Publications
Selection, Leverage, and Default in the Mortgage MarketArpit Gupta, and Christopher Hansman, September 2018
Macroeconomic Implications of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium
J. Favilukis, S. Ludvigson, and S. Van Nieuwerburgh, Journal of Political Economy, forthcoming 2016
GSE Reform: Will it Happen and What Form Will it Take?
Phasing out the GSEs
V. Elenev, T. Landvoigt, and S. Van Nieuwerburgh, Journal of Monetary Economics, forthcoming July 2016
Asymmetric Information about Collateral Values
J. Stroebel, Journal of Finance, 71(2), June 2016
No-Bubble Condition: Model-Free Tests in Housing Markets
S. Giglio, M. Maggiori, and J. Stroebel, Econometrica, 84(3), May 2016
Government Intervention in the Housing Market - Who Wins, Who Loses?
M. Floetotto, M. Kirker, and J. Stroebel, Journal of Monetary Economics, April 2016
Review of Norway's Real Estate and Infrastructure Investments
P. Stijn Van Nieuwerburgh, December 2015
Testing for Information Asymmetries in Real Estate Markets
P. Kurlat and J. Stroebel, Review of Financial Studies, 28(4), August 2015
Very Long-Run Discount Rates
S. Giglio, M. Maggiori, and J. Stroebel, Quarterly Journal of Economics, 130(1), February 2015
Regulating Consumer Financial Products: Evidence from Credit Cards
S. Agarwal, S. Chomsisengphet, N. Mahoney, and J. Stroebel, Quarterly Journal of Economics, 130(1), February 2015
Regulating Consumer Financial Products: Evidence from Credit Cards
S. Agarwal, S. Chomsinsengphet, N. Maloney and J. Stroebel, Quarterly Journal of Economics, August 2014
A Simple Framework for Estimating Consumer Benefits from Regulating Hidden Fees
S. Agarwal, S. Chomsisengphet, N. Mahoney, and J. Stroebel, Journal of Legal Studies , 43(S2), June 2014
Asymmetric Information About Collateral Values
J. Stroebel, Journal of Finance, forthcoming 2014
TBA Trading and Liquidity in the Agency MBS Market
James Vickery and Joshua Wright, FRBNY Economic Policy Review, May 2013
Guaranteed to Fail: Fannie Mae and Freddie Mac and What to Do about Them
V. Acharya, M. Richardson, S. Van Nieuwerburgh and L. White, Economist Voice, forthcoming 2013
Estimated Impact of the Federal Reserve's Mortgage Backed Securities Purchase Program
J. Stroebel and J. Taylor, Journal of Central Banking, June 2012
Capital Shortfall: A New Approach to Ranking and Regulating Systemic Risks
Viral Acharya, Robert Engle and Matthew Richardson, American Economic Review Papers and Proceedings, May 2012 (forthcoming)
Securitization Without Risk Transfer
Viral Acharya, Philipp Schnabl and Gustavo Suarez, Journal of Financial Economics, January 2012
Estimated Impact of the Fed's Mortgage-Backed Securities Purchase Program
J. Stroebel and J. Taylor, International Journal of Central Banking , 8(2), June 2012
International Capital Flows and House Prices: Theory and Evidence
Jack Favilukis, David Kohn, Sydney Ludvigson, and Stijn van Nieuwerburgh, National Bureau of Economic Research Housing and the Financial Crisis, NBER, Cambridge, MA., Chapter 8, December, 2011
The Area and Population of Cities: New Insights from a Different Perspective on Cities
Xavier Gabaix, Hernan Rozenfeld, Diego Rybski, and Hernan Makse, American Economic Review, August 2011
Reforming the U.S. Housing Finance System: A Proposal
Viral Acharya, Matthew Richardson, Stijn Van Nieuwerburgh, and Lawrence White, Financial Development Report 2011, World Economic Forum, Chapter 1.4, 2011
Manufacturing Tail Risk: A Perspective on the Financial Crisis of 2007-09
Viral Acharya, Thomas Cooley, Matthew Richardson and Ingo Walter, Foundations and Trends® in Finance, Vol. 4, No. 4, pp. 247-325, 2010
Towards a New Architecture for U.S. Mortgage Markets: The Future of the Government Sponsored Enterprises
Viral Acharya, Stanley Kon, Matthew Richardson, Sabri Oncu, Lawrence White, and Stijn Van Nieuwerburgh, Regulating Wall Street, edited by V. Acharya, T. Cooley, M. Richardson, and I. Walter, John Wiley and Sons, 2010
Why Has House Price Dispersion Gone Up?
Stijn Van Nieuwerburgh and Pierre-Olivier Weill, Review of Economic Studies, Vol. 77 (4), pp. 1567-1606, October 2010
Cities from Scratch
Brandon Fuller and Paul Romer, City Journal, Vol. 20, No. 4, Autumn 2010
Which Parts of Globalization Matter for Catch-Up Growth
Paul Romer, American Economic Review, Vol. 100, No. 2, pp. 94-98, May 2010
Consumer Financial Protection
Thomas Cooley, Xavier Gabaix, Samuel Lee, Thomas Mertens, Vicki Morowitz, Shelle Sanatana, Anjolein Schmeits, and Robert Whitelaw,
in Regulating Wall Street, John Wiley and Sons, 2010, edited by V. Acharya, T. Cooley, M. Richardson, and I. Walter.
How Much Does Household Collateral Constrain Regional Risk Sharing?
Hanno Lustig and Stijn Van Nieuwerburgh, Review of Economic Dynamics, Vol. 13(2), pp. 265-294, April 2010
Technologies, Rules, and Progress: The Case for Charter Cities
Paul Romer, Center for Global Development, March 2010
What to Do About the Government Sponsored Enterprises?
