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Finance professor to lead global conference on housing crisis

Tuesday, November 12, 2013

LAWRENCE — As the global economy moves past the Great Recession, scholars and policymakers are taking time to reflect on the housing crisis in hopes of avoiding another meltdown.

Bob DeYoungThis week, Bob DeYoung, University of Kansas finance professor, will travel to the Federal Reserve Bank of Dallas to host a global conference on that topic.

The Nov. 14-15 event, "Housing, Stability and the Macroeconomy: International Perspectives," brings together thought leaders in housing markets, housing finance and the macroeconomy, DeYoung said, including professors from Oxford University, the Wharton School at University of Pennsylvania, University of California, Berkeley, and University of Chicago, among others.

 “The conference hopes to address how to avoid another housing bubble without choking off economic growth,” DeYoung said.

The conference also will examine how the crash in housing prices resulted in a recession, why the economies of some countries suffered more than others, and how home mortgage finance and bank regulation could be changed.

Keynote speakers include David Miles, a member of the Bank of England’s Monetary Policy Committee, which sets base level interest rates in the United Kingdom’s financial markets, and Robert Shiller, a Yale University economist who received a 2013 Nobel Prize in economics, known for his early identification of the U.S. housing bubble. Shiller invented the widely used Case-Shiller home price index for U.S. real estate markets.

DeYoung, the Capitol Federal Distinguished Professor in Financial Markets and Institutions, was approached to lead the conference by the Federal Reserve Bank of Dallas and International Monetary Fund, co-sponsors of the event. The Journal of Money, Credit and Banking, which DeYoung co-edits, will publish the conference proceedings.

Since 2011, he has served as director of the Center for Banking Excellence, housed in the School of Business.

For the full conference agenda, visit the Federal Reserve Bank of Dallas online.

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