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Kristopher Gerardi

Federal Reserve Bank of Atlanta

Research Economist

1000 Peachtree Street N.E.

Atlanta, GA 30309-4470

United States

http://sites.google.com/site/kristophergerardishomepage/

  • Federal Reserve Bank of Atlanta

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    • Tel: 404-498-8561
SCHOLARLY PAPERS

29

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6,892

CITATIONS
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324

Scholarly Papers (29)

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1.

Subprime Facts: What (We Think) We Know about the Subprime Crisis and What We Don't

FRB of Boston Public Policy Discussion Paper No. 08-2
Number of pages: 57 Posted: 30 Jun 2008
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 1,412 (9,219)
Citation 17

Abstract:

2.

Subprime Outcomes: Risky Mortgages, Homeownership Experiences, and Foreclosures

FRB of Boston Working Paper No. 07-15
Number of pages: 58 Posted: 16 Dec 2007
Kristopher Gerardi, Adam Hale Shapiro and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco and Federal Reserve Bank of Boston - Research Department
Downloads 940 (15,677)
Citation 66

Abstract:

3.

Making Sense of the Subprime Crisis

Downloads 638 ( 32,153)
Citation 44

Making Sense of the Subprime Crisis

Brookings Papers on Economic Activity, Forthcoming, Federal Reserve Bank of Atlanta Working Paper No. 2009-2
Number of pages: 75 Posted: 22 Feb 2009
Kristopher Gerardi, Andreas Lehnert, Paul Willen and Shane Sherland
Federal Reserve Bank of Atlanta, Board of Governors of the Federal Reserve, Federal Reserve Bank of Boston - Research Department and Board of Governors of the Federal Reserve System
Downloads 521 (41,427)
Citation 44

Abstract:

subprime, foreclosure, house prices, underwriting standards

Making Sense of the Subprime Crisis

FRB of Boston Public Policy Discussion Paper No. 09-1
Number of pages: 74 Posted: 13 Feb 2009
Kristopher Gerardi, Andreas Lehnert, Shane Sherland and Paul Willen
Federal Reserve Bank of Atlanta, Board of Governors of the Federal Reserve, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston - Research Department
Downloads 117 (196,161)
Citation 44

Abstract:

4.

Financial Literacy and Subprime Mortgage Delinquency: Evidence from a Survey Matched to Administrative Data

Federal Reserve Bank of Atlanta Working Paper Series No. 2010-10
Number of pages: 54 Posted: 06 May 2010
Kristopher Gerardi, Lorenz Goette and Stephan Meier
Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston
Downloads 532 (24,420)
Citation 23

Abstract:

subprime mortgage, delinquency, default, financial literacy, cognitive ability, survey

5.

The Effects of Competition on Price Dispersion in the Airline Industry: A Panel Analysis

FRB of Boston Working Paper No. 07-7
Number of pages: 47 Posted: 11 Sep 2007
Kristopher Gerardi and Adam Hale Shapiro
Federal Reserve Bank of Atlanta and Federal Reserve Bank of San Francisco
Downloads 428 (49,244)
Citation 3

Abstract:

6.

Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market

Downloads 397 ( 58,831)
Citation 14

Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market

Federal Reserve Bank of Boston Research Paper Series Public Policy Discussion Paper No. 06-6, Hudson Institute Research Paper No. 06-07
Number of pages: 59 Posted: 03 Oct 2006 Last Revised: 06 Aug 2008
Kristopher Gerardi, Harvey S. Rosen and Paul Willen
Federal Reserve Bank of Atlanta, Princeton University - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 301 (80,436)
Citation 14

Abstract:

Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market

NBER Working Paper No. w12967
Number of pages: 61 Posted: 15 Mar 2007
Kristopher Gerardi, Harvey S. Rosen and Paul Willen
Federal Reserve Bank of Atlanta, Princeton University - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 96 (226,333)
Citation 14

Abstract:

7.

Subprime Mortgages, Foreclosures, and Urban Neighborhoods

Downloads 258 ( 96,001)
Citation 8

Subprime Mortgages, Foreclosures, and Urban Neighborhoods

FRB of Boston Public Policy Discussion Paper No. 08-6
Number of pages: 38 Posted: 08 Jan 2009
Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 209 (118,485)
Citation 8

Abstract:

Subprime Mortgages, Foreclosures, and Urban Neighborhoods

Berkeley Electronic Journal of Economic Analysis & Policy, Vol. 9, No. 3, 2009 , Federal Reserve Bank of Atlanta Working Paper Series No. 2009-1
Number of pages: 39 Posted: 27 Aug 2009
Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 49 (330,826)
Citation 8

Abstract:

subprime, foreclosure, minority, homeownership

8.

