Working Papers

The Ziman Center was established to create and administer UCLA's activities surrounding the topic of real estate. To advance this mandate, the Center has built a community of leading scholars who undertake real estate-related research. The Working Papers series is made up of research undertaken by the Center's Affiliated Faculty and Fellows, who join the Center from departments throughout the UCLA campus, including management, economics, law, public policy, urban planning, engineering, architecture and geography. Working papers are the first step to published research, and the purpose of the series is to widely distribute the results of high-quality research. At regular intervals the Ziman Center prepares research briefs that provide insights into research to the wider real estate community.

Working Papers

 
2016
WP # Title Author(s)
18 Nowhere to Run, Nowhere to Hide: Asset Diversification in a Flat World John Cotter, Stuart A. Gabriel and Richard Roll
17 Public School Quality Valuation Over the Business Cycle Stuart Gabriel, Owen Hearey, Matthew E. Kahn and Ryan K. Vaughn
16 Collateral Constraints, Wealth Effects, and Volatility: Evidence From Real Estate Markets Barney Hartman-Glaser and William Mann
15 The Effect of Rising Income Inequality Across Neighborhoods on Local School Funding and Enrollment Owen Hearey
14 A Crisis of Missed Opportunities?
Foreclosure Costs and Mortgage Modification During the Great Recession 		Stuart A. Gabriel, Matteo Iacoviello and Chandler Lutz
13 Coal Smoke and the Costs of the Industrial Revolution W. Walker Hanlon
12 Was Entry into the WTO Worth It: Environmental Consequences of Trade Liberalization Yuan Tian
11 Green Building Labels Spur Major CO2 Reductions, But Leave Small Business Behind Omar Isaac Asensio and Magali A. Delmas
10 Mortgage Default Risk: New Evidence From Internet Search Queries (revised) Marcelle Chauvet, Stuart A. Gabriel and Chandler Lutz
9 Globalization and Its (Dis-)Content: Trade Shocks and Voting Behavior Christian Dippel, Robert Gold, Stephan Heblich
8 Race, Ethnicity, and Income Segregation in Los Angeles Paul Ong, Chhandara Pech, Jenny Chhea, C. Aujean Lee
7 Exporting and Plant-Level Efficiency Gains: It's in the Measure Alvaro Garcia-Marin and Nico Voigtländer
6 Residual Value Capture in Subsidized Housing Brandon M. Weiss
5 Information Exploitation? A Pre-Crisis RMBS Issuer's Private Information Darren Aiello
4 Slippery Slope or Wake-up Call? Negative Credit: Rating Shocks for Consumers? Mark J. Garmaise and Gabriel Natividad
3 Macroeconomic-driven Prepayment Risk and the Valuation of Mortgage-Backed Securities Mikhail Chernov, Brett R. Dunn, Francis A. Longstaff
2 Default Option Exercise over the Financial Crisis and Beyond (revised) Xudong An, Yongheng Deng and Stuart A. Gabriel
1 Residential Land Values in the Washington, DC Metro Area: New Insights from Big Data Morris A. Davis, Stephen D. Oliner, Edward J. Pinto and Sankar Bokka
2015
WP # Title Author(s)
20 Rental Yields and HPA: The Returns to Single Family Rentals Andrew Demers and Andrea Eisfeldt
19 State Taxes and Spatial Misallocation Pablo D. Fajgelbaum, Eduardo Morales and Juan Carlos Suarez Serrato
18 Pollution and Mortality in the 19th Century W. Walker Hanlon
17 Bundled Parking and Residential Rents in the Metropolitan United States C.J. Gabbe, Gregory Pierce and Randall Crane
16 Voting With Your Senses? The Impact of Local Environmental Conditions on Preferences for Environmental Regulation Magali A. Delmas and Stephen L. Locke
15 Assessing House Price Effects on Unemployment Dynamics Francois Geerolf and Thomas Grjebine
14 Do Housing Choice Voucher Recipients Import Crime? Steven Raphael and Michael A. Stoll
13 Impacts of the Widening Divide - Why is LA's Homeownership Rate So Low? Paul M. Ong, Rosalie Ray and Silvia Jimenez
12 Self-Protection Investment Exacerbates Air Pollution Exposure Inequality in Urban China Siqi Zheng, Cong Sun and Matthew E. Kahn
