Lu Liu

The position will be up to 2 years, shared between UIUC and Wharton (with the option to do the first year remotely or spend the full two years at Wharton). Please apply asap using the link below. The priority deadline is Dec 1, and we will review on a rolling basis.

📣🚨New pre-doc position! Come work with Julia Fonseca and me on mortgage, housing, and labor markets. We'll be tackling policy-relevant questions with both empirical and structural methods. #econsky #economics -- Link: illinois.csod.com/ux/ats/caree...

Come join us for the #ASSA2025 session on Mortgage Lock-In (Hilton Union Square, Golden Gate 3) today at 10:15h!

Your home insurance costs more in high-risk areas. Your mortgage should, too. Fannie Mae and Freddie Mac don’t factor climate change into rates. More frequent floods, hurricanes and wildfires raise systemic default risk.

Happy to share my opinion piece with Stijn on how the GSEs should price climate risks, and the risks that emerge when they don't.

www.marketwatch.com/story/your-h...

Excited to debut my new paper, "Housing Is the Financial Cycle: Evidence from 100 Years of Local Building Permits,” joint with @cortesgustavos.bsky.social. We document that building permits predict financial market volatility across a century of U.S. economic history.
papers.ssrn.com/abstract=485...

Swings in Building Permits Can Help Predict Financial Downturns‌ Yale SOM’s Cameron LaPoint and his co-author painstakingly assembled a century of local building permits. Again and again, they found, peaks in the issuing of permits preceded periods of economic turm...

12/END Close to publication, we'll launch a website to make our full dataset publicly accessible via Tableau applications. Everyone will soon be able to explore 100 years of housing supply data.

Link to full paper: papers.ssrn.com/abstract=485...
Summary: insights.som.yale.edu/insights/swi...

I made a starter pack of academics doing finance research, including finance professors, financial economists, and other economists interested in finance go.bsky.app/944zQWd

Research Associate, Rodney White Center for Financial Research, Wharton School University Overview The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school co...

We’re hiring pre-docs!

Gideon Bornstein, Sergio Salgado, and I are accepting applications for a full-time pre-doc. Work alongside us at Wharton on research in macroeconomics, household finance, and inequality. Priority deadline is *Nov. 26*

Apply here: wd1.myworkdaysite.com/en-US/recrui...

Not a picture I took though, it's my desktop background 😁

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Wildest thing about the American economy I've learned after two years at the Federal Reserve: Almost 1% of US GDP is residential realtor commissions!

fred.stlouisfed.org/graph/?g=1b2IC