Benjamin J. Keys
Assistant Professor, Harris School of Public Policy, University of Chicago
Co-Director, Kreisman Initiative on Housing Law and Policy, University of Chicago
Faculty Research Fellow, National Bureau of Economic Research
Contact Information
The Harris School
University of Chicago
1155 E. 60th Street
Chicago, IL 60637
Phone: (773) 834-2784
Fax: (773) 702-0926

Peer-Reviewed Publications

"Regional Redistribution Through the U.S. Mortgage Market" (link)
(with Erik Hurst, Amit Seru, and Joseph Vavra), American Economic Review, forthcoming.

"Failure to Refinance" (link)
(with Devin G. Pope and Jaren C. Pope), Journal of Financial Economics, forthcoming.

"Interest Rates and Equity Extraction During the Housing Boom" (link)
(with Neil Bhutta), American Economic Review, forthcoming.

"Human Capital and the Lifetime Costs of Impatience" (link)
(with Brian C. Cadena), American Economic Journal: Economic Policy, 7(3), August 2015.

"Can Self-Control Explain Avoiding Free Money? Evidence from Interest-Free Student Loans" (pdf)
(with Brian C. Cadena), Review of Economics and Statistics, 95(4), October 2013.

"Lender Screening and the Role of Securitization: Evidence from Prime and Subprime Mortgage Markets" (pdf)
(with Amit Seru and Vikrant Vig), Review of Financial Studies, 25(7), July 2012.

"Did Securitization Lead to Lax Screening? Evidence from Subprime Loans" (link)
(with Tanmoy Mukherjee, Amit Seru, and Vikrant Vig), Quarterly Journal of Economics, 125(1), February 2010.
For responses to a critique of this paper, see 620 FICO, Take II.

Financial Regulation and Securitization: Evidence from Subprime Mortgage Loans" (link)
(with Tanmoy Mukherjee, Amit Seru, and Vikrant Vig), Journal of Monetary Economics, 56(5), July 2009.

"Has Exposure to Poor Neighborhoods Changed in America? Race, Risk, and Housing Locations in Two Decades" (link)
(with Xavier de Souza Briggs), Urban Studies, 46(2), February 2009.

"Does Merit Pay Reward Teachers? Evidence from a Randomized Experiment" (link)
(with Thomas S. Dee), Journal of Policy Analysis and Management, 23(3), Summer 2004.

Current Working Papers

"Mortgage Rates, Household Balance Sheets, and the Real Economy" (link)
(with Tomasz Piskorski, Amit Seru, and Vincent W. Yao), NBER Working Paper No. 20561, October 2014, revision requested at Journal of Political Economy.

"The Credit Market Consequences of Job Displacement" (pdf)
June 2015, revision requested at Review of Economics and Statistics.

"Information, Contract Design, and Unsecured Credit Supply: Evidence from Credit Card Mailings" (pdf)
(with Song Han and Geng Li), November 2015, revision requested at Review of Financial Studies.

"Investment Over the Business Cycle: Insights from College Major Choice" (pdf)
(with Erica Blom and Brian C. Cadena), IZA Discussion Paper No. 9167, July 2015.

"Minimum Payments and Debt Paydown in Consumer Credit Cards" (pdf)
(with Jialan Wang), September 2015.

Work in Progress

"Affordability, Financial Innovation, and The Start of the Housing Boom"
(with Jane K. Dokko and Lindsay E. Relihan), coming soon.

"The Evolution of Credit Card Contracts: Risk-Based or Bias-Based?"
(with Jialan Wang).

"The Behavioral Effect of Student Loan Debt: Evidence from the Teacher Loan Forgiveness Program"
(with Brian Jacob and Damon Jones).