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures, and Securitization

Downloads 206 (120,557)
Citation 32

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures, and Securitization

FRB of Boston Public Policy Discussion Paper No. 09-4, Federal Reserve Bank of Atlanta Working Paper 2009-17
Number of pages: 41 Posted: 17 Jul 2009 Last Revised: 30 May 2015
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 182 (135,242)
Citation 30

Abstract:

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization

NBER Working Paper No. w15159
Number of pages: 42 Posted: 21 Jul 2009
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 24 (430,692)
Citation 32

Abstract:

9.

Reasonable People did Disagree: Optimism and Pessimism About the U.S. Housing Market Before the Crash

FRB of Boston Public Policy Discussion Paper No. 10-5
Number of pages: 32 Posted: 16 Oct 2010
Kristopher Gerardi, Christopher L. Foote and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 178 (102,669)
Citation 3

Abstract:

10.

Negative Equity and Foreclosure: Theory and Evidence

FRB of Boston Public Policy Discussion Paper No. 08-3
Number of pages: 36 Posted: 30 Jun 2008
Christopher L. Foote, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 174 (133,259)
Citation 65

Abstract:

11.

Reducing Foreclosures

FRB of Boston Public Policy Discussion Paper No. 09-2
Number of pages: 52 Posted: 21 May 2009
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 149 (152,498)
Citation 9

Abstract:

12.

The Failure of Supervisory Stress Testing: Fannie Mae, Freddie Mac, and OFHEO

Downloads 146 (164,067)

The Failure of Supervisory Stress Testing: Fannie Mae, Freddie Mac, and OFHEO

FRB Atlanta Working Paper No. 2015-3
Number of pages: 57 Posted: 13 Apr 2015
W. Scott Frame, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 107 (209,621)

Abstract:

Bank supervision, stress test, model risk, residential mortgages, government-sponsored enterprises

The Failure of Supervisory Stress Testing: Fannie Mae, Freddie Mac, and OFHEO

FRB of Boston Working Paper No. 15-4
Number of pages: 55 Posted: 19 Oct 2015
W. Scott Frame, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 39 (364,089)

Abstract:

bank supervision, stress test, model risk, residential mortgages, government-sponsored enterprises

13.

The Effect of Large Investors on Asset Quality: Evidence from Subprime Mortgage Securities

Downloads 129 (181,253)

The Effect of Large Investors on Asset Quality: Evidence from Subprime Mortgage Securities

Number of pages: 56 Posted: 27 Jul 2014 Last Revised: 27 Sep 2016
Manuel Adelino, W. Scott Frame and Kristopher Gerardi
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 93 (231,279)

Abstract:

mortgage default, GSEs, securitization, private information

The Effect of Large Investors on Asset Quality: Evidence from Subprime Mortgage Securities

FRB Atlanta Working Paper No. 2014-4
Number of pages: 58 Posted: 04 Apr 2015
Manuel Adelino, W. Scott Frame and Kristopher Gerardi
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 36 (375,298)

Abstract:

mortgage default, GSEs, securitization, private information

14.

Identifying the Effect of Securitization on Foreclosure and Modification Rates Using Early-Payment Defaults

Downloads 111 (203,057)
Citation 3

Identifying the Effect of Securitization on Foreclosure and Modification Rates Using Early-Payment Defaults

Federal Reserve Bank of Atlanta Working Paper Series No. 2010-8
Number of pages: 28 Posted: 06 May 2010 Last Revised: 30 May 2015
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 57 (307,489)
Citation 3

Abstract:

foreclosure, mortgage, house prices

What Explains Differences in Foreclosure Rates? A Response to Piskorski, Seru, and Vig

FRB of Boston Working Paper No. 10-2
Number of pages: 16 Posted: 06 May 2010
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 54 (315,847)
Citation 3

Abstract:

15.

Reducing Foreclosures: No Easy Answers

Downloads 97 (223,249)
Citation 21

Reducing Foreclosures: No Easy Answers

NBER Macroeconomics Annual, Vol. 24, 2009, Federal Reserve Bank of Atlanta Working Paper 2009-15
Number of pages: 53 Posted: 23 Aug 2009
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 69 (277,951)
Citation 21

Abstract:

mortgage, foreclosure, modification, securitization

Reducing Foreclosures: No Easy Answers

NBER Working Paper No. w15063
Number of pages: 54 Posted: 16 Jun 2009
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 28 (409,818)
Citation 21

Abstract:

16.

