Tomasz Piskorski

Edward S. Gordon Associate Professor of Real Estate

Finance and Economics

Edward S. Gordon Associate Professor of Real Estate

The Paul Milstein Center for Real Estate

BA, Warsaw University, 1999; MS, Catholic University Leuven, 2000; MS, New York University, 2006; PhD, New York University, 2007

Joined CBS in 2007

Download Curriculum Vitae (PDF)

Tomasz Piskorski

Office
810 Uris

Phone
212-854-4655

E-mail
tp2252@columbia.edu

Fax
212-662-8474

Teaching and research interest

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

Honors and awards

  • 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.

Chapters

Mortgage Financing in the Housing Boom and Bust In Housing and the Financial Crisis (2013)
Author(s): Ben Keys, Tomasz Piskorski, Amit Seru, Vikrant Vig

More Information

Journal articles

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

More Information

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

More Information

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

More Information

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

More Information

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

More Information

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

More Information

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

More Information

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

More Information

Working Papers

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

More Information

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

More Information

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

More Information

Forthcoming Articles

Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide In American Economic Review (2012)
Author(s): Christopher Mayer, Edward Morrison, Tomasz Piskorski, Arpit Gupta

More Information