I am an Assistant Professor of Finance at Yale School of Management. I received my PhD from the Economics Department at Columbia University.
My research explores topics in real estate, corporate finance, and macro-finance.
I study issues related to the regulation of real estate markets and where firms choose to locate their operations in response to local tax and financing incentives. My work also touches on household finance and climate finance aspects of property investment, including climate-proofing buildings and green home energy adoption.
My CV is here My SSRN page Google Scholar Official Yale page
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If you are a Yale undergraduate or graduate student interested in part-time research assistant opportunities, please see application instructions here.
Recent updates:
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New version of “Picking Up the PACE: Loans for Residential Climate-Proofing,” joint with Aymeric Bellon, Francesco Mazzola, and Guosong Xu. We added new results showing how PACE adoption among counties in Florida helps lower homeowners insurance costs.
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​Brand new paper, “Pricing Government Contract Risk Premia: Evidence from the 2025 Federal Lease Terminations,” joint with Soon Hyeok (Steve) Choi. We show how DOGE lease cancelation decisions negatively impacted CMBS bond pricing and commercial property performance, leading to large projected office value losses.
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New version of “Housing Is the Financial Cycle: Evidence from 100 Years of Local Building Permits,” joint with Gustavo Cortes. We build a new database from historical reports covering a century of monthly building permits for all 50 states plus 60 MSAs. Building permit growth (BPG) volatility predicts stock and corporate bond return volatility at 12-month horizons, driven by housing supply elastic parts of the U.S.​​​​​