Details about Yongheng Deng

Homepage:	https://wsb.wisc.edu/directory/faculty/yongheng-deng
Workplace:	School of Business, University of Wisconsin-Madison, (more information at EDIRC)

Access statistics for papers by Yongheng Deng.

Last updated 2023-03-10. Update your information in the RePEc Author Service.

Short-id: pde836

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Working Papers

2023

1. Secrets in Asset Purchases: Estimating the Unofficial Incomes of Officials
   NBER Working Papers, National Bureau of Economic Research, Inc

2020

2. Spatial Misallocation in Chinese Housing and Land Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
   Also in 2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (1)

2018

3. Fundamentals and the volatility of real estate prices in China: A sequential modelling strategy
   Post-Print, HAL View citations (9)
   See also Journal Article Fundamentals and the volatility of real estate prices in China: A sequential modelling strategy, China Economic Review, Elsevier (2018) View citations (11) (2018)

2017

4. Did bubbles migrate from the stock to the housing market in China between 2005 and 2010?
   Post-Print, HAL View citations (31)
   See also Journal Article Did bubbles migrate from the stock to the housing market in China between 2005 and 2010?, Pacific Economic Review, Wiley Blackwell (2017) View citations (32) (2017)

2016

5. Analysis of policy options to address Japan's declining population, shrinking birthrate, and aging society
   HIT-REFINED Working Paper Series, Institute of Economic Research, Hitotsubashi University
6. The behaviors of flippers, rental investors and owner-occupiers in Singapore private housing market
   ERES, European Real Estate Society (ERES) View citations (1)

2015

7. Evaluating the Risk of Chinese Housing Markets: What We Know and What We Need to Know
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
   See also Journal Article Evaluating the risk of Chinese housing markets: What we know and what we need to know, China Economic Review, Elsevier (2016) View citations (105) (2016)

2014

8. One Fundamental and Two Taxes: When Does a Tobin Tax Reduce Financial Price Volatility?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
   See also Journal Article One fundamental and two taxes: When does a Tobin tax reduce financial price volatility?, Journal of Financial Economics, Elsevier (2018) View citations (24) (2018)

2013

9. Incentives and Outcomes: China's Environmental Policy
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
10. Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

2012

11. Land and House Price Measurement in China
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (35)

2011

12. Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
    Also in Ratio Working Papers, The Ratio Institute (2011) View citations (57)

2010

13. Evaluating Conditions in Major Chinese Housing Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (34)
    See also Journal Article Evaluating conditions in major Chinese housing markets, Regional Science and Urban Economics, Elsevier (2012) View citations (173) (2012)

2008

14. Index Revision, House Price Risk, and the Market for House Price Derivatives
    Berkeley Program on Housing and Urban Policy, Working Paper Series, Berkeley Program on Housing and Urban Policy View citations (22)
    See also Journal Article Index Revision, House Price Risk, and the Market for House Price Derivatives, The Journal of Real Estate Finance and Economics, Springer (2008) View citations (22) (2008)
15. REITs Return Behavior and Legal Infrastructure: The 1993 Revenue Reconciliation Act & Inspirations for China's Emerging REITS Market
    Working Paper, USC Lusk Center for Real Estate
16. The Relationship between Stock Returns and Past Performance of Hotel Real Estate Industry in the US: Is Hotel Real Estate prone to overinvestment
    Working Paper, USC Lusk Center for Real Estate

2006

17. Commercial Mortgage-backed Securities (CMBS) Terminations, Regional and Property-Type Risk
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics
18. Insurance Premium Structure of Reverse Mortgage Loans in Korea
    Working Paper, USC Lusk Center for Real Estate View citations (5)
19. Shapley Cost Allocation Coincides with Relative Status: The Case of Skyscrapers
    Working Paper, USC Lusk Center for Real Estate
20. Subordinations Levels in Structured Financing
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (1)
    Also in Working Paper, USC Lusk Center for Real Estate (2006)

