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, public health, 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.

2021

WP #	Title	Author(s)
12	The Impact of Crisis-Period Interest Rate Declines on Distressed Borrowers	Chandler Lutz and Stuart Gabriel
11	Estimating Parents' Valuation on Elite School in China	Fangzhu Zhou
10	A Quarter Century of Mortgage Risk	Morris A. Davis, William D. Larson, Stephen D. Oliner and Benjamin R. Smith
9	Public Health Management of COVID-19: The Role of Belief Disagreement in Virus Spread, Vaccine Resistance, and Closure Response	Danny Ben-Shahar, Stuart Gabriel and Roni Golan
8	The COVID-19 Pandemic Housing Crisis: Identifying Owner-Vulnerable Neighborhoods in California	Paul M. Ong and Chhandara Pech
7	Booms and Busts in Housing Market and Health Outcomes for Older Americans	Dahai Yue and Ninez A Ponce
6	The (Online) Politics of Housing in the United States: Decoding Debates on ‘Housing Twitter’	Andre Comandon and Kenton Card
5	More Than Shelter: The Effects of Rental Eviction Moratoria on Household Well-Being	Xudong An, Stuart A. Gabriel, and Nitzan Tzur-Ilan
4	Saving Black Homeownership: Just and Fair Pandemic Relief and Recovery	Paul M. Ong, Chhandara Pech, Tracey Beltrán and Lori R. Gay
3	Default Option Exercise over the Financial Crisis and Beyond (revised)	Xudong An, Yongheng Deng and Stuart A. Gabriel
2	A Crisis of Missed Opportunities? Foreclosure Costs and Mortgage Modification During the Great Recession (revised)	Stuart A. Gabriel, Matteo Iacoviello and Chandler Lutz
1	In Search of Affordable Sustainability	Emma M. French, Jason Karpman, Eric Dasmalchi and Sam Lau

2020

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WP #	Title	Author(s)
14	Cities, Productivity, and Trade	Alvaro Garcia-Marin, Andrei Potlogea, Nico Voigtländer and Yang Yang
13	California Neighborhoods and COVID-19 Vulnerabilities	Paul M. Ong, Chhandara Pech and Megan Potter
12	Transforming Homeowners into Landlords: A Survey of Homeowners with Accessory Dwelling Units in Los Angeles	Rebecca E. Crane
11	Los Angeles Neighborhoods and COVID-19 Medical Vulnerability Indicators: A Local Data Model for Equity in Public Health Decision-Making	Paul M. Ong, Chhandara Pech, Nataly Rios Gutierrez and Vickie M. Mays
10	COVID-19 and Renter Distress: Evidence from Los Angeles	Michael Manville, Paavo Monkkonen, Michael C. Lens and Richard K. Green
9	Are Residential Energy Efficiency Programs Effective? An Empirical Analysis in Southern California	Yating Chuang and Magali Delmas
8	Systemic Racial Inequality and the COVID-19 Homeowner Crisis	Karna Wong, Paul M. Ong and Silvia R. González
7	Book-to-Market, Mispricing, and the Cross-Section of Corporate Bond Returns	Söhnke M. Bartram, Mark Grinblatt and Yoshio Nozawa
6	Political Threat and Propaganda: Evidence from the U.S. South	Sebastian Ottinger and Max Winkler
5	Betting on the House: Subjective Expectations and Market Choices	Ricardo Perez-Truglia and Nicolas Bottan
4	Cash to Spend: IPO Wealth and House Prices (revised)	Barney Hartman-Glaser, Mark Thibodeau and Jiro Yoshida
3	Economic Impacts of the COVID-19 Crisis in Los Angeles: Identifying Renter-Vulnerable Neighborhoods	Paul Ong, Chhandara Pech, Elena Ong, Silvia R. González and Jonathan Ong
2	A Crisis of Missed Opportunities? Foreclosure Costs and Mortgage Modification During the Great Recession (revised)	Stuart A. Gabriel, Matteo Iacoviello and Chandler Lutz
1	The Valuation of Local Government Spending: Gravity Approach and Aggregate Implications	Wookun Kim

