ALBANY, N.Y. (November 7, 2007)
James Hamilton, economics professor at the University of California San Diego, will discuss his paper, "Daily Monetary Policy Shocks and the Delayed Response of New Home Sales." The paper shows that changes in Federal Reserve policy immediately affect mortgage interest rates, but the effect on housing sales is drawn out over a much longer time.
James Hamilton, Professor of Economics, University of California San Diego
Kajal Lahiri, Distinguished Professor of Economics and Director, Econometric Research Institute, University at Albany
Thursday, Nov. 8, 2007
Media Availability: 2-2:30 p.m.
Lecture: 2:45-4:05 p.m.
Business Administration Building, 1400 Washington Ave., Albany, N.Y.
James Hamilton is one of the foremost authorities on the econometric analysis of housing and oil prices and their impacts on the national economy. Hamilton's book, Time Series Analysis, is one of the main texts in graduate economics programs throughout the world and has been translated into numerous languages. The seminar is the first in a series by international leaders in econometrics and economic forecasting, sponsored by UAlbany's Econometric Research Institute and the New York State Division of the Budget.