2005

21. Are Underserved Borrowers Lower Risk? New Evidence on the Performance and Pricing of FHA-Insured Mortgages* (Revised)
    Working Paper, USC Lusk Center for Real Estate
22. Are underserved borrowers lower risk? new evidence on the performance and pricing of FHA-Insured mortgages
    Proceedings, Federal Reserve Bank of Chicago
23. Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination
    Working Paper, USC Lusk Center for Real Estate
    See also Journal Article Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination, The Journal of Real Estate Finance and Economics, Springer (2010) View citations (7) (2010)
24. Unobserved heterogeneity in Models of Competing Mortgage Termination Risks
    Working Paper, USC Lusk Center for Real Estate

2004

25. An Early Assessment of Residential Mortgage Performance in China
    Working Paper, USC Lusk Center for Real Estate View citations (1)
    See also Journal Article An Early Assessment of Residential Mortgage Performance in China, The Journal of Real Estate Finance and Economics, Springer (2005) View citations (20) (2005)
26. An Examination of the Impact of Rent Control on Mobile Home Prices in California
    Working Paper, USC Lusk Center for Real Estate
    See also Journal Article An examination of the impact of rent control on mobile home prices in California, Journal of Housing Economics, Elsevier (2007) (2007)
27. Estimation of NOI Growth, Volatility and Clustering by MSA
    ERES, European Real Estate Society (ERES)
    Also in Working Paper, USC Lusk Center for Real Estate (2003)
28. Spatial Heterogeneity in Mortgage Terminations by Refinance, Sale and Default
    Working Paper, USC Lusk Center for Real Estate
29. Woodhead Behavior and the Pricing of Residential Mortgages
    Berkeley Program on Housing and Urban Policy, Working Paper Series, Berkeley Program on Housing and Urban Policy View citations (12)
    Also in Working Paper, USC Lusk Center for Real Estate (2003) View citations (2)

2003

30. Commercial Mortgage Workout Strategy and Conditional Default Probability: Evidence from Special Serviced CMBS Loans
    Working Paper, USC Lusk Center for Real Estate View citations (6)
    See also Journal Article Commercial Mortgage Workout Strategy and Conditional Default Probability: Evidence from Special Serviced CMBS Loans, The Journal of Real Estate Finance and Economics, Springer (2013) View citations (13) (2013)

2002

31. Duration of Residence in the Rental Housing Market
    Working Paper, USC Lusk Center for Real Estate View citations (2)
    See also Journal Article Duration of Residence in the Rental Housing Market, The Journal of Real Estate Finance and Economics, Springer (2003) View citations (19) (2003)
32. Enhancing Mortgage Credit Availability Among Underserved And Higher Credit-Risk Populations: An Assessment Of Default And Prepayment Option Exercise Among Fha-Insured Borrowers
    Working Paper, USC Lusk Center for Real Estate View citations (7)
33. Racial Differences in Homeownership: The Effect of Residential Location
    Working papers, University of Connecticut, Department of Economics View citations (3)
    See also Journal Article Racial differences in homeownership: the effect of residential location, Regional Science and Urban Economics, Elsevier (2003) View citations (46) (2003)

1999

34. 103 Real Estate Ownership by Non-Real Estate Firms: The Impact on Firm Returns
    Working Paper, USC Lusk Center for Real Estate View citations (7)
35. Employment Access, Residential Location and Homeownership
    Working Paper, USC Lusk Center for Real Estate View citations (1)
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
36. Mortgage Terminations, Heterogeneity, and the Exercise of Mortgage Options
    Berkeley Program on Housing and Urban Policy, Working Paper Series, Berkeley Program on Housing and Urban Policy
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (56)
    See also Journal Article Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options, Econometrica, Econometric Society (2000) View citations (353) (2000)

1998

37. Wood heads and the Exercise of Mortgage Options
    ERES, European Real Estate Society (ERES)

1995

38. Mortgage Default and Low Downpayment Loans: The Costs of Public Subsidy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article Mortgage default and low downpayment loans: The costs of public subsidy, Regional Science and Urban Economics, Elsevier (1996) View citations (65) (1996)

