.D., Economics, University of Chicago, 1998
M.Sc., Economics, London School of Economics and Political Science, 1992
B.A., Mathematics, Trinity University, 1991

Professional Experience
Board of Governors of the Federal Reserve System, 1998-present

Selected Publications

• ''Personal Bankruptcy and Credit Market Competition'' (with Astrid A. Dick), Journal of Finance (forthcoming).
• ''Residential Mortgages,'' in Allen Berger, Phil Molyneux, and John Wilson, eds., Oxford Handbook of Banking. Oxford, UK: Oxford University Press, Forthcoming.
• ''Making Sense of the Subprime Crisis'' (with Kristopher Gerardi, Shane M. Sherlund, and Paul S. Willen), Brookings Papers on Economic Activity (Fall 2008), pp. 69-145.
• ''The Rent-Price Ratio for the Aggregate Stock of Owner-Occupied Housing'' (with Morris Davis and Robert F. Martin), Review of Income and Wealth, vol. 54 (2008), pp. 279-284.
• ''GSEs, Mortgage Rates, and Secondary Market Activities'' (with Wayne Passmore and Shane M. Sherlund), Journal of Real Estate Finance and Economics, vol. 36 (April 2008), pp. 279-284.
• ''Consumption, Debt, and Portfolio Choice: Testing the Effects of Bankruptcy Law'' (with Dean Maki), in Sumit Agarwal and Brent Ambrose, eds., Financial Instruments for Households: Credit Usage from Mortgages to Credit Cards. New York: Palgrave Macmillan, 2007.
• ''Comment On: An Options-Based Approach to Evaluating the Risk of Fannie Mae and Freddie Mac'' (with Wayne Passmore), Journal of Monetary Economics, vol. 53 (2006), pp. 177-182.
• ''Mutual Funds and the U.S. Equity Market'' (with Eric Engen), Federal Reserve Bulletin, vol. 86 (December 2000), pp. 797-812.
• ''Liquidity Constraints and Incentive Contracts'' (with Robert M. Townsend and Ethan Ligon), Macroeconomic Dynamics, vol. 3 (1999), pp. 1-47.
• The Incentives of Mortgage Servicers: Myths and Realities (with Larry Cordell, Karen Dynan, Nellie Liang, and others), Finance and Economics Discussion Series 2008-46. Washington: Board of Governors of the Federal Reserve System, 2008.
• Asset Pooling, Credit Rationing, and Growth , Finance and Economics Discussion Series 1998-52. Washington: Board of Governors of the Federal Reserve System, 1998.