11 The Birth of Edge Cities in China: Measuring the Spillover Effects of Industrial Parks Siqi Zheng, Weizeng Sun, Jianfeng Wu and Matthew E. Kahn
10 State Owned Enterprises in China's Housing Boom: A Case Study of Chengdu, Sichuan Paavo Monkkonen, Guoying Deng and Wanyang Hu
9 Econometric Analysis of Spatial General Equilibrium Michael Beenstock, Daniel Felsenstein and Dai Xieer
8 Endogenous City Disamenities: Lessons from Industrial Pollution in 19th Century Britain W. Walker Hanlon
7 How Economic Development Shapes Household Structure and the Age of Leaving Home and Household Formation: Evidence from 67 countries’ ‘Big Microdata’ Paavo Monkkonen
6 Urban Spatial Structure and Motorization in China Bindong Sun, Tinglin Zhang, Zhou He and Rui Wang
5 The Political Economy of State and Local Investment in Pre-K Programs Matthew E. Kahn and Kyle Barron
4 Do Strict Land Use Regulations Make Metropolitan Areas more Segregated by Income? Michael C. Lens and Paavo Monkkonen
3 Death and the Media: Asymmetries in Infectious Disease Reporting During the Health Transition Dora L. Costa and Matthew E. Kahn
2 How Fast are Semiconductor Prices Falling? David M. Byrne, Stephen D. Oliner and Daniel E. Sichel
1 Title Congressional Influence As a Determinant of Subprime Lending (revised) Stuart A. Gabriel, Matthew E. Kahn and Ryan K. Vaughn
2014
WP # Title Author(s)
23 Climate Change Adaptation: Lessons from Urban Economics Matthew E. Kahn
22 The Role of Housing Finance in Mexico's Vacancy Crisis Paavo Monkkonen
21 Can Housing Risk Be Diversified? A Cautionary Tale from the Recent Boom and Bust (revised) John Cotter, Stuart A. Gabriel and Richard Roll
20 The Impact of Unconventional Monetary Policy on Real Estate Markets Stuart A. Gabriel and Chandler Lutz
19 Default Option Exercise over the Financial Crisis and Beyond Xudong An, Yongheng Deng and Stuart A. Gabriel
18 Housing Disparities in Southern California  Jason Harley
17 Between Resistance and Embrace: American Realtors, the Justice Department, and the Uncertain Triumph of the Fair Housing Act, 1968-1978 Jonathan Zasloff
16 The Misunderstood Consequences of Shelley v. Kraemer Yana Kucheva and Richard Sander
15 The Cost of Convenience: Estimating the Impact of Communication Antennas on Residential Property Values Stephen L. Locke and Glenn C. Blomquist
14 The Great Recession and Residential Mobility: A Shift to Local Moves Michael A. Stoll
13 Are Compact Cities Greener? Evidence from China, 2000-2010 Rui Wang and Quan Yuan
12 A Silver Lining to White Flight?
White Suburbanization and African-American Homeownership, 1940-1980		 Leah P. Boustan and Robert A. Margo
11 Economic Integration and Structural Change  Jean Imbs, Claudio Montenegro and Romain Wacziarg
10 Agglomeration: A Dynamic Approach W. Walker Hanlon and Antonio Miscio
9 Anchoring and Housing Choice: Results of a Natural Policy Experiment Yuval Arbel, Danny Ben-Shahar, and Stuart Gabriel
8 Impacts of the Widening Divide: Los Angeles at the Forefront of the Rent Burden Crisis Rosalie Ray, Paul Ong, Silvia Jimenez
7 External Integration, Structural Transformation and Economic Development: Evidence from Argentina 1870-1914 Pablo Fajgelbaum and Stephen J. Redding
6 Government Fragmentation and Metropolitan Economic Performance: Evidence from China  Bindong Sun, Tinglin Zhang, Yinyin Cai and Rui Wang
5 The Impact of Consumer Credit Access on Unemployment Kyle F. Herkenhoff
4 Public Transit Bus Procurement: The Role of Energy Prices, Regulation and Federal Subsidies Shanjun Li, Matthew E. Kahn and Jerry Nickelsburg
3 The Impact of Emerging Climate Risks on Urban Real Estate Price Dynamics Devin Bunten and Matthew E. Kahn
2 Big-Box Retailers and Urban Carbon Emissions: The Case of Wal-Mart Matthew E. Kahn and Nils Kok
1 Household Demand for Low Carbon Public Policies: Evidence from California Matthew J. Holian and Matthew E. Kahn
2013
WP # Title Author(s)
17 The Housing Market Effects of Local Home Purchase Restrictions: Evidence from Beijing Weizeng Sun, Siqi Zheng, David M. Geltner and Rui Wang
