|
IRES Researchers, Assoc Prof Sumit Agarwal & Asst Prof Qian Wen Lan, Win NBER Household Finance Grant Award
The NBER Household Finance working group has selected the research proposal by IRES Researchers, Assoc Prof Sumit Agarwal and Asst Prof Qian Wenlan, to receive one of the research grants supported by the Sloan Foundation. They found it to be interesting and promising.
The proposal focuses on understanding household financial behavior using a unique and representative dataset of financial transactions in Singapore between 2008 and 2012 to investigate how households' spending and saving decisions respond to different shocks and incentives. The three projects included within the research proposal are:
1. Consumption and Debt Response to Fiscal Policy Shocks
2. Cross Border Shopping and Sales Taxes
3. Consumer Sentiment and Spending - Case of State Lotteries
|
|
|
IRES Research on "Land and House Price Measurement in China" Selected for Publication in US' National Bureau of Economic Research (NBER) Digest Feb 2013 Issue
IRES Director, Prof Deng Yongheng's joint research with Wharton's Prof Joseph Gyourko and Tsinghua's Prof Wu Jing on "Land and House Price Measurement in China" has been selected for publication in the NBER Digest Feb 2013 issue. The NBER Digest is a monthly publication that summarizes a very small number of recent and newsworthy NBER Working Papers.
Each month, the NBER publishes hundreds of NBER working papers by researchers from leading universities. Only 4-8 highly influential articles from these NBER working papers are selected to be summarized for publication in the NBER Digest. Professional journalists write these summaries for a non-technical audience. The Bureau sends nearly 12,000 copies of the NBER Digest each month to readers in government, business, universities, and the media.
|
|
|
IRES Director, Prof Deng Yongheng, Elected 1st Vice President of the American Real Estate and Urban Economics Association (AREUEA) in Jan 2013
Prof Deng Yongheng, Provost's Chair Professor and Director of NUS Institute of Real Estate Studies (IRES), has been elected 1st Vice President of the American Real Estate and Urban Economics Association (AREUEA) in Jan 2013.
AREUEA is the world's leading academic association in the field of real estate finance and urban economics. Typically, the 1st VP of the AREUEA will become the President of the Association the following year.
With this latest appointment, Prof Deng is the first Asian to hold the position in the 49 years of AREUEA history. This election reflects the growing awareness and emerging trend of Asia as a new global economic centre, and also recognizes NUS' leading role in real estate education, finance and urban economics research.
|
|
|
IRES Affiliated Researcher, Prof Liow Kim Hiang, Awarded the EMERALD Gerald Brown Memorial Prize
Prof Liow Kim Hiang was awarded the EMERALD Gerald Brown Memorial Prize for the Best Paper on Real Estate Markets and Forecasting - "Volatility Interdependence in European Real Estate Securities Markets: Who is the Most Influential?" His paper investigates the interdependence of daily conditional volatility in seven FTSE-NAREIT-EPRA European developed real estate securities markets - the United Kingdom, France, Germany, Netherlands, Italy, Sweden and Switzerland, from January 1990 to December 2011. Since international investors incorporate into their portfolio selections not only the return correlation structure but also the market volatility interaction, the results of this study can shed light on the extent to which investors can benefit from international real estate securities diversification in the European developed countries. The paper will be published in a future issue of The Journal of European Real Estate Research (JERER).
|
|
|
As investors worldwide try to assess the depth and duration of China's economic slowdown, more than 200 real estate industry leaders focused on the prospects for ongoing investment in emerging markets at a forum sponsored by ULI and the National University of Singapore's Institute of Real Estate Studies.
|
|
|
IRES Research Ranks No.1 & 2 Most Downloaded in ScienceDirect
IRES research, published in the prestigious Regional Science and Urban Economics Journal, topped the most downloaded list from SciVerse ScienceDirect in the last 90 days. ScienceDirect is a leading full-text scientific database offering journal articles and book chapters from more than 2,500 peer-reviewed journals and more than 11,000 books. The top 2 most downloaded articles by IRES researchers and co-authors from the Wharton School and UCLA were:
1. Evaluating conditions in major Chinese housing markets, May 2012
Authors: Jing Wu | Joseph Gyourko | Yongheng Deng
Abstract: High and rising prices in Chinese housing markets have attracted global attention. Using data from the local land auction market in Beijing, IRES researchers produced a constant quality land price index for that city. Real, constant quality land values have increased by nearly 800% since the first quarter of 2003, with half that rise occurring over the past two years. State-owned enterprises controlled by the central government have played an important role in this increase.