Unemployment, Negative Equity, and Strategic Default

Number of pages: 50 Posted: 13 Jul 2013
Kristopher Gerardi, Kyle F. Herkenhoff, Lee E. Ohanian and Paul Willen
Federal Reserve Bank of Atlanta, University of Minnesota, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 95 (125,140)
Citation 1

Abstract:

unemployment, employment, job loss, assets, mortgage, modifications, default, strategic, strategic default, negative equity, trigger, single trigger, double trigger, liquidity constraint, mortgage default, delinquency, PSID, mortgage distress, financial liquidity, negative equity and unemployment

17.

Why Did so Many People Make so Many Ex Post Bad Decisions? the Causes of the Foreclosure Crisis

Downloads 53 (313,967)
Citation 9

Why Did so Many People Make so Many Ex Post Bad Decisions? the Causes of the Foreclosure Crisis

NBER Working Paper No. w18082
Number of pages: 63 Posted: 19 May 2012
Christopher L. Foote, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 35 (379,121)
Citation 9

Abstract:

Why Did so Many People Make so Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis

FRB Atlanta Working Paper No. 2012-7
Number of pages: 62 Posted: 22 Mar 2015
Christopher L. Foote, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 18 (464,914)
Citation 9

Abstract:

financial crisis, mortgage, foreclosure, asymmetric information, mortgage-backed security (MBS), collaterized debt obligation (CDO)

18.

The Effect of Social Entitlement Programs on Private Transfers: New Evidence of Crowding Out

Downloads 45 (337,328)

The Effect of Social Entitlement Programs on Private Transfers: New Evidence of Crowding Out

Number of pages: 28 Posted: 23 Jul 2010 Last Revised: 05 Jul 2014
Kristopher Gerardi and Yuping Tsai
Federal Reserve Bank of Atlanta and Spelman College
Downloads 45 (343,382)

Abstract:

Private Transfers, Public Transfers, Crowding Out

The Effect of Social Entitlement Programs on Private Transfers: New Evidence of Crowding Out

Economica 81, October 2014, pp.721-746
Posted: 07 Feb 2013 Last Revised: 07 Oct 2014
Kristopher Gerardi and Yuping Tsai
Federal Reserve Bank of Atlanta and Centers for Disease Control and Prevention (CDC)

Abstract:

crowding out, private transfers, Social Security

19.

Fracking and Mortgage Default

Downloads 31 (386,163)

Fracking and Mortgage Default

Number of pages: 55 Posted: 23 Mar 2017
Chris Cunningham, Kristopher Gerardi and Lily Shen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Clemson University
Downloads 21 (447,648)

Abstract:

fracking, mortgage, default, real estate, credit risk, oil and gas, debt

Fracking and Mortgage Default

FRB Atlanta Working Paper No. 2017-4
Number of pages: 53 Posted: 06 Apr 2017
Chris Cunningham, Kristopher Gerardi and Yannan Shen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Atlanta and Clemson University
Downloads 10 (510,768)

Abstract:

mortgage default, hydraulic fracking, house prices, shale gas

20.

Can't Pay or Won't Pay?: Unemployment, Negative Equity, and Strategic Default

Downloads 28 (399,032)

Can't Pay or Won't Pay?: Unemployment, Negative Equity, and Strategic Default

FRB of Boston Working Paper No. 15-13
Number of pages: 81 Posted: 25 Nov 2015
Kristopher Gerardi, Kyle F. Herkenhoff, Lee E. Ohanian and Paul Willen
Federal Reserve Bank of Atlanta, University of Minnesota, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 15 (482,181)

Abstract:

Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default

NBER Working Paper No. w21630
Number of pages: 74 Posted: 12 Oct 2015
Kristopher Gerardi, Kyle F. Herkenhoff, Lee E. Ohanian and Paul Willen
Federal Reserve Bank of Atlanta, University of Minnesota, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 13 (493,734)

Abstract:

21.

