Mortgage Market Design: How to Prevent Future Financial Crises

Co-organized by the HKUST-NYU Stern MS in Global Finance Program and the CFA Society Seoul

About the Seminar

Residential mortgages are of first-order importance for households, financial institutions, and macroeconomic stability. The typical household in a developed economy has one dominant asset — a house or apartment — and one dominant liability — a mortgage. The global financial crisis that began in 2007 has made it abundantly clear that problems in mortgage lending have the potential to destabilizethe financial system and the economy. In this talk Professor Kasper Meisner Nielsen from HKUST talks about mortgage market design and the appealing features of mortgage markets that can help reduce the risk of future financial crises.

Speaker Bio

Professor Kasper Meisner Nielsen is Associate Professor at HKUST, and Academic Director of the HKUST-NYU Stern MS in Global Finance. He received his Bachelor of Science, Master of Science, and Ph.D. degrees in Economics from the University of Copenhagen. Professor Nielsen previously taught at Chinese University of Hong Kong and Copenhagen Business School, and has been a visiting scholar at Stern School of Business at New York University.

Professor Nielsen's research interests are corporate governance, entrepreneurial finance, family business, and household finance. His research has featured in international newspapers and magazines including Business Week, Financial Times, Harvard Business Review, International Herald Tribune, The Economist, The Times of India, and Wall Street Journal. He has studied the consequence of family succession on firm performance, the value of independent directos, the level of executive compensation, why individuals shy away from stocks, and households' decisions to refinance their mortgage. His work has been published in academic journals including The Quarterly Journal of Economics, Journal of Financial Economics, Review of Financial Studies, Management Science, Review of Finance, Journal of Corporate Finance and Journal of Banking and Finance.

His research has been awarded with external financing from competitive research grants on several occasions. On his area of expertise Professor Nielsen has served as an external advisor, consultant, and lecturer to government agencies and companies in China, Denmark and Hong Kong.

Seminar Schedule

11:45 - 12:00     Registration and Lunch
12:00 - 12:05     Introduction
12:05 - 12:40     Presentation
12:40 - 13:00     Q&A