## HULM Academic Conference 2014

###
Stern Center for Real Estate Finance Research and University of Wisconsin-Madison
invite you to the 11th Housing-Urban-Labor-Macro (HULM) Conference

February 28th and March 1st at the Stern Center for Real Estate Finance Research
Kaufman Management Center, 44 West Fourth Street, New York, NY 10012

Sessions in room M3-120, Breakfast and Lunch in room L101

**Conference Agenda:**
**Friday, February 28th**

8:00am – 9:00am, Registration and Continental Breakfast

8:55am – 9:00am, Opening Remarks

9:00am – 10:00am, **Johannes Stroebel, NYU**
*Very Long-Run Discount Rates (with Stefano Giglio and Matteo Maggiori)*
Discussion by Tomasz Piskorski

10:00am – 11:00am, **Kaiji Chen, Emory**
[The Great Housing Boom of China: Causes, Consequences, and Future Paths](http://erwan.marginalq.com/HULM14s/kc.pdf) *(with Yi Wen)*
Discussion by Satyajit Chatterjee

11:00am – 12:00pm, **Daniele Cohen-Pirani, Pittsburgh**
[Human Capital Accumulation in a Federation](http://erwan.marginalq.com/HULM14s/dc.pdf)
Discussion by David Albouy

12:00pm – 1:00pm, Lunch

1:00pm – 2:00pm, **Mikhail Dmitriev, Boston College**
[The Financial Accelerator and the Optimal Lending Contract](http://erwan.marginalq.com/HULM14s/md.pdf) *(with Jonathan Hoddenbagh)*
Discussion by Thomas Philippon

2:00pm – 3:00pm, **Wenli Li, Philadelphia Fed**
[Recourse and Mortgage Default: the Case of Nevada](http://erwan.marginalq.com/HULM14s/wl.pdf) *(with Florian Oswald)*
Discussion by Kristle Romero Cortés

3:00pm – 3:30pm, Break

3:30pm – 4:30pm, **Nicolas Petrosky-Nadeau, Carnegie Mellon**
[Unemployment, Financial Frictions, and the Housing Market](http://erwan.marginalq.com/HULM14s/np.pdf) *(with Guillaume Rocheteau)*
Discussion by Allen Head

4:30pm – 5:30pm, **Anthony DeFusco, Penn**
[Interest Rate Elasticity of Mortgage Demand: Evidence From Bunching at the Conforming Loan Limit](http://erwan.marginalq.com/HULM14s/ad.pdf) *(with Andrew Paciorek)*
Discussion by Stephen Hammond Shore

7:00pm, Dinner, location TBD
**Sponsored by the** [ James A. Graaskamp Center for Real Estate](http://bus.wisc.edu/centers/james-a-graaskamp-center-for-real-estate)

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**Saturday, March 1st**

8:00am – 8:30am, Continental Breakfast

8:30am – 9:30am, **Chamna Yoon, CUNY**
[The Decline of the Rust Belt: A Dynamic Spatial Analysis](http://erwan.marginalq.com/HULM14s/cy.pdf)
Discussion by Gilles Duranton

9:30am – 10:30am, **Bulent Guler, Indiana**
[Joint Dynamics of House Prices and Foreclosures](http://erwan.marginalq.com/HULM14s/bg.pdf) *(with Yavuz Arslan and Temel Taskin)*
Discussion by Jonathan Halket

10:30am – 11:00am, Break

11:00am – 12:00pm, **Eric Hembre, Wisconsin**
[HAMP and the Dynamic Default Decision](http://erwan.marginalq.com/HULM14s/eh.pdf)
Discussion by Andrew Paciorek

12:00pm, Depart

**Program committee:**

Morris Davis (UMW), Aurel Hizmo (NYU), Erwan Quinten (UMW), and Stijn Van Nieuwerburgh (NYU)

**Sponsorship is gratefully acknowledged from**

[Stern Center for Real Estate Finance Research ](http://www.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/center-real-estate-finance-research/index.htm)
[Stern Salomon Center](http://www.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/salomon-center-for-the-study-of-financial-institutions/index.htm)
[Department of Real Estate and Urban Land Economics, Wisconsin School of Business James A. Graaskamp Center for Real Estate](http://bus.wisc.edu/centers/james-a-graaskamp-center-for-real-estate)