Faculty Research Fellows

In 2005, the Ziman Center established the Faculty Research Fellows program. The purpose of this program is to facilitate high-quality, publishable research on topics related to real estate finance and economics, urban and regional economics, urban public policy, and property law and theory. To further this objective, the Ziman Center solicits proposals to fund research from faculty throughout the UCLA campus. Faculty members receiving awards are expected to submit a publication-quality working paper to the Ziman Center Working Paper Series during the academic year 2007-2008. The expectation is that this paper will be later submitted to a journal or other suitable scholarly publication.

2007-2008 Ziman Center Faculty Research Fellows
		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.
		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.
		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.
		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 demographic and economic study of Upstate New York.
		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 Ph.D 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.
		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.
		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.
		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.
		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.