About

Pavel Krivenko is an Assistant Professor of Real Estate at the Zicklin School of Business. His research interests include Macroeconomics, Financial Economics, and Real Estate. He is interested in understanding the role of financial frictions, uncertainty, and heterogeneity for financial markets and for the real economy. In terms of tools, he uses quantitative models with incomplete markets and heterogeneous agents, and disciplines these models with micro data.

His recent paper, “Unemployment and the U.S. Housing Market During the Great Recession“,  studies the housing bust with particular attention to unemployment scars and to moving shocks. Young people have lower wealth, lose jobs more frequently, and move more for exogenous reasons. This makes the demand for housing more sensitive to labor and credit market conditions and helps the model explain the housing bust.

Another paper proposes a simple perturbation approach for dynamic models with agents who differ in their perception of exogenous shocks. The leading example studies asset premia, precautionary savings, and gains from insurance in a borrower-lender model with agents who differ in aversion to Knightian uncertainty (ambiguity).

Publications
Awards