Adam Guren

· Associate Professor

Boston University · Economics

Active 2011–2025

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Citations2.3k

Papers4118 last 5y

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About

Adam Guren is an associate professor in the Department of Economics at Boston University. He is an empirical macroeconomist whose work primarily focuses on the intersection of the housing market, household finance, and the macroeconomy. His research includes topics such as house prices, the 2000s housing boom and bust, housing wealth effects, foreclosures and foreclosure policy, mortgage design, and macroprudential policy. Additionally, he has studied labor markets, trade, and macroeconomic issues. Professor Guren teaches Ph.D. and MA macroeconomic theory, topics in macroeconomics, and undergraduate housing policy. He is a faculty research fellow at the National Bureau of Economic Research (NBER). His academic background includes a PhD from Harvard University. He is based at Boston University’s Arts & Sciences Economics department, where he contributes to research and teaching in macroeconomics and housing policy.

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Selected publications

Do Credit Conditions Move House Prices?

American Economic Review · 2025-09-30 · 16 citations

articleSenior author

Did credit drive the 2000s housing cycle? The existing literature’s findings range from credit having no effect to credit explaining most of the cycle. We show that these disparate results hinge on the extent to which landlords absorb credit-driven demand, which depends on the degree of housing market segmentation. We develop a model that nests cases between the extremes of no segmentation and perfect segmentation typically considered, estimate an elasticity that pins down the degree of segmentation, and use it to calibrate our model. We find credit standards played an important role, explaining 32 percent to 53 percent of the boom. (JEL E32, E44, G51, R21, R31)

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Adam Guren

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