Thursday, September 4, 2014 – Friday, September 5, 2014
Agenda download (pdf, 890 kb)
Thursday, September 4
8:00 a.m. | Continental Breakfast |
---|---|
Yellen Conference Center |
|
8:50 a.m. | Welcoming Remarks |
John C. Williams, President of the Federal Reserve Bank of San Francisco |
|
9:00 a.m. | Session One: Land Value and Economic Cycles |
Chair: Steve Oliner (UCLA Ziman Center for Real Estate and American Enterprise Institute) Land Prices and Unemployment Download paper (pdf, 691 kb) Collateral Constraints and Macroeconomic Asymmetries Download paper (pdf, 431 kb) |
|
11:00 a.m. | Break |
|
|
11:20 a.m. | Session Two: Mortgage Debt and Default |
Chair: John Krainer (Federal Reserve Bank of San Francisco) Unemployment, Negative Equity, and Strategic Default Download paper (pdf, 437 kb) |
|
12:20 p.m. | Lunch |
Market Street Dining Room, Fourth Floor |
|
2:00 p.m. | Session Two: Mortgage Debt and Default (continued) |
Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty Download paper (pdf, 577 kb) |
|
3:00 p.m. | Break |
3:20 p.m | Session Three: Housing and Monetary Policy |
Chair: Wayne Passmore (Board of Governors of the Federal Reserve System) Household Balance Sheets and Monetary Policy Download paper (pdf, (1.2 mb) |
|
4:20 p.m | Break |
4:40 p.m | The Impact of Unconventional Monetary Policy on Housing and Real Estate Markets |
Stuart Gabriel (UCLA Anderson School of Management and UCLA Ziman Center for Real Estate) Discussant: Paul Willen (Federal Reserve Bank of Boston) Download paper (pdf, 1.5 mb) |
|
5:45 p.m | Reception |
West Market Street Lounge, Fourth Floor |
|
6:30 p.m | Dinner |
Market Street Dining Room, Fourth Floor Introduction: John C. Williams, President, Federal Reserve Bank of San Francisco Keynote Speaker: Lars E.O. Svensson, The Institute for Financial Research, Swedish House of Finance, Stockholm School of Economics Download author presentation (pptx, 5.7 mb) |
Friday, September 5
8:30 a.m. | Continental Breakfast |
---|---|
Yellen Conference Center |
|
9:00 a.m. | Session Four: Collateral, Credit and Economic Cycles |
Chair: Diana Hancock (Board of Governors of the Federal Reserve System) Betting the House Download paper (pdf, 1.0 mb) Credit-Induced Boom and Bust Download paper (pdf, 573 kb) |
|
11:00 a.m. | Break |
|
|
11:20 a.m. | Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market |
Charles Nathanson (Northwestern University) Download paper (pdf, 1.0 mb) |
|
12:20 p.m. | Lunch |
Market Street Dining Room, Fourth Floor |
|
Conference Adjourn | |
The Organizing Committee
Fred Furlong, Federal Reserve Bank of San Francisco
Stuart Gabriel, UCLA Anderson School of Management and UCLA Ziman Center for Real Estate
Diana Hancock, Board of Governors of the Federal Reserve System
John Krainer, Federal Reserve Bank of San Francisco
Simon Kwan, Federal Reserve Bank of San Francisco
Steve Oliner, UCLA Ziman Center for Real Estate and American Enterprise Institute
Wayne Passmore, Board of Governors of the Federal Reserve System