2. Labor migration, human capital agglomeration and regional development in China, May 2012
Authors: Yuming Fu | Stuart A. Gabriel
Abstract: IRES research estimates a skill-based directional migration model to assess the effects of regional human capital agglomeration on labor migration in China. The research findings suggest the importance of human capital agglomeration benefits to disparate regional growth trajectories in China.
|
|
|
IRES Director, Prof Deng Yongheng, Speaks at the World Economic Forum (WEF) 2012
IRES Director, Prof Deng Yongheng was invited to speak at the World Economic Forum (WEF) at Davos during Jan 24-29, 2012 and for his work as Chairperson of the WEF Global Agenda Council (GAC) on Real Estate 2011/12.
He spoke on the panel debating China's Economic Outlook, where the penal spent more than 45 minutes on housing and real estate related issues, and its implications on macro stability. This panel was moderated by John Micklethwait, Editor-in-Chief of the Economist, UK and other panelists included Hu Shuli, Editor-in-Chief of Caixin Media, China; Li Daokui, Member of the China's Central Bank Monetary Policy Committee; Stephen Roach, Senior Research Fellow from Yale University, former Chairman of Morgan Stanley Asia; and Zhang Weiying, former Dean of Guanghua School of Management at Peking University.
At the WEF GAC Governors' meeting, Prof Deng posed as challenger to debate with Markus Brunnermeier, Edwards S. Sanford Professor of Economics from Princeton University and Nouriel Roubini, Professor of Economics and International Business from Stern School of Business, New York University, on issues of Reinvigorating Capital Markets for Infrastructure and Real Estate. Participants of that meeting include Michael Froman, Deputy Assistant to the US President; Bob Corker, US Senator from Tennessee; Motohisa Furukawa, Minister for National Policy, Economic and Fiscal policy, Science and Technology Policy of Japan; Erdem Basci, Governor of the Central Bank of Turkey; among other public figures and academic scholars.
Prof Deng was also a participant at the GAC meeting on Transformational Models for Infrastructure and Urban Development; BAC Boardroom Brainstorming discussion and other sessions as well, taking the opportunity to network and raise the international profile of NUS and IRES.
|
|
|
|
Professor Deng Yongheng, Director of NUS Institute of Real Estate Studies (IRES), has been elected 2nd Vice President of the American Real Estate and Urban Economics Association (AREUEA). AREUEA is the world's leading academic association in the field of real estate finance and urban economics. The announcement was made at the Allied Social Science Association (ASSA) Annual conference in Chicago during January 5-8, 2012. AREUEA is a member of ASSA.
With this appointment, Professor Deng becomes the first person outside of Northern America to hold the position in the 48 years of AREUEA history. This election reflects the growing awareness and emerging trend of Asia as a new global economic center as well as a recognition of NUS's leading role in the real estate education, finance and urban economics research.
|
|
|
In a rare public speaking appearance in the UK, Dr Seek Ngee Huat, who recently retired as President of GIC Real Estate, gave the above-mentioned lecture on 20 September 2011. He captured the attention of a packed audience on his reflections of over 30 years of investing in real estate around the world and commented on what might be some of the themes for the future.
|
|
|
FSinsight is a global platform where top scholars, policy makers and members of the business community can share knowledge of and experience with finance and sustainability. Recent FSinsight issue reports "substantial economic returns" on Singapore's green housing, according to a research by Deng, Li and Quigley.
|
|
|
IRES PhD Candidate Li Zhiliang Selected to Attend UNPRI Young Scholars Finance Academy in Switzerland
IRES PhD candidate Li Zhiliang is one of the 15 admitted PhD students and Post-docs this year from 10 countries, and among the rare few who received full travel grant for the fourth annual international Young Scholars Finance Academy on February 5-10, 2012 in Gais, Switzerland, convened by The United Nations-Backed Principles for Responsible Investment (PRI) and Oikos foundation.
