Dr. Stephen Oliner, UCLA Ziman Center Senior Research Fellow, and UCLA Anderson Forecast Senior Economist, currently works as an economic consultant after having completed a distinguished career at the Federal Reserve Board.
During the first half of his career at the Fed, Steve analyzed macroeconomic developments in the U.S. economy, with a focus on business capital spending and commercial real estate. For the second half of his career, Steve's work concentrated on U.S. financial markets, corporate finance, and household finance, but he retained responsibilities in his prior areas of expertise.
Dr. Oliner's research has covered a variety of topics, including work on business investment spending, productivity growth, information technology, monetary policy, financial markets, and real estate issues. He has compiled a substantial publication record, including articles in the American Economic Review, Quarterly Journal of Economics, Journal of Financial Economics, Journal of Econometrics, Brookings Papers on Economic Activity, Review of Economics and Statistics, Economic Inquiry, Journal of Economic Perspectives, and Journal of Money, Credit, and Banking.
Steve's current research focuses squarely on real estate topics. One paper uses data on land transactions to create land price indexes for a large number of cities in the United States; the indexes document that land prices are extremely volatile relative to the prices for other types of real estate. Another paper analyzes the factors that affect the length of the planning period for commercial construction projects using national data on project timelines; preliminary results indicate that the planning periods are substantial and have become longer over time.
Dr. Oliner earned his Ph.D. in economics from the University of Wisconsin.