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EDUCATION |
2012 | Ph.D. in Economics, Florida State University. |
2010 | M.S. in Economics, Florida State University. |
2005 | Post-Graduate studies in Development, Universidad del Valle, Guatemala. |
2004 | B.S. in Mathematics-Economics and Urban Studies, Cum Laude, Furman University. |
2000 | H.S. diploma, Valedictorian, Lincoln High School. |
INTERESTS |
Research | Mortgage finance, risk management, housing, property taxation, law & economics. |
Policy | House price indexes, mortgage performance, credit risk transfers, capital policy. |
Teaching | Real estate, urban economics, econometrics, public finance, land use regulations. |
WORKING PAPERS |
1. "House Price Markups and Mortgage Defaults." (with P. Carrillo and W. Larson). FHFA Working Paper 18-02, 2018. Awarded the best paper in 2018 in real estate valuation by the American Real Estate Society. 2. "Robust Metropolitan House Price Indices." (with S. Bourassa and M. Hoesli). 3. "A New Home Affordability Estimate: What Share of Housing Stock Can Families Afford?" (with C. Chung, et al). FHFA Working Paper 18-04, 2018. Awarded the best paper in 2019 by a practicing professional by the American Real Estate Society. |
JOURNAL PUBLICATIONS |
1. "Local House Price Dynamics: New Indices and Stylized Facts." (with A. Bogin and W. Larson). Real Estate Economics, 47(2), 365-398, 2019. Lead article. Open access. Coverage: Calculated Risk, Chicago Tribune, New York Times, NBC News, Wall Street Journal, Washington Post. Earlier version: FHFA Working Paper 16-01. Open access. 2. "Local House Price Paths: Accelerations, Declines, and Recoveries." (with A. Bogin and W. Larson). Journal of Real Estate Finance and Economics, 58(2), 201-222, 2019. Earlier version: FHFA WP 16-02. Open access. 3. "Missing the Mark: Mortgage Valuation Accuracy and Credit Modeling." (with A. Bogin and W. Larson). Financial Analysts Journal, 75(1), 32-47, 2019. Awarded the best paper in 2016 in real estate market analysis by the American Real Estate Society. Coverage: National Mortgage News. Earlier version: FHFA Working Paper 16-04. 4. "Property Renovations and Their Impact on House Price Index Construction." (with A. Bogin). Journal of Real Estate Research, 41(2), 249-283, 2019. Awarded the best paper in 2017 in real estate valuation by the American Real Estate Society. Earlier version: FHFA Working Paper 17-02. 5. "How Low Can House Prices Go? Estimating a Conservative Lower Bound." (with A. Bogin and S. Bruestle). Journal of Real Estate Finance and Economics, 54(1), 97-116, 2017. Coverage: Calculated Risk, GARP, HousingWire, Inside Mortgage Finance, RealtyTrac. Awarded the best paper in 2015 in real estate cycles by the American Real Estate Society. Earlier version: FHFA WP 15-1. Open access. 6. "Overlooked Market Risk Shocks: Prepayment Uncertainty and Option-Adjusted Spreads." (with A. Bogin and N. Polkovnichenko). Journal of Fixed Income, 26(2), 5-15, 2016. Lead article. Open access. Earlier version: FHFA WP 15-3. Open access. 7. "Distressed Sales and the FHFA House Price Index." (with A. Leventis). Journal of Housing Research, 24(2), 127-146, 2015. Lead article. Coverage: WSJ blog, Appraisal Institute, HousingWire, Mortgage Bankers Association, Mortgage News Daily, and Mortgage Orb. Earlier version: FHFA WP 13-1. 8. "The Role of Representative Agents in the Property Tax Appeals Process." (with K. Ihlanfeldt). National Tax Journal, 68(1), 59-92, 2015. 9. "An Empirical Analysis of the Property Tax Appeals Process." (with K. Ihlanfedlt). Journal of Property Tax Assessment & Administration, 10(4), 5-34, 2014. Lead article. 10. "Generating Historically-Based Stress Scenarios Using Parsimonious Factorization." (with A. Bogin). Journal of Risk Finance, 15(5), 591-611, 2014. Coverage: Global Association of Risk Professionals (webcast) and Emerald (video). Earlier version: FHFA WP 13-2. Awarded Outstanding Paper of 2014 by the publisher and was the journal's most downloaded article published that year. Downloaded more than 1500 times. 11. "Collective Bargaining and Job Benefits in Florida Municipal Police Agencies, 2000-2009" (with W. G. Doerner). American Journal of Criminal Justice, 38(4), 657-677, 2013. 12. “Police Accreditation and Clearance Rates." (with W. G. Doerner). Policing: IJPSM, 35(1), 6-24, 2012. Lead article. Received Highly Commended Paper Award as one of the journal's most impressive pieces in 2012. 13. “City Government Structure: Are Some Institutions Undersupplied?" (with K. Ihlanfeldt). Public Choice, 149(2), 109-132, 2011. 14. “House Prices and City Revenues" (with K. Ihlanfeldt). Regional Science and Urban Economics, 41(4), 332-342, 2011. Coverage included the Federal Reserve Bank of Atlanta (blog, podcast, iTunes) and Lincoln Institute of Land Policy (Land Lines). 15. “Collective Bargaining and Job Benefits: The Case of Florida Deputy Sheriffs." (with W. G. Doerner). Police Quarterly, 13(4), 367-386, 2010. 16. “The Diffusion of Accreditation Among Florida Police Agencies.” (with W. G. Doerner). Policing: IJPSM, 32(4), 781-798, 2009. |
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ACHIEVEMENTS:
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TEACHING |
Instructor: |
Land Use Regulations (Housing & Case Law), Econometrics, Principles of Microeconomics. |
Graduate TA: |
Microeconomic Theory, Econometrics, Limited Dependent Variable Models. |
Undergrad TA: |
Market Ethics, Introduction to Economic Thinking, Principles of Macroeconomics, Principles of Microeconomics. |
PROFESSIONAL:
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