The Ziman Center was formed with a mandate to create and administer UCLA’s activities surrounding the topic of real estate. To further this mandate The Center has developed a community of scholars who undertake real estate related research. These Affiliated Faculty are drawn from department throughout the UCLA campus, including management, economics, law, public policy, urban planning, engineering, and architecture. The Ziman Center Working Paper Series is made up of research undertaken by the Affiliated Faculty.
2007-2008 Ziman Center Affiliated Faculty
Leah P. Boustan is an Assistant Professor in the Department of Economics at the University of California, Los Angeles, where she is also an affiliate of the California Center for Population Research (CCPR). She earned her PhD in economics from Harvard University.
Professor Boustan’s research interests are at the intersection of economic history and modern labor and urban economics. Her research has focused on the effect of black migration from the rural South on receiving areas in the North.Stephen Day Cauley is Director of Research for the Richard S. Ziman Center at the UCLA Anderson School of Management, where he teaches real estate related courses. He earned his PhD from the Department of Economics at UCLA
Dr. Cauley's research has centered on the economic efficiency of real estate markets, the role real estate has in a mixed asset portfolios and the securitization of equity investments in real estate. Dr. Cauley was responsible for the development of the CRSP/Ziman REIT database.
William A. V. Clark is a Professor in the Department of Geography at the University of California, Los Angeles. Professor Clark earned his Ph.D. in Geography from the University of Illinois and D.Sc. from the University of Auckland.
Professor Clark’s research has been concerned with the internal changes in US cities, especially changes that have occurred in response to residential mobility and migration. Professor Clark is currently investigating the interaction of class, race and geography in metropolitan areas, as well as international migration.
Charles Corbett is a Professor and former Associate Dean at the UCLA Anderson School of Management. He is affiliated with the UCLA Institute of the Environment. Professor Corbett earned a Ph.D. in Production and Operations Management from INSEAD.
Professor Corbett's research has focused on two areas: environmental issues in business, and contracting and coordination in business networks. His environmental work has revolved around examining links between good business practices and environmental protection. While his other work has focused on how contracts can help improve coordination between buyers and suppliers.
John Cotter is an Associate Professor at University College Dublin and a visiting scholar at the UCLA Anderson School of Management. He earned his Ph.D. from Queen’s University.
Professor Cotter’s research has focused on asset pricing and risk management. He recently completed research that examined volatility and its properties in real estate investment markets. He is currently investigating volatility modeling of US house prices.
Randall Crane is a Professor in the School of Public Affairs, and the Associate Director of the Institute of Transportation Studies at the University of California, Los Angeles. Professor Crane earned his PhD. in Urban Studies and Planning at the Massachusetts Institute of Technology.
Professor Crane studies urban development and environmental questions; some of which are applied, such as the provision of urban services in developing countries, environmental governance reform, and transportation policy, while others involve more basic research on planning mechanisms and behavioral responses, such as urban design/transportation linkages, the determinants of metropolitan structure, and the measure, meaning, and governance of sprawl.
Dana Cuff is a Professor in the School of Public Affairs at the University of California, Los Angeles. Professor Cuff earned her Ph.D. in Architecture from the University of California, Berkeley.
Professor Cuff's research focuses on affordable housing, modernism, and the politics of place. Her current work concerns the relationship between emerging digital technologies and their social implications in physical space.
Ely Dahan is an Assistant Professor at the UCLA Anderson School of Management. Professor Dahan earned an MBA from Harvard and his Ph.D. from the Operations & IT program at the Stanford Business School.
Professor Dahan’s research investigates new models and methods for developing products. He has developed internet-based market research methods, mathematical models of parallel and sequential prototyping, the economics of cost reduction, and strategies for mass customization.
J.R. DeShazo is an Associate Professor in the School of Public Policy and the Director of the Lewis Center for Regional Studies at the University of California, Los Angeles. Professor DeShazo was a Rhodes Scholar at Oxford and earned his Ph.D. from Harvard University.
Professor DeShazo’s research focuses on environmental economics and policy; local public finance, with applications to urban infrastructure and protected areas; political economy; and the financial management of public services.
