Thursday, April 28 - Friday, April 29, 2011

Thursday, April 28

7:30 – 8:30 Registration and Continental Breakfast
8:30 – 9:15 Welcoming Remarks

President John Williams, Federal Reserve Bank of San Francisco

Governor Elizabeth Duke, Federal Reserve Board of Governors

9:15 – 10:45 The Landscape of Consumer Finance

ChairAlfreda B. Norman, Federal Reserve Bank of Dallas
DiscussantRaphael Bostic, Department of Housing and Urban Development

Determinants of the Incidence of Loan Modifications 
Vicki Been, Mary Weselcouch, New York University and Ioan Voicu, Scott Murff, Office of the Comptroller of the Currency 
Paper (pdf, 1.1 mb)
Presentation (pdf, 123 kb)

Credit Scores after the Crisis: Understanding the Long-term Impact of Foreclosures on Lower-Income Households
Kenneth Brevoort, Federal Reserve Board of Governors 
Paper (pdf, 506 kb)
Presentation (pdf, 506 kb)

Coping with Adversity: Personal Bankruptcy Decisions of Lower-Income Homeowners Before and After Bankruptcy Reform 
Mark Lindblad, Roberto Quercia, Sarah Riley, Melissa Jacoby, Tianji Cai, Ling Wang, and Kim Manturuk, Center for Community Capital, University of North Carolina – Chapel Hill 
Paper (pdf, 1.1 mb)
Presentation (pdf, 189 kb)

10:45 – 11:00 Break
11:00 – 12:30 Alternative Financial Services:   Access and Impact on Household Financial Well-Being

ChairSigne-Mary McKernan, Urban Institute
DiscussantJohn Caskey, Swarthmore College

The Impact of Access to Payday Loans on Household Balance Sheets 
Neil Bhutta, Federal Reserve Board of Governors 
Presentation (pdf, 222 kb)

Payday Loans vs. Pawn Shops: The Effect of Loan Fee Limits on Household Use
Robert B. Avery, Federal Reserve Board of Governors
Paper (pdf, 150 kb)
Presentation (pdf, 150 kb)

Regulating on the Fringe: Re-Examining the Link Between Fringe Banking and Financial Distress
Jim Hawkins, University of Houston Law Center
Paper (pdf, 324 kb)

12:30 – 2:00 Luncheon Keynote

IntroductionSandy Braunstein, Federal Reserve Board of Governors

Jeffrey Sachs, Director, Earth Institute, Columbia University

Author of the New York Times bestsellers Common Wealth and The End of Poverty, Professor Sachs is also Special Advisor to United Nations Secretary-General Ban Ki-moon. From 2002 to 2006, he was Director of the UN Millennium Project and Special Advisor to United Nations Secretary-General Kofi Annan on the Millennium Development Goals, the internationally agreed goals to reduce extreme poverty, disease, and hunger by the year 2015.

Concurrent Sessions
2:00 – 3:30
Session A: Understanding the Impacts of Foreclosure on Lower-Income Households and Communities

ChairMarsha Courchane, Charles River Associates
DiscussantJames H. Carr, National Community Reinvestment Coalition

Do Foreclosures Cause Crime?
Ingrid Gould Ellen, Johanna Lacoe and Claudia Sharygin, New York University
Paper (pdf, 385 kb)
Presentation (pdf, 189 kb)

Do Children Lose More than a Home? The Effects of Foreclosure on Children’s Educational Outcomes
Ashlyn Aiko Nelson, Indiana University, David Figlio, Northwestern University, and Stephen Ross, University of Connecticut 
Presentation (pdf, 414 kb)

The Post-Foreclosure Experience of US Households in the Current Housing Market Downturn
Raven Molloy and Hui Shan, Federal Reserve Board of Governors 
Paper (pdf, 193 kb)
Presentation (pdf, 258 kb)

  Session B: Looking Ahead:  Food Markets and Sustainable Communities

ChairJacqueline King, Federal Reserve Bank of Minneapolis
DiscussantElsie Meeks, USDA Rural Development

A Social, Economic, and Human Capital Evaluation of Farmers Markets 
Richard McCarthy, Market Umbrella
Paper (pdf, 111 kb)
Presentation (pdf, 336 kb)
Handout 1 (pdf, 176 kb)
Handout 2 (pdf, 700 kb)

A Comprehensive Method for Identifying Optimal Areas for Supermarket Development
Kennen Gross, Lance Loethen, and Ira Goldstein, The Reinvestment Fund
Paper (pdf, 436 kb)
Presentation (pdf, 2.6 mb)

Waiting for Change: Employment Dynamics for Tipped Workers in the Restaurant Industry 
Sylvia Allegretto, Institute for Research on Labor and Employment, UC Berkeley
Paper (pdf, 404 kb)
Presentation (pdf, 276 kb)

3:30 – 4:00 Break
4:00 – 5:30 Researchers Roundtable
Counseling Revisited:  Linking Research, Practice & Policy

