University of California, Berkeley - Haas School of Business

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Faculty and Executive Leadership Directory

 

Nancy Wallace

Nancy E. Wallace

Lisle and Roslyn Payne Chair in Real Estate Capital Markets
Professor and Chair of the Real Estate Group
Co-Chair, Fisher Center for Real Estate and Urban Economics
Haas Real Estate Group
510-642-4732
Email: click on the envelope icon below for full email address
Academic Status: On duty
Office Hours: Tuesdays 2-3:30 p.m. F626
Curriculum Vitae (in PDF format, Acrobat Reader required)

Education

BA, Political Science, The University of Michigan
License, Maitrisse, The University of Paris VIII, Institute of Urbanism
PhD, Urban and Regional Planning, The University of Michigan


Positions Held

At Haas since 1986
2001 - present, Co-Chair, Fisher Center for Real Estate and Urban Economics
2000 - present, Professor of Real Estate, Haas School of Business
1993 - 2000, Associate Professor in Real Estate, Haas School of Business
1986 - 1993, Assistant Professor in Real Estate, Haas School of Business
Spring 1997, Visiting Associate Professor in Finance, Graduate School of Business, Stanford University


External Service and Assignments

  • Board of Directors and past president, American Real Estate and Urban Economics Association
  • Visiting Scholar: San Francisco Federal Reserve Bank, Stanford Graduate School of Business, Stockholm School of Economics
  • Editorial Board: Journal of Computational Finance, Journal of Real Estate Research

Current Research and Interests

  • Housing price indices and models to monitor residential real estate price movements over the business cycle.
  • Mortgage prepayment and pricing models, mortgage contract design, and the market microstructure of mortgage backed security trading.
  • Option pricing models for pricing commercial and retail real estate leases for use in the commercial mortgage backed securities markets.
  • Executive stock option valuation.

Selected Papers and Publications

  • "The Dynamics of Job Creation and Destruction and the Size Distribution of Cities," with Donald Walls. Housing Markets and the Economy: Risk, Regulation, Policy Essays in Honor of Karl Case, edited by Edward Glaeser and John Quigley. Cambridge, MA: Lincoln Land Institute.
  • "Is the Market for Mortgage Backed Securities a Market for Lemons?" with Christopher Downing and Dwight Jaffee. Review of Financial Studies.
  • "An Empirical Test of a Contingent Claims Lease Valuation Model," with Richard Stanton. Journal of Real Estate Research. 
  • "Innovations in Mortgage Modelling: An Introduction." Real Estate Economics 33, no. 3 (2005).
  • "An Empirical Test of a Two-Factor Mortgage Prepayment and Valuation Model: How Much Do House Prices Matter?" with Christopher Downing and Richard Stanton. Real Estate Economics 33, no. 3 (2005).
  • "Dwelling Price Dynamics in Paris, France," with Richard Meese. Urban Studies 40, no. 5/6 (May 2003).
  • "Firm Performance and Executive Compensation in the Savings and Loan Industry," with Benjamin Hermalin. Journal of Financial Economics 61 (2001).

Teaching

  • Real Estate Finance, E283
  • Real Estate Investment Analysis, MBA280
  • Real Estate Strategy, MBA284
  • Real Estate Investment Analysis and Urban Economics, MBA180
  • Asset-backed Securization, MFE230M

Honors and Awards

  • Earl F. Cheit Outstanding Teaching Award, Haas School, 2002, 2005



Faculty Directory: Alphabetical Listing
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