Matthew P. Drennan is a Visiting Professor in the Department of Urban Planning at the University of California, Los Angeles. He earned his Ph.D. in economics from New York University.
Professor Drennan’s central research interest has been explaining how an evolving structure of national economic activity is manifested in the transformation of metropolitan economies. He has undertaken a demographic and economic study of Upstate New York.
Stuart A. Gabriel is the Arden Realty Chair at the UCLA Anderson School of Management. He serves as Director of the Ziman Center for Real Estate at UCLA. Professor Gabriel earned his Ph.D. in Economics from the University of California, Berkeley.
Professor Gabriel’s research focuses on topics of real estate finance and economics, housing and mortgage markets, urban and regional economics, and macroeconomics. His most recent research focuses on efficiency and equity outcomes in mortgage markets, the effects of housing wealth on macroeconomic activity, house price fluctuations, and the mortgage pricing effects of derivative mortgage-backed securities. Professor Gabriel is a past President of the American Real Estate and Urban Economics Association and currently serves on its Board of Directors. He also is a member of the Board of Directors of Asian Real Estate Society and the Genesis Los Angeles Economic Growth Corporation and a Fellow of the Homer Hoyt Institute for Advanced Real Estate Studies.
Mark Garmaise is an Assistant Professor at the UCLA Anderson School of Management. He earned his Ph.D. from the Graduate School of Business at Stanford University.
Professor Garmaise’s research has spanned the areas of corporate finance, real estate, entrepreneurship and venture capital. He recently completed research that investigated the effects of catastrophic risk on real estate financing and prices.Mark Grinblatt is the J. Clayburn LaForce Chair at the UCLA Anderson School of Management. He earned his PhD from Yale University.
Professor Grinblatt is a research associate of the National Bureau of Economic Research. He is an associate editor of four journals, and is the President-Elect and Program Chairman of the Western Finance Association. His research has focused on asset pricing, rational expectations equilibria, performance evaluation, stock market anomalies, corporate finance, derivatives valuation, agency theory, and behavioral finance. One of Professor Grinblatt’s papers received a Smith Breeden 2001 distinguished paper award.
Matthew E. Kahn is a Professor at the Institute of the Environment and the Departments of Economics and Public Policy at the University of California, Los Angeles. He earned his Ph.D. in Economics from the University of Chicago.
Professor Kahn’s research focuses on environmental and urban issues including an investigation of the costs and benefits of environmental regulation. His research on international environmental issues has focused on the costs of urbanization in Santiago, Chile and the relationship between international trade and environmental quality.
Edward E. Leamer is the Chauncey J. Medberry Chair at the UCLA Anderson School of Management. He holds joint academic appointments in the departments of statistics and economics. Furthermore, he is the director of the UCLA Anderson Forecast. Professor Leamer earned his Ph.D. in economics from the University of Michigan.
Professor Leamer is a research associate of the National Bureau of Economic Research, a fellow of the American Academy of Arts and Sciences and the Econometric Society. His research interests cover a broad set of topics in the analysis of non-experimental data and the economics of globalization. Among his recent areas of interests are an episodic analysis of the United States business cycle, the impact of the Internet on economic geography, the effect of globalization on the U.S. economy and the potential impact of the FTAA on inequality in Latin America.
Francis A. Longstaff is the Allstate Professor of Insurance and Finance at the UCLA Anderson School of Management. Professor Longstaff earned his PhD from the University of Chicago.
Professor Longstaff’s research interest includes: fixed income markets and term structure theory; derivative markets and valuation theory; credit risk; computational finance, liquidity and its effects on prices and markets, and the role of arbitrage in financial markets.
Anastasia Loukaitou-Sideris is a Professor and Department Chair of the Department of Urban Planning at the University of California, Los Angeles. She earned her Ph.D. in Urban and Regional Planning from the University of Southern California.
Professor Loukaitou-Sideris' research has focused on the public environment of the city, its physical representation, aesthetics, social meaning and impact on the urban resident. Her work seeks to integrate social and physical issues in urban planning and architecture. Professor Loukaitou-Sideris' research includes documentation and analysis of the social and physical changes that have occurred in the public realm; cultural determinants of design and planning and their implications for public policy; quality-of-life issues for inner city residents; transit security, and urban design and transportation issues.