Dwight Jaffee, Matthew Richardson, Lawrence White, Robert Wright, and Stijn Van Nieuwerburgh, Restoring Financial Stability: How to Repair a Failed System, edited by V. Acharya and and M. Richardson, John Wiley and Sons, Chapter 4, 2009
Mortgage Origination and Securitization in the Financial Crisis
Dwight Jaffee, Anthony Lynch, Matthew Richardson, and Stijn Van Nieuwerburgh, Restoring Financial Stability: How to Repair a Failed System, edited by V. Acharya and and M. Richardson, John Wiley and Sons, Chapter 1, 2009
Home Equity Insurance: A Pilot Project
Andrew Caplin, William N. Goetzmann, Eric Hangen, Barry J. Nalebuff, Elisabeth Prentice, John Rodkin, Matthew I. Spiegel and Tom Skinner, Housing Markets and the Economy, edited by E. Glaeser and J. Quigley, Lincoln Press, 2009
Mortgage Timing
Ralph Koijen, Otto Van Hemert, and Stijn Van Nieuwerburgh, Journal of Financial Economics, Vol. 93 (2), pp. 292-324, August 2009
Rectifying the Tax Treatment of Shared Appreciation Mortgages
Andrew Caplin, Noel Cunningham and Mitchell Engler, Tax Law Review, Vol. 62, pp. 505-538, September 2008
Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market
Xavier Gabaix, Arvind Krishnamurthy and Olivier Vigneron, Journal of Finance, Vol. 62(2), pp. 557-595, April 2007
Mortgage-Backed Securities: Another Way to Finance Housing
Lawrence White, Financial System in US: Emerging Issues, edited by K.N. Rao, Icfai University Press, 2007
Shared Equity Mortgages, Housing Affordability, and Homeownership
Andrew Caplin, James Carr, Frederick Pollock and Zhong Yi Tong, Fannie Mae Foundation Special Report, Vol. 18, pp. 209-242, 2007
The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like?
Lawrence White, Real Estate Law Journal, Summer 2006
On Truly Privatizing Fannie Mae and Freddie Mac: Why It’s Important, and How to Do It
Lawrence White, Housing Finance International, December 2005
Housing Collateral, Consumption Insurance and Risk Premia: an Empirical Perspective
Hanno Lustig and Stijn Van Nieuwerburgh, Journal of Finance, Vol. 60 (3), pp.1167-1219, June 2005
Fussing and Fuming at Fannie and Freddie: How Much Smoke, How Much Fire?
W. Scott Frame and Lawrence White, Journal of Economic Perspectives, Spring 2005
Regulating Housing GSEs: Thoughts on Institutional Structure and Authorities
W. Scott Frame and Lawrence White, Economic Review, Federal Reserve Bank of Atlanta, Q2 2004
The Evolution of City Size Distributions
Xavier Gabaix and Yannis Ioannides, Handbook of Regional and Urban Economics, Vol. 4, Chapter 53, edited by Vernon Henderson and Jacques Thisse, North-Holland, pp.2341-2378, 2004
Focusing on Fannie and Freddie: The Dilemmas of Reforming Housing Finance
Lawrence White, Journal of Financial Services Research, pp. 43-58, February 2003
Reforming Freddie and Fannie: Privatization is the Way
Lawrence White, FMA Online, 2002
The Reverse Mortgage Market: Problems and Prospects
Andrew Caplin, Innovations in Retirement Financing, University of Pennsylvania Press, edited by Olivia S. Mitchell, Zvi Bodie, Brett Hammond, and Steve Zeldes, pp. 234-253,2002
What's It All About?
Lawrence White, P. Wallison, ed., Public Purposes and Private Interests: Fannie Mae and Freddie Mac, Vol. I: Government Subsidy and Conflicting Missions, AEI, 2000
Zipf's Law for Cities: An Explanation
Xavier Gabaix, Quarterly Journal of Economics, 114 (3), pp.739-67. August 1999
Collateral Damage: How Refinancing Constraints Exacerbate Regional Recessions
Andrew Caplin, Charles Freeman and Joseph Tracy, Journal of Money, Credit and Banking, pp. 496-516, 1997
Housing Partnerships: A New Approach to a Market at a Crossroads
Andrew Caplin, Sewin Chan, Charles Freeman and Joseph Tracy, Cambridge and London: MIT Press, pp. xiv, 265, 1997
Pricing Mortgage-Backed Securities in a Multifactor Interest Rate Environment: A Multivariate Density Estimation Approach
Jacob Boudoukh, Matthew Richardson, Richard Stanton, and Robert Whitelaw, Review of Financial Studies, Vol. 10, No. 2, pp. 405-446, 1997
Comments on 'The Privatization of Fannie Mae and Freddie Mac
Lawrence White, U.S. Department of Housing and Urban Development, Studies on Privatizing Fannie Mae and Freddie Mac, 1996
A New Strategy for Dynamically Hedging Mortgage-Backed Securities
Jacob Boudoukh, Matthew Richardson, Richard Stanton, and Robert Whitelaw, Journal of Derivatives, Vol. 2, No. 4, pp. 60-77, 1995
The Community Reinvestment Act: Good Intentions Headed in the Wrong Direction
Lawrence White, Fordham Urban Law Journal, 1993
How Good Are Two-Point Estimates of Urban Density Gradients and Central Densities?
Lawrence White, Journal of Urban Economics, July 1977
A Further Note on Density Functions and Average Distance from the Center
Lawrence White, Journal of Urban Economics, April 1977
The Tax Subsidy to Owner-Occupied Housing: Who Really Benefits?
Lawrence White and Michelle White, Journal of Public Economics, February 1977