Housing is the single largest asset class held by middle-class Americans. Policymakers (incl. Biden-Harris admin) have sought to increase minority homeownership as a way to narrow the racial wealth gap in the US.

The racial gap in realized housing returns is an order of magnitude larger than disparities arising from housing costs and is driven entirely by differences in distressed home sales, from Amir Kermani and Francis Wong nber.org/papers/w29306

“There is a limit with what you can do with finance,...,once you have these disparities in the upstream. You really have to fix the problem from the source.”

A Dimensional Fund Advisors Distinguished Paper Prize goes to Marco DiMaggio, Amir Kermani, and Kaveh Majlesi, "Stock Market Returns and Consumption" doi.org/10.1111/jofi.1…

I am looking for a full-time research assistant to collaborate with me on all stages of the research process on projects in the fields of financial economics, development economics, international trade, and applied macroeconomics. Econ RA Listings

How tightening monetary policy transmits to the economy through the mortgage market and the distributional consequences at both the individual and regional levels, from Joshua Bosshardt, @ProfDiMaggio, Ali Kakhbod, and Amir Kermani nber.org/papers/w31464

Data from 180 countries shows return migration is common and linked to origin industry growth. A year’s US experience boosts returns to emerging economy workers 59-204 percent over returns in the origin country, from Amanzadeh, Amir Kermani, and McQuade nber.org/papers/w32352

Startups co-founded by immigrants and natives outperform native-only and immigrant-only firms in size, funding, and innovation due to broader access to talent and capital, from Zhao Jin, Amir Kermani, and Timothy McQuade nber.org/papers/w33804