16 Is Crime Bad for Business?
Crime and Commercial Property Values in New York City (revised)		 Michael C. Lens and Rachel Meltzer
15 Immigration, Segregation and Poverty in the U.S. Michael A. Stoll
14 Does More Information Lead to More Financing?
Local Information Shocks and Bank Credit		 Mark J. Garmaise and Gabriel Natividad
13 The Boom, the Bust, and the Future of Homeownership (revised) Stuart A. Gabriel and Stuart S. Rosenthal
12 Unemployment, Negative Equity, and Strategic Default Kristopher Gerard, Kyle F. Herkenhoff, Lee E. Ohanian and Paul S. Willen
11 Industry Connections and the Geographic Location of Economic Activity W. Walker Hanlon
10 Moral Hazard and the Structure of Debt Contracts: the Efficiency of Non-Recourse Lending (revised) Robert R. Bliss and Stephen D. Cauley
9 Estimates of the Size and Source of Price Declines Due to Nearby Foreclosures Elliot Anenberg and Edward Kung
8 The Market for OTC Derivatives Andrew G. Atkeson, Andrea L. Eisfeldt and Pierre-Olivier Weill
7 Are the Disabled Less Loss Averse? New Evidence from the Housing Market Yuval Arbel, Danny Ben-Shahar, and Stuart Gabriel
6 Congressional Influence As a Determinant of Subprime Lending Stuart A. Gabriel, Matthew E. Kahn, and Ryan K. Vaughn
5 Is the Information Technology Revolution Over? David M. Byrne, Stephen D. Oliner and Daniel E. Sichel
4 Incentivizing China's Urban Mayors to Mitigate Pollution Externalities: The Role of the Central Government and Public Environmentalism Siqi Zheng, Matthew E. Kahn, Weizeng Sun and Danglun Luo
3 Commercial Building Electricity Consumption Dynamics: The Role of Structure Quality, Human Capital, and Contract Incentives Matthew E. Kahn, Nils Kok and John M. Quigley
2 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas? (revised) Matthew P. Drennan and Charles M. Brecher
1 The Rise of the Low Carbon Consumer City Matthew J. Holian and Matthew E. Kahn
2012
WP # Title Author(s)
18 Do Liberal Home Owners Consume Less Electricity? A Test of the Voluntary Restraint Hypothesis Dora L. Costa and Matthew E. Kahn
17 Time-to-Plan Lags for Commercial Construction Projects Jonathan N. Millar, Stephen D. Oliner and Daniel E. Sichel
16 Urbanization, Agglomeration Economies, and Access to Mortgage Credit Stuart A. Gabriel and Stuart S. Rosenthal
15 How Land Use Changes Contribute to Economic Growth in Urban China? A Structural Equation Analysis He Canfei and Huang Zhiji
14 Explaining Racial/Ethnic Gaps in Spatial Mismatch: The Primacy of Racial Segregation Michael A. Stoll and Kenya Covington
13 The Suburbanization of Housing Choice Voucher Recipients Kenya Covington, Lance Freeman and Michael A. Stoll
12 Internationally Correlated Jumps Kuntara Pukthuanthong and Richard Roll
11 Interest Rates and Real Estate Values: The Diverging Effects of Real Rates and Expected Inflation Kuntara Pukthuanthong and Richard Roll
10 Fear and Loathing in the Housing Market: Evidence from Search Query Data Marcelle Chauvet, Stuart A. Gabriel and Chandler Lutz