Hanno Lustig is an Assistant Professor in the Department of Economics at the University of California, Los Angeles. He earned his Ph.D. in economics from Stanford University.
Professor Lustig’s research is at the intersection of Asset Pricing, Macroeconomics and International Finance. His recent research includes an investigation of the macroeconomic implications of household finances, which includes housing. Professor Lustig is a Research Fellow at the National Bureau of Economic Research
Vinit Mukhija is an Assistant Professor in the Department of Urban Planning at the University of California, Los Angeles. He earned his Ph.D. in Urban Planning from the Massachusetts Institute of Technology.
Professor Mukhija’s research focuses on affordable housing in developing countries, and Third World-like housing conditions in the United States. He is interested in the globalization of ideas and institutions of housing and land development. His research evaluates the potential and pitfalls of institutions from developed countries in housing delivery in developing countries, and the relevance of housing ideas and frameworks from developing countries in developed countries.
Paul Ong is a Professor of Urban Planning, Social Welfare and Asian American Studies at the University of California, Los Angeles. He earned his Ph.D. in economics from the University of California, Berkeley.
Professor Ong has undertaken research on the labor market status of minorities and immigrants, displaced high-tech workers, and the relationship between work, welfare and transportation access. His previous research have included studies of the impact of defense cuts on California's once-dominant aerospace industry, the impact of immigration on the employment status of young African Americans, and the influence of car ownership and subsidized housing on welfare usage.
Ryan Ratcliff is an economist at the UCLA Anderson Forecast. He earned his Ph.D. in economics from the University of California, Berkeley.
Dr. Ratcliff’s is the principal contributor to the quarterly California Forecast, and is a regular contributor to county level forecasts in Southern California and the East Bay. His academic research centers on integrating financial forecasts into macroeconomic forecasting.
Richard Roll is the Japan Alumni Chair in Finance at the UCLA Anderson School of Management. He earned his Ph.D. from the University of Chicago.
Professor Roll has wide ranging research interest that include arbitrage pricing theory, asset pricing, bond markets, derivatives, efficient markets, securities, hedging strategies, and investment theory. He is the past president of the American Finance Association and is a fellow of the Econometric Society. He has been an associate editor of eleven different journals in finance and economics.
Richard H. Sander is a Professor at the UCLA School of Law. He earned both his Ph.D. in economics and J.D. from Northwestern University. Professor Sanders is the director of the Empirical Research Group (ERG) at the UCLA School of Law.
Professor Sander has worked on questions of social and economic inequality. Recently he has pursued two new interests: the reasons behind the American legal profession’s explosive growth since the mid-1960s, and the structure and effects of law school admissions policies.
Eduardo Schwartz is the California Chair in Real Estate and Land Economics at the UCLA Anderson School of Management. He earned his Ph.D. in Finance from University of British Columbia.
Professor Schwartz is an expert in various dimensions of asset and securities pricing, his recent research has focused on pricing Internet companies, interest rate models, asset allocation issues, evaluating natural resource investments, the stochastic behavior of commodity prices and valuing patent-protected R&D projects. He was among the first researchers to develop the real options method of pricing investments under uncertainty. Professor Schwartz has served as associate editor for more than a dozen journals. He is a former president of the Western Finance Association and the American Finance Association. He is a fellow of the American Finance Association and the Financial Management Association International. He is also a research associate of the National Bureau of Economic Research.
Allen J. Scott is a Distinguished Professor of Public Policy and Geography at the University of California, Los Angeles. He earned his Ph.D. in Geography from Northwestern University.
Professor Scott's research has focused on issues of industrialization, urbanization, and regional development. He has investigated the interrelations between industrial organization, technology, local labor markets, and location, with particular reference to the phenomenon of agglomeration economies. He also has carried out studies of individual industrial sectors in the United States, Europe and Asia. Most recently, he has been researching the origins and development of high-technology industry in Southern California. Professor Scott is a Fellow of the Royal Statistical Society and a Guggenheim and Fulbright Fellow.
