Brief biographies of the expert group members

Stijn Van Nieuwerburgh
Stijn Van Nieuwerburgh is a Professor of Finance and the Yamaichi Faculty Fellow at New York University Leonard N. Stern School of Business, which he joined in 2003. He is the Director of the Center for Real Estate Finance Research

Professor Van Nieuwerburgh's research lies in the intersection of macroeconomics, asset pricing, and housing. One strand of his work studies how financial market liberalization in the mortgage market relaxed households' down payment constraints, and how that affected the macro-economy, and the prices of stocks and bonds. In this area, he has also worked on regional housing prices and on household's mortgage choice.

Professor Van Nieuwerburgh has published articles in the Journal of Finance, Review of Economic Studies, Journal of Financial Economics, Review of Economic Studies, and the Journal of Monetary Economics, among other journals. He is an Associate Editor at the Journal of Finance, the Review of Economic Studies, and the Journal of Economic Theory. He is a Faculty Research Associate at the National Bureau of Economic Research and at the Center for European Policy Research.

Richard Stanton
Richard Stanton is a Professor of Finance and Real Estate and holds the Kingsford Capital Management Chair in Business at the Haas School of Business, University of California, Berkeley, where he is co-chair of the Fisher Center for Real Estate and Urban Economics. His research interests include term-structure modeling, closed-end funds, mortgages and mortgage-backed securities, house-price dynamics, energy efficiency and real estate, and employee stock options. He has been an Associate Editor of most of the top academic finance journals and has advised Wall Street firms and the U.S. Treasury on fixed income, mortgage-backed securities and option valuation.

Leo de Bever
Leo de Bever started his career at the Bank of Canada, and has so far worked with eight public and private organizations in four countries.  

Over the last two decades the search for superior pension and endowment returns at Ontario Teachers’ Pension Plan, and most recently as CEO of Alberta Investment Management Corporation led him to become an early investor in infrastructure, timberland and commodities.

He is now working with long-term investors to combine the profitable and the desirable and use their cash and patience to capitalize on growing opportunities in commercializing new technologies.

Leo was born in the Netherlands. He received a B.A. in economics from the University of Oregon, and a PhD from the University of Wisconsin.