9 Financial Flexibility for Households Mark J. Garmaise
8 Can Metropolitan Housing Risk Be Diversified?
A Cautionary Tale from the Recent Boom and Bust		 John Cotter, Stuart A. Gabriel and Richard Roll
7 Swings in Commercial and Residential Land Prices in the United States Joseph B. Nichols, Stephen D. Oliner and Michael R. Mulhal
6 The Bright Side of Corporate Diversi…fication: Evidence from Internal Labor Markets Geoffrey Tate and Liu Yang
5 Female Leadership and Gender Equity: Evidence from Plant Closure Geoffrey Tate and Liu Yang
4 Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market Yongheng Deng, Stuart A. Gabriel, Kiyohiko G. Nishimura and Diehang (Della) Zheng
3 Forecasting Real Estate Prices Eric Ghysels, Alberto Plazzi, Walter Torous and Rossen Valkanov
2 What Actually Causes Mortgage Defaults, Redefaults, and Modifcations Kyle Herkenhoff
1 Decentralization and Urban Environment: A Case of Industrial Air Pollution in Chinese Cities He Canfei
2011
WP # Title Author(s)
16 India's Land Title Crisis: The Unanswered Questions Jonathan Zasloff
15 School Desegregation and Urban Change: Evidence from City Boundaries Leah Platt Boustan
14 Population Trends as a Counterweight to Central City Decline, 1950-2000 Leah Platt Boustan and Allison Shertzer
13 Anchoring and Housing Choice: Results of a Natural Policy Experiment Yuval Arbel, Danny Ben-Shahar and Stuart A. Gabriel
12 Integration and Contagion in Housing Markets John Cotter, Stuart A. Gabriel and Richard Roll
11 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas? Matthew P. Drennan and Charles Brecher
10 Labor Migration, Human Capital Agglomeration and Regional Development in China (revised) Yuming Fu and Stuart A. Gabriel
9 Homeownership Boom and Bust 2000 to 2009: Where Will the Homeownership Rate Go From Here? Stuart A. Gabriel and Stuart S. Rosenthal
8 Understanding the Solar Home Price Premium: Electricity Generation and "Green" Social Status Samuel Dastrup, Joshua Graff Zivin, Dora L. Costa and Matthew E. Kahn
7 Mitigating Undiscovered Risks Mark J. Garmaise
6 Does Government Investment in Local Public Goods Spur Gentrification? Evidence from Beijing Siqi Zheng and Matthew E. Kahn
5 The Effect of Homeownership on Geographic Mobility and Labor Market Outcomes Hernan Winkler
4 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas? Matthew P. Drennan and Charles M. Brecher
3 Understanding the Solar Home Price Premium: Electricity Generation and "Green" Social Status Samuel Dastrup, Joshua Graff Zivin, Dora L. Costa and Matthew E. Kahn
2 China's Rising Demand for "Green Cities": Evidence from Cross-City Real Estate Price Hedonics Siqi Zheng, Jing Cao and Matthew E. Kahn
1 Household Location and Race: A Twenty-Year Retrospective Stuart A. Gabriel and Gary D. Painter
2010
WP # Title Author(s)
19 The Misunderstood Consequences of Shelley v. Kraemer Yana Kucheva and Richard Sander
18 Moral Hazards: Special Purpose Vehicles, Bankruptcy Remoteness and Non-recourse Lending  Robert R. Bliss and Stephen D. Cauley
17 Adopting Local Climate Policies: What Have California Cities Done and Why?  Rui Wang
16 Does Public Transit Use Enhance the Economic Efficiency of Urban Areas? Matthew P. Drennan and Charles M. Brecher
15 The Secret History of the Fair Housing Act Jonathan Zasloff
14 Racial Segregation and Poverty  Michael A. Stoll
13 Income Inequality and Local Government in the United States, 1970-2000  Leah Boustan, Fernando Ferreira, Hernan Winkler, and Eric M. Zolt
12 Electric Usage Information and Public and Private Incentives: A Pilot Project  Victor Chen, Magali Delmas, Robert Gilbert, Bill Kaiser, Neil Lessem
11 Do the GSEs Expand the Supply of Mortgage Credit? New Evidence of Crowd Out in the Secondary Mortgage Market  Stuart A. Gabriel and Stuart S. Rosenthal
