Fac Staff Detail

Professor Piskorski's research interests include dynamic security design and contracting, real estate finance, asset securitization, as well as market structure and regulation.

• 2013 AQR Insight Award (Distinguished Paper Prize)
  Award for the academic finance paper offering the most significant implications toward improved investment-- for the paper "Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market."
• National Science Foundation
  Award 1124188, Understanding the Determinants of Household Default Decisions in the Mortgage Crisis-- Principal Investigator with Chris Mayer and Ed Morrison-- $347,811, 9/1/2011-8/31/2014.
• Pew Charitable Trusts
  Grant for "Analysis of Second Liens and a New Proposal"-- Principal Investigator with Chris Mayer and Ed Morrison-- $25,000, June, 2012.

• Spring 2013
  Real Estate Finance (MBA)
  
• Spring 2012
  Real Estate Finance (MBA)
  
• Summer 2011
  Real Estate Finance (MBA)
  
• Spring 2011
  Real Estate Finance (MBA)
  
• Spring 2010
  Real Estate Finance (MBA)
  
• Spring 2009
  Real Estate Finance (MBA)
  

Mortgage Financing in the Housing Boom and Bust In Housing and the Financial Crisis (2012)
Author(s): Ben Keys, Tomasz Piskorski, Amit Seru, Vikrant Vig

The Inefficiency of Refinancing: Why Prepayment Penalties Are Good for Risky Borrowers In Journal of Financial Economics (2013)
Author(s): Christopher Mayer, Tomasz Piskorski, Alexei Tchistyi

Optimal Securitization with Moral Hazard In Journal of Financial Economics (2012)
Author(s): Barney Hartman-Glaser, Tomasz Piskorski, Alexei Tchistyi

Stochastic House Appreciation and Optimal Mortgage Lending In Review of Financial Studies (2011)
Author(s): Tomasz Piskorski, Alexei Tchistyi

Securitization and Distressed Loan Renegotiation: Evidence from the Subprime Mortgage Crisis In Journal of Financial Economics (2010)
Author(s): Tomasz Piskorski, Amit Seru, Vikrant Vig

Optimal Mortgage Design In Review of Financial Studies (2010)
Author(s): Tomasz Piskorski, Alexei Tchistyi

Risky Human Capital and Deferred Capital Income Taxation In Journal of Economic Theory (2010)
Author(s): Borys Grochulski, Tomasz Piskorski

Essay: A New Proposal for Loan Modifications In Yale Journal on Regulation (2009)
Author(s): Christopher Mayer, Edward Morrison, Tomasz Piskorski

U.S. Domestic Money, Inflation and Output In Journal of Monetary Economics (2006)
Author(s): Yunus Aksoy, Tomasz Piskorski

Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market (2013)
Author(s): Tomasz Piskorski, Amit Seru, James Witkin

Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program (2012)
Author(s): Sumit Agarwal, Gene Amromin, Zahi Ben-David, Souphala Chomsisengphet, Tomasz Piskorski, Amit Seru

Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide Working Paper No. 17065 (2011)
Author(s): Christopher Mayer, Edward Morrison, Tomasz Piskorski, Arpit Gupta

Optimal Dynamic Contracts with Moral Hazard and Costly Monitoring Working Paper No. FBE 36-09 (2011)
Author(s): Tomasz Piskorski, Mark Westerfield