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

Downloads 25 (413,027)
Citation 1

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

NBER Working Paper No. w17666
Number of pages: 49 Posted: 17 Dec 2011
Kristopher Gerardi, Lauren Lambie-Hanson and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Boston - Research Department
Downloads 16 (476,386)
Citation 1

Abstract:

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

FRB Atlanta Working Paper No. 2011-16a
Number of pages: 43 Posted: 22 Mar 2015
Kristopher Gerardi, Lauren Lambie-Hanson and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Boston - Research Department
Downloads 9 (516,134)
Citation 1

Abstract:

foreclosure, mortgage, judicial, power of sale, right to cure

22.

Foreclosure Externalities: Some New Evidence

Downloads 18 (448,720)
Citation 1

Foreclosure Externalities: Some New Evidence

NBER Working Paper No. w18353
Number of pages: 47 Posted: 08 Sep 2012
Kristopher Gerardi, Eric Rosenblatt, Paul Willen and Vincent W. Yao
Federal Reserve Bank of Atlanta, Federal National Mortgage Association (Fannie Mae) - Research, Federal Reserve Bank of Boston - Research Department and Georgia State University - J. Mack Robinson College of Business
Downloads 12 (499,465)
Citation 1

Abstract:

Foreclosure Externalities: Some New Evidence

FRB Atlanta Working Paper No. 2012-11
Number of pages: 46 Posted: 22 Mar 2015
Kristopher Gerardi, Eric Rosenblatt, Paul Willen and Vincent W. Yao
Federal Reserve Bank of Atlanta, Federal National Mortgage Association (Fannie Mae) - Research, Federal Reserve Bank of Boston - Research Department and Georgia State University - J. Mack Robinson College of Business
Downloads 6 (531,749)
Citation 1

Abstract:

foreclosure, mortgage, judicial, power of sale, right to cure

23.

Decomposing the Foreclosure Crisis: House Price Depreciation versus Bad Underwriting

FRB Atlanta Working Paper No. 2009-25
Number of pages: 47 Posted: 23 Mar 2015
Kristopher Gerardi, Adam Hale Shapiro and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco and Federal Reserve Bank of Boston - Research Department
Downloads 9 (394,611)
Citation 3

Abstract:

foreclosure, mortgage, house prices

24.

Price Discrimination and Business-Cycle Risk

FRB Atlanta Working Paper No. 2011-3
Number of pages: 35 Posted: 23 Mar 2015
Marco Cornia, Kristopher Gerardi and Adam Hale Shapiro
Johns Hopkins University - Department of Economics, Federal Reserve Bank of Atlanta and Federal Reserve Bank of San Francisco
Downloads 4 (479,527)
Citation 1

Abstract:

airlines, price discrimination, price dispersion, markup, business cycle

25.

Price Dispersion Over the Business Cycle: Evidence from the Airline Industry

The Journal of Industrial Economics, Vol. 60, Issue 3, pp. 347-373, 2012
Number of pages: 27 Posted: 18 Oct 2012
Marco Cornia, Kristopher Gerardi and Adam Hale Shapiro
affiliation not provided to SSRN, Federal Reserve Bank of Atlanta and Federal Reserve Bank of San Francisco
Downloads 1 (536,520)

Abstract:

26.

Unexpected Wealth Change and Mortgage Default: Evidence from the Shale Gas Boom

Number of pages: 43 Posted: 20 Feb 2017
Lily Shen, Chris Cunningham and Kristopher Gerardi
Clemson University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Atlanta
Downloads 0 (503,889)

Abstract:

fracking, mortgage, default, gas, real estate, shale gas

27.

Are Lemons Sold First? Dynamic Signaling in the Mortgage Market

FRB Atlanta Working Paper No. 2016-8
Number of pages: 67 Posted: 19 Jul 2016
Manuel Adelino, Kristopher Gerardi and Barney Hartman-Glaser
Duke University, Federal Reserve Bank of Atlanta and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 0 (184,644)

Abstract:

securitization, mortgage default, adverse selection, signaling, asymmetric information

28.

Identifying the Effect of Securitization on Foreclosure and Modification Rates Using Early Payment Defaults

Journal of Real Estate Finance and Economics, Vol. 49, No. 3, 2014
Posted: 03 Oct 2014
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department

Abstract:

Early payment default; Foreclosure; Mortgage; Securitization

29.

The Effect of Social Entitlement Programmes on Private Transfers: New Evidence of Crowding Out

Economica, Vol. 81, Issue 324, pp. 721-746, 2014
Number of pages: 26 Posted: 02 Sep 2014
Kristopher Gerardi and Yuping Tsai
Federal Reserve Bank of Atlanta and Carter Consulting Inc.
Downloads 0 (536,520)

Abstract:

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