10 Local Scale Economies in Loan Sales and Access to Mortgage Credit: 1994-2008  Stuart A. Gabriel and Stuart S. Rosenthal
9 Urban Adaptation to Low Probability Shocks: Contrasting Terrorism and Natural Disaster Risk  Matthew E. Kahn
8 The Housing Market Effects of Discrete Land Use Regulations: Evidence from the California Coastal Boundary Zone Matthew E. Kahn, Ryan Vaughn and Jonathan Zasloff
7 Energy Conservation "Nudges" and Environmentalist Ideology: Evidence from a Randomized Residential Electricity Field Experiment Dora L. Costa and Matthew E. Kahn
6 Asymmetric Information, Adverse Selection, and the Pricing of CMBS Xudong An, Yongheng Deng and Stuart A. Gabriel
5 Why Has California's Residential Electricity Consumption Been so Flat Since the 1980s? A Microeconometric Approach Dora L. Costa
4 Urban Policy Effects on Carbon Mitigation Matthew E. Kahn
3 Migration and Economic Growth in China: The Role of Knowledge and Human Capital Spillovers Yuming Fu and Stuart A. Gabriel
2 Leaders, Followers and Laggards: Committing to Local Climate Actions in California Rui Wang
1 Evaluating Housing Supply Elasticity in Inter-city Spatial Equilibrium: Evidence from Chinese Urban Growth Yuming Fu, Siqi Zheng and Hongyu Liu
2009
WP # Title Author(s)
17 Population Growth across Chinese Cities: Urban Land Expansion versus Housing Density Response to Demand Shocks Yuming Fu, Siqi Zheng and Hongyu Liu
16 Housing Risk and Return: Evidence from a Housing Asset-Pricing Model Karl Case, John Cotter and Stuart Gabriel
15 Demand Shocks, Strategic Defaults and the Dynamics of Commercial Real Estate Markets Stephen Day Cauley and Andrey D. Pavlov
14 A Comparative Anatomy of REITs and Residential Real Estate Indexes: Returns, Risks and Distributional Characteristics John Cotter and Richard Roll
13 The Greenness of Cities: Carbon Dioxide Emissions and Urban Development Edward L. Glaeser and Matthew E. Kahn
12 Cities, Economic Development and the Role of Place Based Policies: Lessons for Appalachia Matthew E. Kahn
11 The Cost of Terror: Effects of the Second Palestinian Intifada on Jerusalem House Prices Yuval Arbel, Danny Ben-Shahar, Stuart Gabriel and Yossef Tobol
10 Is Conduit Lending to Blame? Asymmetric Information, Adverse Selection, and the Pricing of CMBS Xudong An, Yongheng Deng and Stuart A. Gabriel
9 After the Honeymoon: Relationship Dynamics Between Mortgage Brokers and Banks Mark J. Garmaise
8 Choose the Best Answer: Organizing Climate Change Negotiation in the Obama Administration Jonathan Zasloff
7 Valuing Toxic Assets: An Analysis of CDO Equity Francis A. Longstaff and Brett Myers
6 Rx for the R1: Sustaining the Neighborhood Dana Cuff and Per-Johan Dahl
5 Measuring Urban Agglomeration Economies over Time with Office Rents Matthew P. Drennan and Hugh F. Kelly
4 Towards a System of Open Cities in China: Home Prices, FDI Flows and Air Quality in 35 Major Cities Siqi Zheng, Matthew E. Kahn and Hongyu Liu
3 Racial/Ethnic Variation in Homeowners' Financial Burdens, 2000-2007 Theresa Firestine and Paul Ong
2 CDO Market Implosion and the Pricing of Subprime Mortgage-Backed Securities Yongheng Deng, Stuart A. Gabriel and Anthony B. Sanders
1 Can Inclusionary Zoning be an Effective and Efficient Housing Policy? A Review of the Literature and Evidence from Los Angeles and Orange Counties Vinit Mukhija
2008
WP # Title Author(s)
22 Spatial Variation In Foreclosures In Los Angeles Paul Ong and Deirdre Pfeiffer
21 Human Capital Accrual, Skill Complementarity, and Urban Migration: New Evidence from China Yuming Fu and Stuart A. Gabriel
20 Environmentalism as a Determinant of Housing Supply Regulation Matthew E. Kahn
19 Green Market Geography: The Spatial Clustering of Hybrid Vehicle and LEED Registered Buildings Matthew E. Kahn and Ryan K. Vaughn
18 The Wealth-Consumption Ratio Hanno Lustig, Stijn Van Nieuwerburgh and Adrien Verdelhan
