Ph.D., economics, Yale University, 1997

M. Phil., economics, Yale University, 1995

M.A., economics, Yale University, 1994

B.A., economics, Williams College, 1990

 

Federal Reserve Bank of Boston

Senior Economist and Policy Advisor, 2007-
Senior Economist, 2004-2006

Massachusetts Institute of Technology

Visiting Associate Professor of Economics,
Department of Economics, Fall 2006

National Bureau of Economic Research

Faculty Research Fellow, 2004-

University of Chicago

Assistant Professor, Graduate School of Business, 2000-2004

Princeton University

Assistant Professor, Department of Economics, 1997-2000

"Reducing Foreclosures." with Christopher Foote, Kristopher S. Gerardi and Lorenz Goette. NBER Macroeconomics Annual 2009, forthcoming.

"The Impact of Deregulation and Financial Innovation on Consumers: The Case of the Mortgage Market." with Kristopher S. Gerardi and Harvey Rosen. Journal of Finance, forthcoming.

"Subprime Mortgages, Foreclosures, and Urban Neighborhoods." with Kristopher S. Gerardi. BE Journal of Economic Analysis and Policy, forthcoming.

"Making Sense of the Subprime Crisis." with Kristopher S. Gerardi, Andreas Lehnert and Shane Sherlund. Brookings Papers on Economic Activity, forthcoming.

"Just the Facts: An Initial Analysis of the Subprime Crisis." with Christopher Foote, Kristopher S. Gerardi and Lorenz Goette. 2008. Journal of Housing Economics, 17(4): 291-305.

"Negative Equity and Foreclosure: Theory and Evidence," with Christopher Foote and Kristopher S. Gerardi. 2008. Journal of Urban Economics, 64(2): 234-245.

"Social Security and Unsecured Debt" with Erik Hurst. 2007. Journal of Public Economics, 91: 1273-1297

“Borrowing Costs and the Demand for Equity over the Life Cycle.” with Steven J. Davis and Felix Kubler. The Review of Economica and Statistics, 88(2): 348-362. A previous version of this paper appeared as FRB Boston Working Papers Series, paper no. 05-7 (2005).

“Educational Opportunity and Income Inequality.” with Igal Hendel and Joel Shapiro. 2005. Journal of Public Economics 89: 841-870. A previous version of this paper appeared as FRB Boston Public Policy Discussion Papers Series, paper no. 04-5 (2004).

 

 

"Foreclosure Externalities: Some New Evidence," with Kristopher S. Gerardi, Eric Rosenblatt and Vincent W. Yao. FRB Boston Public Policy Discussion Paper Series, paper no. 12-5, (2012).

"Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis," with Christopher L. Foote and Kristopher S. Gerardi. FRB Boston Public Policy Discussion Paper Series, paper no. 12-2, (2012).

"Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process," with Kristopher Gerardi and Lauren Lambie-Hanson. FRB Boston Public Policy Discussion Paper Series, paper no. 11-9, (2011).

"A Profile of the Mortgage Crisis in a Low-and-Moderate-Income Community," with Lynn Fisher and Lauren Lambie-Hanson. FRB Boston Public Policy Discussion Paper Series, paper no. 10-6, (2010).

"Reasonable People Did Disagree: Optimism and Pessimism About the U.S. Housing Market Before the Crash," with Kristopher S. Gerardi and Christopher L. Foote. FRB Boston Public Policy Discussion Paper Series, paper no. 10-5, (2010).

"$1.25 Trillion is Still Real Money: Some Facts About the Effects of the Federal Reserve's Mortgage Market Investments," with Andreas Fuster. FRB Boston Public Policy Discussion Paper Series, paper no. 10-4 (2010)

"How Effective Were the Federal Reserve Emergency Liquidity Facilities? Evidence from the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility," with Burcu Duygan-Bump, Patrick M. Parkinson, Eric S. Rosengren and Gustavo A. Suarez. FRB Boston QUA Working Paper Series, paper no. 10-3 (2010)

"What Explains Differences In Foreclosure Rates? A Response to Piskorski, Seru, and Vig," with Manuel Adelino and Kristopher Gerardi. FRB Boston Working Paper Series, paper no. 10-2 (2010)

"Insuring Consumption Using Income-Linked Assets," with Andreas Fuster. FRB Boston Working Paper Series, paper no. 10-1 (2010)

"A Proposal to Help Distressed Homeowners: A Government Payment-Sharing Plan," with Chris Foote, Jeff Fuhrer and Eileen Mauskopf. FRB Boston Public Policy Brief Series, paper no. 09-1 (2009)

"Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures, and Securitization," with Manuel Adelino and Kristopher S. Gerardi. FRB Boston Public Policy Discussion Paper Series, no. 09-4 (2009)

"Reducing Foreclosures," with Christopher Foote, Kristopher S. Gerardi and Lorenz Goette. FRB Boston Public Policy Discussion Papers Series, paper no. 09-2 (2009).

"Making Sense of the Subprime Crisis," with Kristopher S. Gerardi, Andreas Lehnert, and Shane M. Sherland. FRB Boston Public Policy Discussion Papers Series, paper no. 09-1 (2009)

“Subprime Outcomes: Risky Mortgages, Homeownership Experiences, and Foreclosures,” with Kristopher S. Gerardi and Adam Hale Shapiro. FRB Boston Working Papers Series, paper no. 07-15 (2007).

“The Theory of Life-Cycle Saving and Investing,” with Zvi Bodie and Jonathan Treussard. FRB Boston Public Policy Discussion Papers Series, paper no. 07-3 (2007).

“Collateralized Borrowing and Life-Cycle Portfolio Choice,” with Felix Kubler. FRB Boston Public Policy Discussion Papers Series, paper no. 06-4 (2006).

“Incomplete Markets and Trade.” FRB Boston Working Papers Series, paper no. 04-8 (2004).

Referee: Review of Economic Studies, Econometrica, American Economic Review, Journal of Economic Theory, Journal of Political Economy, National Science Foundation, Review of Economic Dynamics, Journal of International Economics, Review of Financial Studies, Review of Economic Dynamics, Journal of Economic Dynamics and Control, BE Journals in Macroeconomics.

Recent seminar presentations: Boston College, Boston University, University of Chicago, Federal Reserve Board, Federal Reserve Banks of Boston, Chicago, Cleveland, and New York, Harvard, Northwestern, University of Venice, Wharton.

Recent conference presentations: American Economic Association Meetings (2007),Federal Reserve Macro System Meeting (Spring, Fall 2006), SED Meetings (Summer 2006), Econometric Sociewty Meetings (Summer 2006), NBER Summer Institute (Summer 2006), Federal Reserve Micro System Meeting (Spring 2006), Cowles-CARESS GE Conference (Spring 2006), Western Finance Association (Summer 2004).