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2019

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WP #	Title	Author(s)
9	Default Option Exercise over the Financial Crisis and Beyond (revised)	Xudong An, Yongheng Deng and Stuart A. Gabriel
8	Living in the 21st Century Schoolyard: Exploring the School-Housing Nexus in Southern California	Dana Cuff, Gus Wendel, Rayne Laborde, Katherine Taylor-Hasty and Kenny Wong
7	Cash to Spend: IPO Wealth and House Prices	Barney Hartman-Glaser, Mark Thibodeau and Jiro Yoshida
6	Returns to Owner-Occupied Housing and Wealth Inequality	Paula Beltran, David Lindsay and Diego Zuniga
5	A Crisis of Missed Opportunities? Foreclosure Costs and Mortgage Modification During the Great Recession (revised)	Stuart A. Gabriel, Matteo Iacoviello and Chandler Lutz
4	Liquidity Provision, Credit Risk and the Bond Spread: New Evidence from the Mortgage Market	Xudong An and Timothy J. Riddiough
3	Neighborhood Foreclosure Concentration and the Decision to Default	Xudong An, Yongheng Deng, Stuart A. Gabriel and Chenxi Luo
2	Wall Street Single-Family Homes in Los Angeles County: An Analysis of Invitation Homes	Deirdre Pfeiffer, Silvia R. González, Paul M. Ong, and Chhandara Pech
1	Religion, Ideology, and Housing Affordability: Israeli Settlement of the West Bank	Danny Ben-Shahar, Stuart A. Gabriel, and Roni Golan

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2018

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WP #	Title	Author(s)
11	Developers' Market Power: How do Developers Price New Housing in a Highly Oligopolistic City?	Siu Kei Won, Ling Li and Paavo Monkkonen
10	Housing Cost, Location Choice, and Settlement Intention Among Migrants in China	Wanyang Hu
9	Economic Consequences of the U.S. Convict Labor System	Michael Poyker
8	Nowhere to Run, Nowhere to Hide: Asset Diversification in a Flat World (revised)	John Cotter, Stuart A. Gabriel and Richard Roll
7	Expectations with Endogenous Information Acquisition: An Experimental Investigation	Andreas Fuster, Ricardo Perez-Truglia and Basit Zafar
6	Housing Affordability and Inequality: a Consumption-Adjusted Approach (revised)	Danny Ben-Shahar, Stuart Gabriel, and Roni Golan
5	Can't Get There from Here: Affordability Distance to a Superstar City	Danny Ben-Shahar, Stuart Gabriel, and Roni Golan
4	Opposition to Development or Opposition to Developers? Survey Evidence from Los Angeles County on Attitudes towards New Housing	Paavo Monkkonen and Michael Manville
3	Financially Constrained Servicers and Aggressive Foreclosures	Darren Aiello
2	Property Tax Shocks and Macroeconomics	François Geerolf and Thomas Grjebine
1	The Impact of Federal Housing Policy on Housing Demand and Homeownership: Evidence from a Quasi-Experiment	Morris A. Davis, Stephen D. Oliner, Tobias J. Peter and Edward J. Pinto

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2017

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WP #	Title	Author(s)
10	The Wealth Building Home Loan	Stephen D. Oliner, Tobias Peter and Edward J. Pinto
9	The Impact of Unconventional Monetary Policy on Real Estate Markets (revised)	Stuart A. Gabriel and Chandler Lutz
8	Too Big to Disclose: Firm Size and Materiality Blindspots in Securities Regulation	George S. Georgiev
7	Competing for Deal Flow in Mortgage Markets	Darren J. Aiello, Mark J. Garmaise and Gabriel Natividad
6	Housing Affordability and Inequality: A Consumption-Adjusted Approach	Danny Ben-Shahar, Stuart A. Gabriel, and Roni Golan
5	Are Lemons Sold First? Dynamic Signaling in the Mortgage Market	Manuel Adelino, Kristopher Gerardi and Barney Hartman-Glaser
4	Collateral Constraints, Wealth Effects, and Volatility: Evidence from Real Estate Markets (revised)	Barney Hartman-Glaser and William Mann
3	Peak Load Energy Management by Direct Load Control Contracts	Ali Fattahi, Sriram Dasu, Reza Ahmadi
2	The Effectiveness of U.S. Energy Efficiency Building Labels	Omar Isaac Asensio and Magali A. Delmas
1	A Crisis of Missed Opportunities? Foreclosure Costs and Mortgage Modification During the Great Recession (revised)	Stuart A. Gabriel, Matteo Iacoviello and Chandler Lutz

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2016

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WP #	Title	Author(s)
19	On the Interest Rate Sensitivity of REITs: Evidence from Twenty Years of Daily Data	David Shulman
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

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2015

More

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

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