17 Escape From the City? The Role of Race, Income, and Local Public Goods in Post-War Suburbanization Leah Platt Boustan
16 Cities, Land Use, and the Global Commons: Genesis and the Urban Poliitics of Climate Change Katherine Trisolini and Jonathan Zasloff
15 Falling Behind: California's Interior Metropolitan Areas Michael Manville and Matthew P. Drennan
14 The Inclusionary Housing Experience in Southern California: An Evaluation of the Programs in Los Angeles and Orange Counties Vinit Mukhija, Lara Regus, Sara Slovin and Ashok Das
13 The Judicial Carbon Tax: Reconstructing Public Nuisance and Climate Change Jonathan Zasloff
12 Moral Hazard and the Structure of Debt Contracts: the Efficiency of Non-Recourse Lending Robert R. Bliss and Stephen D. Cauley
11 Graduated Density Zoning Donald Shoup
10 The GSEs, CRA, and Homeownership in Targeted Underserved Neighborhoods Stuart A. Gabriel and Stuart S. Rosenthal
9 Value Creation through Securitization: Evidence from the CMBS Market Xudong An, Yongheng Deng, and Stuart A. Gabriel
8 TODs for Southern California: Challenges and Prospects Anastasia Loukaitou-Sideris
7 Production and Work In The American Metropolis: A Macroscopic Approach Allen J. Scott
6 Why Has House Price Dispersion Gone Up? Stijn Van Nieuwerburgh and Pierre-Olivier Weill
5 Adoption of Voluntary Environmental Standards: The Role of Signaling and Intrinsic Benefits in the Diffusion of the LEED Green Building Standards Charles J. Corbett and Suresh Muthulingam
4 The Land Assembly Problem Revisited Rohan Pitchford
2 Real Interest Rates, Expected Inflation, and Real Estate Returns: A Comparison of the U.S. and Canada Kuntara Pukthuanthong-Le and Richard W. Roll
1 Walking the Walk: Do Green Beliefs Translate Into Green Travel Behavior? Matthew E. Kahn and Eric Morris
2007
WP # Title Author(s)
17 Modeling Long Memory in REITs John Cotter and Simon Stevenson
16 New Evidence on Trends in the Cost of Urban Agglomeration Matthew E. Kahn
15 HUD Purchase Goals and Crowd Out: Do the GSEs Expand the Supply of Mortgage Credit? Stuart A. Gabriel and Stuart S. Rosenthal
14 Optimal Pricing Strategy with Price Dispersion: New Evidence from the Tokyo Housing Market Diehand (Della) Zheng, Yongheng Deng, Stuart A. Gabriel and Kiyohiko G. Nishimura
13 Non-Central City Support for, and Resistance to, Affordable Housing: Evidence from Southern California Kim Haselhoff and Paul Ong
12 Why Do The Poor Live in Cities? The Role of Public Transportation Edward L. Glaeser, Mathew E. Kahn and Jordan Rappaport
11 Gentrification Trends in New Transit Oriented Communities: Evidence from Fourteen Cities that Expanded and Built Rail Transit Systems Matthew E. Kahn
10 Land and Residential Property Markets in a Booming Economy: New Evidence from Beijing Siqi Zheng and Matthew E. Kahn
9 Alternative Variance Estimators for Pricing Options Robert Geske, Richard Roll and Yuzhao Zhang
8 The Cross-Sectional Dispersion of Commercial Real Estate Returns and Rent Growth: Time Variation and Economic Fluctuations Alberto Plazzi, Walter Torous and Rossen Valkanov
7 Catastrophic Risk and Credit Markets Mark J. Garmaise and Tobias J. Moskowitz
6 NIMBY Opposition to Housing Development in Southern California Kim Haselhoff & Paul Ong
5 Liquidity, Return, and Order Flow Linkages Between REITs and the Stock Market Avanidhar Subrahmanyam
4 Mobility, Residential Location, and The American Dream: The Intra-Metropolitan Geography of Minorty Home Ownership Stuart A. Gabriel and Gary Painter
3 Why Real Estate Prices Don't Decline Following Demand Shocks Stephen Day Cauley and Andrey D. Pavlov
2 Secondary Markets, Risk, and Access to Credit Evidence From the Mortgage Market Stuart A. Gabriel and Stuart S. Rosenthal
1 Housing Wealth, Financial Wealth, and Comsumption: New Evidence from Micro Data Raphael Bostic, Stuart Gabriel and Gary Painter