Research areas
Real estate finance, REIT predictability, derivatives pricing, financial econometrics, default and credit risk. Long-time member of the Plazzi-Torous-Valkanov collaboration on commercial real estate cap-rate and rent-growth predictability. Affiliated with UCLA Anderson and later with the MIT Center for Real Estate / MIT Sloan.
Key papers
- expected-returns-expected-growth-rents-commercial (2010, Review of Financial Studies) — co-authored with Plazzi and Valkanov. Establishes that cap rates predict expected returns for apartments, industrial, and retail but not for offices.
- ghysels-forecasting-real-estate-prices (2013, Handbook of Economic Forecasting Vol II) — co-authored with Ghysels, Plazzi, and Valkanov.
Recent work
(to be populated by future ingests)
Collaborators
- eric-ghysels — Handbook chapter co-author.
- alberto-plazzi — Handbook chapter co-author and long-time CRE research collaborator.
- rossen-valkanov — Handbook chapter co-author and long-time CRE research collaborator.
My notes
Senior co-author on the Plazzi-Torous-Valkanov line of work on commercial real estate cap-rate predictability that the Handbook chapter relies on heavily.