Undated

39. Mortgage Termination: An Empirical Hazard Model with Stochastic Term Structure
    Working Papers, University of California at Berkeley, Econometrics Laboratory Software Archive View citations (3)
    See also Journal Article Mortgage Termination: An Empirical Hazard Model with a Stochastic Term Structure, The Journal of Real Estate Finance and Economics, Springer (1997) View citations (60) (1997)
40. Real Estate Ownership by Non-Real Estate Firms: An Estimate of the Impact on Firm Returns
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (4)

Journal Articles

2022

1. Mortgage Debt, Hand-to-Mouth Households, and Monetary Policy Transmission*
   (Policy intervention in debt renegotiation: evidence from the home affordable modification program)
   Review of Finance, 2022, 26, (3), 487-520 View citations (1)
2. The effectiveness and costs of nonpharmaceutical interventions for COVID-19 containment: A border discontinuous difference-in-difference approach
   China Economic Review, 2022, 75, (C) View citations (3)

2021

3. Green Premium in the Tokyo Office Rent Market
   Sustainability, 2021, 13, (21), 1-17 View citations (1)
4. Melting pot or salad bowl: Cultural distance and housing investments
   Real Estate Economics, 2021, 49, (S1), 235-267 View citations (3)
5. Reinforcement learning and mortgage partial prepayment behavior
   Pacific-Basin Finance Journal, 2021, 68, (C) View citations (1)

2020

6. Time Preferences, Mortgage Choice and Mortgage Default
   International Real Estate Review, 2020, 23, (2), 151-187

2019

7. Environmental regulation as a double-edged sword for housing markets: Evidence from the NOx Budget Trading Program
   Journal of Environmental Economics and Management, 2019, 96, (C), 286-309 View citations (8)
8. Singapore's cooling measures and its housing market
   Journal of Housing Economics, 2019, 45, (C), - View citations (3)

2018

9. Fundamentals and the volatility of real estate prices in China: A sequential modelling strategy
   China Economic Review, 2018, 48, (C), 205-222 View citations (11)
   See also Working Paper Fundamentals and the volatility of real estate prices in China: A sequential modelling strategy, Post-Print (2018) View citations (9) (2018)
10. Housing price spillovers in China: A high-dimensional generalized VAR approach
    Regional Science and Urban Economics, 2018, 68, (C), 98-114 View citations (24)
11. One fundamental and two taxes: When does a Tobin tax reduce financial price volatility?
    Journal of Financial Economics, 2018, 130, (3), 663-692 View citations (24)
    See also Working Paper One Fundamental and Two Taxes: When Does a Tobin Tax Reduce Financial Price Volatility?, NBER Working Papers (2014) View citations (9) (2014)

2017

12. Did bubbles migrate from the stock to the housing market in China between 2005 and 2010?
    Pacific Economic Review, 2017, 22, (3), 276-292 View citations (32)
    See also Working Paper Did bubbles migrate from the stock to the housing market in China between 2005 and 2010?, Post-Print (2017) View citations (31) (2017)
13. Information Asymmetry and Organizational Structure: Evidence from REITs
    The Journal of Real Estate Finance and Economics, 2017, 55, (1), 32-64 View citations (4)

2016

14. Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation
    Real Estate Economics, 2016, 44, (2), 378-410 View citations (10)
15. Evaluating the risk of Chinese housing markets: What we know and what we need to know
    China Economic Review, 2016, 39, (C), 91-114 View citations (105)
    See also Working Paper Evaluating the Risk of Chinese Housing Markets: What We Know and What We Need to Know, NBER Working Papers (2015) View citations (19) (2015)
16. Fear of nuclear power? Evidence from Fukushima nuclear accident and land markets in China
    Regional Science and Urban Economics, 2016, 60, (C), 139-154 View citations (21)
17. The Hidden Peril: The Role of the Condo Loan Market in the Recent Financial Crisis
    Review of Finance, 2016, 20, (2), 467-500 View citations (2)