ChairTammy Edwards, Federal Reserve Bank of Kansas City
DiscussantMichael Collins, University of Wisconsin

Impacts of Counseling under the National Foreclosure Mitigation Counseling Program
Neil Mayer, Neil Mayer & Associates, Peter A. Tatian, Kenneth Temkin and Charles A. Calhoun, The Urban Institute
Paper (pdf, 736 kb)
Presentation (pdf, 98 kb)

Estimating the Effects of Foreclosure Counseling for Troubled Borrowers
Max Schmeiser, Federal Reserve Board of Governors 
Paper (pdf, 236 kb)
Presentation (pdf, 101 kb)

In Search of a Fresh Start: Can Credit Counseling Help Debtors Recover from Bankruptcy? 
Angela Lyons, University of Illinois at Urbana-Champaign, Shawn Howard, Money Management International, and Erik Scherpf, Economic Research Service, USDA 
Presentation (pdf, 128kb)

Do Consumers Benefit From Credit Counseling Payment Plans?
John Barron, Purdue University and Michael Staten, University of Arizona
Paper (pdf, 135 kb)
Presentation (pdf, 99 kb)

5:30 – 5:45 Closing Remarks

Joseph Firschein, Federal Reserve Board of Governors

5:45 – 7:00 Networking Reception

Friday, April 29

7:30 – 8:30 Registration and Continental Breakfast
8:30 – 9:00 Welcoming Remarks

Anna Alvarez Boyd, Federal Reserve Board of Governors

President James Bullard, Federal Reserve Bank of St. Louis

9:00 – 10:30 Neighborhoods and Opportunity:  Re-Examining the Links between People and Place

ChairKimberly Zeuli, Federal Reserve Bank of Richmond
DiscussantJared Bernstein, Chief Economist and Economic Policy Adviser to Vice President Joseph Biden

Does Community Building Matter, or Are Schools Enough? Lessons from the Harlem Children’s Zone
Roland Fryer and Will Dobbie, Harvard University
Paper (pdf, 981 kb)
Presentation (pdf, 293 kb)

Mixed-Income Development: Emerging Challenges and Implications for Policy and Practice 
Mark L. Joseph, Case Western Reserve University 
Presentation (pdf, 796 kb)
Handout (pdf, 61 kb)

The Social Determinants of Health: How Neighborhoods Matter 
Kathleen Cagney, University of Chicago
Presentation (pdf, 355 kb)

10:30 – 11:00 Break
Concurrent Sessions
11:00 – 12:30
Session A: The Future of Community Development Finance

ChairTodd Greene, Federal Reserve Bank of Atlanta
DiscussantEllen Seidman, Former Director, Office of Thrift Supervision
Presentation (pdf, 47 kb)

After the Financial Crisis: The Roles and Responsibilities of Banking Institutions in Financing Community Economic Development 
Robin Newberger and Michael Berry, Federal Reserve Bank of Chicago
Presentation (pdf, 120 kb)

What Can Community Development Venture Capital Tell Us About the Future of Community Development Finance?
Julia Sass Rubin, Rutgers University
Presentation (pdf, 31 kb)

The Impact of the LIHTC Program on Local Schools
Wenhua Di, Federal Reserve Bank of Dallas and James C. Murdoch, University of Texas at Dallas
Paper (pdf, 268 kb)
Presentation (pdf, 267 kb)

  Session B
Future Paths to Sustainable Homeownership

ChairKilolo Kijakazi, Ford Foundation 
DiscussantRay Boshara, Federal Reserve Bank of 
St. Louis and New America Foundation

Perception and Reality during the Financial Crisis: Homeownership, Low-Income Households, and Financial Stress 
Kimberly Manturuk, Sarah Riley and Janneke Ratcliffe, Center for Community Capital, University of North Carolina – Chapel Hill
Paper (pdf, 129 kb)
Presentation (pdf, 257 kb)

Balancing Affordability and Opportunity: An Evaluation of Affordable Homeownership Programs with Long-term Affordability Controls 
Kenneth Temkin, Brett Theodos, and David Price, The Urban Institute 
Paper (pdf, 284 kb)
Presentation (pdf, 158 kb)

Caught in the Housing Bubble: Immigrants’ Housing Outcomes in Traditional Gateways and Newly Emerging Destinations
Gary Painter,  University of Southern California, and Zhou Yu, University of Utah
Presentation (pdf, 74 kb)

FHA Lending: Recent Trends and their Implications for the Future 
Harriet Newburger, Federal Reserve Bank of Philadelphia
Paper (pdf, 460 kb)
Presentation (pdf, 98 kb)

12:30 – 1:50 Luncheon Keynote

Chairman Ben Bernanke
Federal Reserve Board of Governors

1:50 – 2:00 Closing Remarks

Anna Alvarez Boyd, Federal Reserve Board of Governors

2:00 Conference Adjourns