Education

BA, economics, Northwestern University

Ph.D., economics, Massachusetts Institute of Technology

Positions Held

At Haas School of Business since 1991:

1991 - present, Full Professor of Finance and Real Estate

1991 - present, Co-Chairman, Fisher Center for Real Estate & Urban Economics, Haas School of Business

1998 - present, Willis Booth Professor of Banking, Finance, and Real Estate

2004 - present, Board Member, Berkeley Center for Law, Business and the Economy (Boalt School of Law)

2004-2005, Chairman, Real Estate Group

2001 - 2002, Chairman, Finance Group

1968 - 1991, Assistant, Associate, and Full Professor, Princeton University

External Service and Assignments

Current affiliations:

* Fitch Ratings Academic Advisory Board

* Independent Director, Genworth Financial Mutual Funds

Past affiliations:

* Visiting Scholar, Federal Reserve Bank of San Francisco

* Associate editor: Journal of Economic Perspectives; Journal of Finance, Journal of Money, Banking and Credit, Journal of Monetary Economics, and Housing Finance Review

* Public interest director, Federal Home Loan Bank of New York and other thrift institutions

* Member, advisory council, Federal Home Loan Mortgage Corporation

* Consultant, World Bank for technical assistance to Russia

* Consultant, China 1990 Institute (banking reform in China)

* Consultant, housing and mortgage market activity, Federal Reserve Board, US Treasury Department, US Department of Housing and Urban Development, and Federal Home Loan Bank System

Current Research and Interests

* Catastrophe insurance (terrorism and earthquakes)

* Real estate markets and real estate finance

* Financial institutions and lending activity

* International trade and the California economy

Selected Papers and Publications

See Research homepage

Teaching

* BA230M, Asset-Backed Securitization (MFE program)

* BA289A, Ph.D. Real Estate Seminar

* BA298, Real Estate Research Seminar

* BA183, Real Estate Finance

* BA283, Real Estate Finance

Honors, Awards, and Grants

* Northwestern University, Highest Honors and Phi Beta Kappa, 1964

* MIT, Woodrow Wilson Fellowship; N.D.E.A. IV Fellowship, 1965 to 1968

* National Science Foundation Grants, 1973, 1975, 1979

* "Who's Who in Business Higher Education", "Who's Who in Economics", "Who's Who in America", 2001

* Fellow, Homer Hoyt Institute in Real Estate, 2003

* California Policy Research Center 1998, and 2002-2003

* Center for International Trade Development Grant, 2005-2006

* Research Institute for Housing America Trust Fund Grant, 2007

* Berkeley-National University of Singapore Risk Management Institute Grant, 2007

* Alfred P. Sloan Foundation Grant, 2007