2015

18. China’s Pseudo-monetary Policy
    Review of Finance, 2015, 19, (1), 55-93 View citations (20)
19. Intercity Information Diffusion and Price Discovery in Housing Markets: Evidence from Google Searches
    The Journal of Real Estate Finance and Economics, 2015, 50, (3), 289-306 View citations (18)
20. Real estate collateral value and investment: The case of China
    Journal of Urban Economics, 2015, 86, (C), 43-53 View citations (56)
21. What is Subordination About? Credit Risk and Subordination Levels in Commercial Mortgage-backed Securities (CMBS)
    The Journal of Real Estate Finance and Economics, 2015, 51, (2), 231-253 View citations (7)

2014

22. Breakeven Determination of Loan Limits for Reverse Mortgages under Information Asymmetry
    The Journal of Real Estate Finance and Economics, 2014, 48, (3), 492-521 View citations (8)
23. Economic returns to residential green building investment: The developers' perspective
    Regional Science and Urban Economics, 2014, 47, (C), 35-44 View citations (30)
24. House Price Index Construction in the Nascent Housing Market: The Case of China
    The Journal of Real Estate Finance and Economics, 2014, 48, (3), 522-545 View citations (73)
25. Matching indices for thinly-traded commercial real estate in Singapore
    Regional Science and Urban Economics, 2014, 47, (C), 86-98 View citations (9)

2013

26. Commercial Mortgage Workout Strategy and Conditional Default Probability: Evidence from Special Serviced CMBS Loans
    The Journal of Real Estate Finance and Economics, 2013, 46, (4), 609-632 View citations (13)
    See also Working Paper Commercial Mortgage Workout Strategy and Conditional Default Probability: Evidence from Special Serviced CMBS Loans, Working Paper (2003) View citations (6) (2003)
27. Local Traits and Securitized Commercial Mortgage Default
    The Journal of Real Estate Finance and Economics, 2013, 47, (4), 787-813 View citations (5)

2012

28. Economic returns to energy-efficient investments in the housing market: Evidence from Singapore
    Regional Science and Urban Economics, 2012, 42, (3), 506-515 View citations (78)
29. Evaluating conditions in major Chinese housing markets
    Regional Science and Urban Economics, 2012, 42, (3), 531-543 View citations (173)
    See also Working Paper Evaluating Conditions in Major Chinese Housing Markets, NBER Working Papers (2010) View citations (34) (2010)
30. Model Stability and the Subprime Mortgage Crisis
    The Journal of Real Estate Finance and Economics, 2012, 45, (3), 545-568 View citations (10)
31. Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market
    Real Estate Economics, 2012, 40, S234-S272 View citations (13)
32. Private residential price indices in Singapore: A matching approach
    Regional Science and Urban Economics, 2012, 42, (3), 485-494 View citations (43)
33. The nascent market for “green” real estate in Beijing
    European Economic Review, 2012, 56, (5), 974-984 View citations (42)

2011

34. Asymmetric information, adverse selection, and the pricing of CMBS
    Journal of Financial Economics, 2011, 100, (2), 304-325 View citations (44)
35. CDO market implosion and the pricing of subprime mortgage-backed securities
    Journal of Housing Economics, 2011, 20, (2), 68-80 View citations (5)

2010

36. Editorial
    The Journal of Real Estate Finance and Economics, 2010, 40, (4), 385-386
37. Is the Mean Return of Hotel Real Estate Stocks Apt to Overreact to Past Performance?
    The Journal of Real Estate Finance and Economics, 2010, 40, (4), 497-543 View citations (4)
38. Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination
    The Journal of Real Estate Finance and Economics, 2010, 41, (3), 245-271 View citations (7)
    See also Working Paper Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination, Working Paper (2005) (2005)

2009

39. Editorial for Special Issue
    The Journal of Real Estate Finance and Economics, 2009, 38, (3), 193-193
40. Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China’s Housing Market
    The Journal of Real Estate Finance and Economics, 2009, 38, (3), 214-240 View citations (15)
41. Property appraisal in high-rises: A cooperative game theory approach
    Journal of Housing Economics, 2009, 18, (1), 25-33 View citations (2)
42. Value Creation through Securitization: Evidence from the CMBS Market
    The Journal of Real Estate Finance and Economics, 2009, 38, (3), 302-326 View citations (13)

