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Stijn Van Nieuwerburgh

Stijn Van Nieuwerburgh

Joined Stern 2003

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, 9-54
New York, NY 10012

E-mail svnieuwe@stern.nyu.edu
Personal website

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Biography

Stijn Van Nieuwerburgh is the David S. Loeb Professor of Finance and the Director of the Center for Real Estate Finance Research at New York University Leonard N. Stern School of Business, which he joined in 2003. Professor Van Nieuwerburgh’s research lies in the intersection of housing, asset pricing, and macroeconomics. One strand of his work studies how financial market liberalization in the mortgage market relaxed households' down payment constraints, and how that affected the macro-economy, and the prices of stocks and bonds. In this area, he has also worked on regional housing prices and on household's mortgage choice. He currently studies real estate price formation, and the impact of foreign buyers on he market.

Professor Van Nieuwerburgh has published articles in the Journal of Political Economy, American Economic Review, Econometrica, Review of Economic Studies, Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and the Journal of Monetary Economics, among other journals. He is Editor at the Review of Financial Studies. He is a Faculty Research Associate at the National Bureau of Economic Research and at the Center for European Policy Research.

He has served as an advisor to the Norwegian Minsiter of Finance, and has been a visiting scholar at to the Central Bank of Belgium, the New York and Minneapolis Federal Reserve Banks, the Swedish House of Finance, the International Center for Housing Risk, and has contributed to the World Economic Forum project on real estate price dynamics.

Professor Van Nieuwerburgh earned his Ph.D. in Economics and Masters in Financial Mathematics at Stanford University and his Bachelor's degree in economics at the University of Ghent in Belgium.

Research Interests

  • Intersection of macroeconomics, asset pricing and housing

Courses Taught

  • Asset Pricing Theory
  • Foundations of Finance
  • Real Estate Investment Strategies
  • Securitization

Academic Background

Ph.D., Economics, 2003
Stanford University

M.Sc., Financial Mathematics, 2001
Stanford University

M.A., Economics, 2001
Stanford University

B.A., Economics, 1998
University of Gent, Belgium

Awards & Appointments

 
One of 40 best business school professors under age 40 2011
NSF Grants 2010
Review of Financial Studies Distinguished Referee Award 2010
Professor of the Year award by MBA students Nominated 2010
NYU Stern Teaching Excellence Award Winner 2010
Utah Winter Finance Conference Best paper prize 2009
Q-group Research Award 2008
Netspar Grant 2008
UCLA Zinman Research Center for Real Estate Grant 2007
Glucksman Institute Research Prize Best Paper 2006

Selected Publications

B. Kelly, H. Lustig, and S. van Nieuwerburgh (2011)
Too-Systemic-To-Fail: What Option Markets Imply about Sector-wide Government Guarantees

J. Ameriks, A. Caplin, S. Laufer, and S. Van Nieuwerburgh (2011)
The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Bequest and Precautionary Motives
Journal of Finance, vol. 66 (2), April 2011

J. Favilukis, S. Ludvigson, and S. Van Nieuwerburgh (2010)
Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk Sharing in General Equilibrium

S. Van Nieuwerburgh and P.-O. Weill (2010)
Why Has House Price Dispersion Gone Up?
Review of Economic Studies, vol. 77(4), October 2010, pp.1567-1606

R. Koijen, H. Lustig, S. Van Nieuwerburgh, and A. Verdelhan (2010)
Long-Run Risk, the Wealth-Consumption Ratio, and the Temporal Pricing of Risk
American Economic Review Papers & Proceedings, vol. 100(2), May 2010, pp. 552-556

H. Lustig and S. Van Nieuwerburgh (2010)
How Much Does Household Collateral Constrain Regional Risk Sharing?
Review of Economic Dynamics, vol. 13(2), April 2010, pp. 265-294

S. Van Nieuwerburgh and L. Veldkamp (2010)
Information Acquisition and Under-Diversification
Review of Economic Studies, vol. 77(2), April 2010, pp. 779-805

R. Koijen, O. van Hemert, and S. Van Nieuwerburgh (2009)
Mortgage Timing
Journal of Financial Economics, August 2009, vol. 93 (2), pp. 292-324

S. Van Nieuwerburgh and L. Veldkamp (2009)
Information Immobility and the Home Bias Puzzle
Journal of Finance, vol. 64(3), June 2009, pp. 1187-1215

H. Lustig, C. Syverson, and S. Van Nieuwerburgh
Technological Change and the Growing Inequality in Managerial Compensation
Forthcoming at the Journal of Financial Economics

Related News & Research

Professor Stijn Van Nieuwerburgh's joint research on income and housing prices is referenced

Stern's Center for Real Estate Finance Research Hosts Fifth Annual Fall Symposium

Professor Stijn Van Nieuwerburgh Is Awarded the 2015 Bernácer Prize

Professor Stijn Van Nieuwerburgh discusses real estate investment trends in Detroit

How Investors Interpreted Government Bailout Guarantees

Professors Scott Galloway and Stijn Van Nieuwerburgh weigh in on Donald Trump's real estate dealings

Professor Stijn Van Nieuwerburgh discusses investment risks and the Sovereign Wealth Fund

Professor Stijn Van Nieuwerburgh explains why he believes Korea needs to implement economic reforms

Professor Stijn Van Nieuwerburgh discusses the future of the real estate market

Professor Stijn Van Nieuwerburgh cites the growing real estate job market for MBAs; MBA students David Gleitman and Alex Lebowitz are featured

Paying it Forward: Diversification for Norway’s Oil Fund

Professor Stijn Van Nieuwerburgh is interviewed about Norway's sovereign-wealth fund

A group of experts, led by Professor Stijn Van Nieuwerburgh, shares recommendations for Norway's sovereign-wealth fund

Professor Stijn Van Nieuwerburgh discusses the state of the commercial mortgage backed securities (CMBS) market

Professor Stijn Van Nieuwerburgh looks at the role of government in the mortgage market

Professor Stijn Van Nieuwerburgh shares advice for first-time home buyers

"Guaranteed to Fail" is named to American Banker's summer reading list for commercial bankers

Prof. Stijn Van Nieuwerburgh on the cost of renting vs. buying

Profs. Viral Acharya and Stijn Van Nieuwerburgh's research is cited

Prof. Stijn Van Nieuwerburgh on home loans with wealth as collateral

Areas of Expertise

Economics

  • International Economic Policy
  • Macroeconomics

Finance

  • Asset Management
  • Department of Housing and Urban Policy
  • Fannie Mae/Freddie Mac
  • Subprime Lending
  • Valuation

Industry

  • Financial Industry
  • Housing/Real Estate

Region/Country

  • Europe