Haas Ph.D. Program
Faculty
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Robert H. Edelstein Professor |
Ph.D. from Harvard University in economics
Research: urban real estate economics and urban financial problems; property taxation and the role of the public sector; inter-linkages, securitization and globalization of real estate asset markets; design of optimal mortgage debt instruments and variable-rate mortgages; macroeconomic determinants of housing construction; impacts of inflation and deflation on real estate values; determinants of US and international real estate asset cycles
Publication Highlights: "How Does Appraisal Smoothing Bias Real Estate Returns Measurement?" with Daniel Quan, February 2006 Journal of Real Estate Finance & Economics
"Ownership Dynamics of REITs," with Branko Urosevic and Nicholas Wonder, June 2005 Journal of Real Estate Finance & Economics
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Robert W. Helsley
Professor and Chair in Real Estate Development |
Ph.D. from Princeton University in economics
Research: knowledge sharing and innovation in cities, gated communities and the economic geography of crime, social interactions and urban development, the economics of "private governments", the implications of outsourcing for urban and regional development, building height contests and overbuilding in commercial property markets
Publication Highlights: "Agglomeration, Opportunism and the Organization of Production," with W.C. Strange, 2007 Journal of Urban Economics
"Mixed Markets and Crime," with W.C. Strange, Journal of Public Economics, 89, pp. 1251-1275, 2005
"Interactions and Urban Spacial Structure," with W.C. Strange, Journal of Economic Geography, 7, pp.119-138, March 2007
"A game-theoretic analysis of skyscrapers," with W.C. Strange, Journal of Urban Economics, 64, pp. 49-64, 2008
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Dwight M. Jaffee Willis Booth Professor of Banking, Finance, and Real Estate |
Ph.D. from Massachusetts Institute of Technology in economics
Research: real estate finance, asset-backed securitization, Fannie Mae and Freddie Mac, catastrophe insurance
Publication Highlights: "The Interest Rate Risk of Fannie Mae and Freddie Mac," Journal of Financial Services, 2003
“Is the Market for Mortgage Backed Securities a Market for Lemons?” with Chris Downing and Nancy Wallace, forthcoming Review of Financial Studies
""Non-Diversification Traps in Markets for Catastrophic Risk," with J. Walden and R. Ibragimov, March 2009 Review of Financial Studies
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John Quigley I. Donald Terner Distinguished Professorship in Affordable Housing and Urban Policy |
AM, Ph.D. from Harvard University in economics
Research: integration of housing and financial markets, municipal bond market, low wage labor markets, price measurement
Publication Highlights :“Comparing Wealth Effects: The Stock Market versus the Housing Market,” with Karl E. Case and Robert Shilled, 2005 Advances in Macroeconomics
"Regulation and the High Cost of Housing in California," with Steven Raphael, May 2005 American Economic Review
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Alexei Tchisty Assistant Professor |
Ph.D. from Stanford University in Business Administration
Research: mortgages, mortgage backed securities, financial innovations, security design, dynamic contracting, agency theory and corporate finance
Publication Highlight: “Optimal Mortgage Design”, with Tomasz Piskorski, working paper, UC Berkeley
“Stochastic House Appreciation and Optimal Mortgage Lending”, with Tomasz Piskorski, working paper, UC Berkeley
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Nancy E. Wallace Professor California Chair of Real Estate and Urban Economics Chair, Haas Real Estate Group |
Ph.D. from The University of Michigan in urban and regional planning
Research: housing price indices and models to monitor residential real estate price movements over the business cycle; Mortgage prepayment and pricing models, mortgage contract design, and the market microstructure of mortgage backed security trading; Option pricing models for pricing commercial and retail real estate leases for use in the commercial mortgage backed securities markets; Executive stock option valuation
Publication Highlights: "Innovations in Mortgage Modeling: An Introduction," Winter 2005 Real Estate Economics
"An Empirical Test of a Two-Factor Mortgage Valuation Model: How Much Do House Prices Matter?" with Christopher Downing and Richard Stanton, Winter 2005 Real Estate Economics
“Is the Market for Mortgage Backed Securities a Market for Lemons?” with Chris Downing and Dwight Jaffee, forthcoming Review of Financial Studies
