UCL Department of Economics


Housing, Housing Credit, and the Macroeconomy Conference

Thursday 14 and Friday 15 September 2017

Conference organisers

Morten Ravn (University College London and CEPR)

Paolo Surico (London Business School and CEPR)

Please direct all enquiries to the Event Manager, Nirusha Vigi


You are able to register by filling in the form below until midday (12pm GMT) on Wed 13th September.


Thursday 14 September

08:00 - 08:45
Registration and coffee
08:45 - 09:45

Kurt Mitman (IIES, Stockholm University, CEPR), “Monetary Policy, Heterogeneity, and the Housing Channel,” (with Aaron Hedlund, Fatih Karahan and Serdar Ozkan)

Discussant: Roberto Pancrazi (Warwick University)

09:45 - 10:00
Coffee break
10:00 - 11:00

Ralph Luetticke (University College London), “Housing Market Freezes, Deleveraging, and Aggregate Demand,” (with Christian Bayer).

Discussant: Clodomiro Ferreira (London Business School)

 11:00 - 12:00

Veronika Selezneva (CERGE-EI), “Distributional Effects of Monetary Policy,” (with Matthias Doepke and Martin Schneider)

Discussant: Vincent Sterk (University College London, CEPR)

12:00 - 13:15
Lunch break
13:15 - 14:15

Joseph Vavra (University of Chicago), “Regional Heterogeneity and Monetary Policy,” (with Martin Beraja, Andreas Fuster and Erik Hurst)

Discussant: Clara Wolf (Sciences Po)

14:15 - 15:15

Hamish Low (Cambridge University), “Consumption Spending, Housing Investments and the Role of Leverage,” (with Thomas Crossley and Peter Levell).

Discussant: John Muellbauer (Oxford University, CEPR)

 15:15 - 15:30
 Coffee break
15:30 - 16:30

Eduardo Davila (New York University), “House Price Beliefs and Mortgage Leverage Choice,” (with Michael Bailey, Theresa Kuchler and Johannes Stroebel).

Discussant: Philippe Bracke (Bank of England)

 16:30 - 17:30

Timothy J. McQuade (Stanford University), “Mortgage Design in an Equilibrium Model of the Housing Market,” (with Adam Guren and Arvind Krishnamurthy).

Discussant: Alex Michaelides (Imperial College, CEPR)

19:00 19:00: Conference Dinner (by invitation only)

Friday 15 September

09:00 – 10:00

Stefania Albanesi (University of Pittsburgh, CEPR), “Credit Growth and the Financial Crisis: A New Narrative,” (with Giacomo di Giorgi and Jaromir Nosal).

Discussant: Ambrogio Cesa-Bianchi (Bank of England)

10:00 - 10:15 Coffee break
10:15 - 11:15

Moritz Kuhn (Bonn University, CEPR), “The Great American Debt Boom, 1948-2013,” (with Moritz Schularick and Ulrike Steins).

Discussant: Ethan Ilztezki (London School of Economics, CEPR)

 11:15 - 12:15

Andrew Fieldhouse (Cornell University), “The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy,” (with Karel Mertens and Morten O. Ravn).

Discussant: Sergi Basco (Universitat Autònoma Barcelona)

12:15 – 13:30 Lunch break
13:30 – 14:30

Giancarlo Corsetti (University of Cambridge), “The Missing Internal Devaluation: Nominal and Real Adjustment to the Great Recession within the US,” (with Luca Dedola and Riccardo Trezzi)

Discussant: Giovanni Ricco (Warwick University)

 14:30 - 15:00
 Coffee break
15:00 - 16:00

Matteo Benetton (London School of Economics), “Competition and Macro-Prudential Regulation: An Empirical Model of the UK Mortgage Supermarket.”

Discussant: Valentina Michelangeli (Bank of Italy)

 16:00 - 17:00

Giorgio Primiceri (Northwestern University, CEPR), “The Mortgage Rate Conundrum,” (with Alejandro Justiniano and Andrea Tambalotti)

Discussant: Kilian Huber (London School of Economics)


5th Floor State Rooms, 30 Euston Square, London, NW1 2FB, United Kingdom 

Conference Dinner

The conference dinner is by invitation only and will take place at London Business School (Garden Room), Regent's Park NW1 4SA.