2008

43. Index Revision, House Price Risk, and the Market for House Price Derivatives
    The Journal of Real Estate Finance and Economics, 2008, 37, (3), 191-209 View citations (22)
    See also Working Paper Index Revision, House Price Risk, and the Market for House Price Derivatives, Berkeley Program on Housing and Urban Policy, Working Paper Series (2008) View citations (22) (2008)

2007

44. An examination of the impact of rent control on mobile home prices in California
    Journal of Housing Economics, 2007, 16, (2), 209-242
    See also Working Paper An Examination of the Impact of Rent Control on Mobile Home Prices in California, Working Paper (2004) (2004)

2006

45. Risk-Based Pricing and the Enhancement of Mortgage Credit Availability among Underserved and Higher Credit-Risk Populations
    Journal of Money, Credit and Banking, 2006, 38, (6), 1431-1460 View citations (43)

2005

46. An Early Assessment of Residential Mortgage Performance in China
    The Journal of Real Estate Finance and Economics, 2005, 31, (2), 117-136 View citations (20)
    See also Working Paper An Early Assessment of Residential Mortgage Performance in China, Working Paper (2004) View citations (1) (2004)

2003

47. A Proportional Hazards Model of Commercial Mortgage Default with Originator Bias
    The Journal of Real Estate Finance and Economics, 2003, 27, (1), 5-23 View citations (33)
48. Duration of Residence in the Rental Housing Market
    The Journal of Real Estate Finance and Economics, 2003, 26, (2-3), 267-85 View citations (19)
    See also Working Paper Duration of Residence in the Rental Housing Market, Working Paper (2002) View citations (2) (2002)
49. Racial differences in homeownership: the effect of residential location
    Regional Science and Urban Economics, 2003, 33, (5), 517-556 View citations (46)
    See also Working Paper Racial Differences in Homeownership: The Effect of Residential Location, Working papers (2002) View citations (3) (2002)

2002

50. A Dynamic Analysis of Fixed- and Adjustable-Rate Mortgage Terminations
    The Journal of Real Estate Finance and Economics, 2002, 24, (1-2), 9-33 View citations (42)
51. The Termination of Commercial Mortgage Contracts through Prepayment and Default: A Proportional Hazard Approach with Competing Risks
    Real Estate Economics, 2002, 30, (4), 595-633 View citations (36)

2001

52. Optimal Put Exercise: An Empirical Examination of Conditions for Mortgage Foreclosure
    The Journal of Real Estate Finance and Economics, 2001, 23, (2), 213-34 View citations (30)

2000

53. Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options
    Econometrica, 2000, 68, (2), 275-308 View citations (353)
    See also Working Paper Mortgage Terminations, Heterogeneity, and the Exercise of Mortgage Options, Berkeley Program on Housing and Urban Policy, Working Paper Series (1999) (1999)

1997

54. Mortgage Termination: An Empirical Hazard Model with a Stochastic Term Structure
    The Journal of Real Estate Finance and Economics, 1997, 14, (3), 309-31 View citations (60)
    See also Working Paper Mortgage Termination: An Empirical Hazard Model with Stochastic Term Structure, Working Papers View citations (3)

1996

55. Mortgage default and low downpayment loans: The costs of public subsidy
    Regional Science and Urban Economics, 1996, 26, (3-4), 263-285 View citations (65)
    See also Working Paper Mortgage Default and Low Downpayment Loans: The Costs of Public Subsidy, NBER Working Papers (1995) View citations (1) (1995)

Chapters

2017

1. Comments on "Household credit, growth and inequality in Malaysia: does the type of credit matter?"
   A chapter in Financial systems and the real economy, 2017, vol. 91, pp 61-64

2012

2. Discussant remarks on Chihiro Shimizu, Kiyohiko G Nishimura and Tsutomu Watanabe’s paper House prices from magazines, realtors,and the Land Registry
   A chapter in Property markets and financial stability, 2012, vol. 64, pp 39-41
3. Land and Housing Price Measurement in China
   A chapter in Property Markets and Financial Stability, 2012 View citations (7)