The Academy provides a platform to develop emerging researchers. Exceptional graduate students and young faculty are at the center of the programme and they will have exposure to leading academics and practitioners who provide feedback on their work and share advice about careers in the field of responsible investment. The event includes paper development workshops, professional development roundtables, guest speeches and outdoor activities in the picturesque Swiss Alps.
|
|
|
|
PhD Candidate Li Zhiliang's research among 6 winning proposals for The Initiative for Responsible Investment (IRI) conference at Harvard Kennedy School
PhD candidate Li Zhiliang's research paper has been selected among 6 winning proposals by The Initiative for Responsible Investment (IRI) program at the Kennedy School, Harvard University to be presented at the conference - "the Societal Function of Investment Asset Classes: Implications for Responsible Investment" on 4 Oct, 2012. This conference will break new ground in the investment and economics fields by focusing attention on the relationship between the societal functions of asset classes and the theory and practice of responsible investment. Former president of the American Finance Association, Harvard Professor of Economics Jeremy Stein will be the keynote speaker at this conference.
|
|
|
Professor Deng Yongheng, Director of IRES, participates at the World Economic Forum's Summit in Abu Dhabi
Professor Deng chaired the recent Global Agenda Council at the World Economic Forum (WFE)'s Annual Summit in Abu Dhabi (United Arab Emirates) on 9-11 October 2011. He led the Council's discussions on new models for future real estate development focusing on the linkages between the real estate sector, financial markets and global macro-economic stability. New models on proactive risk management in response to real estate cycles were explored as well as new sustainable real estate development models in response to resource scarcity, shifting socioeconomic and demographic trends.
In September, Professor Deng also participated in the WEF's "Summer Davos" in Asia - Annual Meeting of the New Champions 2011 in Dalian, China. The theme of this year's Summer Davos meeting was "Mastering Quality Growth", where Professor Deng chaired two sessions on "Insights from Emerging Markets: Urban Development" and "New Urban Development Business Models for Greater Economic Impact."
|
|
|
The National University of Singapore (NUS) joined UC Berkeley, UCLA, Columbia, Cornell, UT-Austin, Wharton and Wisconsin to host the Pre-WFA Summer Real Estate Symposium 18-19 June 2011 in Santa Fe, New Mexico. The WFA (Western Finance Association Annual Conference) is a major international finance conference.
|
|
|
Assistant Professor Zsuzsa Huszár (Dept of Finance) has won the 2010 Fama-DFA prize for her paper, "The Good News In Short Interest", which examined if the absence of short selling in actively traded stocks is indicative about future returns. This paper was published in the Journal of Financial Economics (JFE) in April 2010.
|
|
|
The theme for this year symposium is "Information, Institution and Governance in Real Estate Markets" which is an inclusive one that gives the opportunity for top notched scholars and thought leaders to cross-fertilize ideas on cutting-edge research and debate current issues and challenges faced in the finance and economics fields.
|
|
|
At this recent event on 3rd April 2011 in Hangzhou, China, Prof Deng Yongheng, Dr. Wu Jing and Dr. Liu Xueliang from the NUS IRES was awarded the first prize for Best Paper for their research on "population impact, marriage and housing market"
Assoc Professor Sing Tien Foo (IRES affiliated researcher) and Dr Lee Nai Jia from the NUS Department of Real Estate won the second prize for Best Paper - 2nd Prize for their research paper, "Inter and Intra generation consumption of housing good: Did my parents own a larger house?"
|
|
|
The NUS Institute of Real Estate Studies (IRES) organised an industry forum on 16 September 2010 which provided an excellent platform for eminent scholars, international experts and industry leaders to come together and consider issues surrounding the question "In 2011, Will Asian Property Markets Crash Economic Recovery?"
|
|
|
An IRES industry event comprising real estate business leaders and members of the financial community with Senior Minister-of-State for National Development and Education, Ms Grace Fu as the Guest-of-Honour and Mr. Simon Cheong, President REDAS as the Keynote Speaker.
|
|
|