Donald Shoup is a Professor of Urban Planning at the University of California, Los Angeles. He earned his Ph.D. in Economics at Yale University.
Professor Shoup has studied the issue of parking as a key link between transportation and land use, with important consequences for cities, the economy, and the environment. His research on employer-paid parking led to the passage of California’s parking cash-out law, and to changes in the Internal Revenue Code to encourage parking cash out. Professor Shoup is a Fellow of the American Institute of Certified Planners.
Avandhar Subrahmanyam is the Goldyne and Irwin Hearch Chair in Money and Banking at the UCLA Anderson School of Management. He earned his Ph.D. in Finance from the University of California, Los Angeles.
Professor Subrahmanyam’s research has focused on asset pricing, behavioral finance, derivatives, stock exchange trading mechanisms, and market liquidity. He is an expert in behavioral finance and economics. He is the co-editor of the Journal of Financial Markets and he previously served as associate editor of Review of Financial Studies. Professor Subrahmanyam is a recipient of the Smith Breeden Prize for the best paper published in the Journal of Finance.Geoffrey Tate is an Assistant Professor at the UCLA Anderson School of Management. He earned his Ph.D. in Economics from Harvard University.
Professor Tate’s primary research interests are in the areas of empirical corporate finance and behavioral finance. In his research he has studied the effects of overconfidence on a firms’ behavior.
Walter Torous is the Lee and Seymour Graff Professor and Finance Area Chair at the UCLA Anderson School of Management. Professor Torous was the founding director of the Ziman Center for Real Estate. He earned his Ph.D. Economics at the University of Pennsylvania.
Professor Torous’ research interests include the pricing of financial instruments (options, future, risky debt, mortgages), the reorganization of financially distressed firms, as well as statistical issues in finance. His recent research included an investigation of the cross-sectional dispersion of commercial real estate returns. Professor Torous is a co-editor of the journal Real Estate Economics.
John Wallace is a Professor in the Department of Civil and Environmental Engineering at the University of California, Los Angeles. He earned his Ph.D. in Civil Engineering from the University of California, Berkeley.
Professor Wallace’s research interests lie in the area of earthquake engineering, with a focus on the performance and behavior of reinforced concrete structures. Current research topics include the evaluation of displacement-based design techniques for reinforced concrete structural walls, anchorage of steel reinforcement to concrete, use of high performance concrete and composite systems in seismic regions, and evaluation of near field ground motions on structural systems. The primary objectives of these studies are to improve our understanding of buildings and bridge behavior in strong earthquakes such that comprehensive evaluation and design recommendations are available to structural engineers.
Pierre-Olivier Weill is an Assistant Professor of Economics at the University of California, Los Angeles. He earned his Ph.D. in economics from Stanford University.
Professor Weill’s research interests are at the intersection of asset pricing and Macroeconomics; he has investigated the Rationality and Learning.
Adam Winkler is a Professor at the UCLA School of Law. He earned his J.D. from the New York University School of Law.
Professor Winkler is a specialist in American constitutional law. His scholarship has touched upon a diverse array of topics, such as the right to vote, corporate free speech rights, campaign finance law, affirmative action, judicial independence, constitutional interpretation, and the right to bear arms. Professor Winkler has also written on corporate social responsibility and international economic sanctions.
Liu Yang is an Assistant Professor of Finance at the UCLA Anderson School of Management. She earned her Ph.D. in Finance from the University of Maryland.
Professor Yang’s research interests include theoretical and empirical corporate finance in the areas of mergers and acquisitions, corporate restructuring, corporate governance, and financial intermediation.
Jonathan Zasloff is a Professor at the UCLA School of Law. He serves as the Associate Director of the Ziman Center for Real Estate at UCLA. Professor Zasloff earned his J.D. from Yale University and a Ph.D. in History from Harvard University.
Professor Zasloff’s recent work concerns the influence of lawyers and legalism in US external relations. More generally, his recent interests focus on the response of public institutions to social problems, and the role of ideology in framing policy responses.
