# 11th Housing-Urban-Labor-Macro (HULM) Conference

**11th Housing-Urban-Labor-Macro (HULM) Conference**

NYU Stern Center for Real Estate Finance Research
and
University of Wisconsin-Madison

February 28 - March 1, 2014
NYU Stern School of Business
New York City

Location
NYU Stern School of Business
Kaufman Management Center
44 West 4th Street (corner of Greene Street)
New York, NY 10012

Conference Agenda

Friday, February 28th
8:00 - 9:00 Registration and Continental Breakfast

8:55 - 9:00 Opening Remarks

9:00 - 10:00 Johannes Stroebel, NYU Stern
"Very Long-Run Discount Rates" (with Stefano Giglio and Matteo Maggiori)
Discussion by Tomasz Piskorski, Columbia University

10:00 - 11:00 Kaiji Chen, Emory University
["The Great Housing Boom of China: Causes, Consequences, and Future Paths" (with Yi Wen)](http://erwan.marginalq.com/HULM14s/kc.pdf)
Discussion by Satyajit Chatterjee, Federal Reserve Bank of Philadelphia

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

12:00 - 1:00 Lunch

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

2:00 - 3:00 Wenli Li, Federal Reserve Bank of Philadelphia
["Recourse and Mortgage Default: the Case of Nevada" (with Florian Oswald)](http://erwan.marginalq.com/HULM14s/wl.pdf)
Discussion by Kristle Romero Cortés, Federal Reserve Bank of Cleveland

3:00 - 3:30 Break

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

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

7:00 Dinner (location TBA)

Saturday, March 1st
8:00 - 8:30 Continental Breakfast

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

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

10:30 - 11:00 Break

11:00 - 12:00 Eric Hembre, Wisconsin University
["HAMP and the Dynamic Default Decision"](http://erwan.marginalq.com/HULM14s/eh.pdf)
Discussion by Andrew Paciorek, Board of Governors of the Federal Reserve System

12:00 Depart

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

Sponsorship is gratefully acknowledged from
[Center for Real Estate Finance Research](https://www.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/center-real-estate-finance-research)
Salomon Center for the Study of Financial Institutions
[Department of Real Estate and Urban Land Economics, Wisconsin School of Business](http://bus.wisc.edu/centers/james-a-graaskamp-center-for-real-estate)
[James A. Graaskamp Center for Real Estate](http://bus.wisc.edu/centers/james-a-graaskamp-center-for-real-estate)