2013 Policy Summit on Housing, Human Capital, and Inequality

Highlights and Recap: 2013 Policy Summit on Housing, Human Capital, and Inequality

The Federal Reserve Bank of Cleveland has convened an annual Policy Summit in our region as a forum for outside-the-Beltway discussions about key community and economic development issues affecting our regions. In 2013, we partnered with the Federal Reserve Bank of Philadelphia, whose communities and markets are similar to those in our district. The event, held September 19 and 20, 2013, drew almost 300 academics, bankers, elected officials, practitioners, and policymakers to the campus of the Cleveland Clinic for two days of knowledge exchange, dynamic discourse, and inspiring speakers on housing finance reform, student lending, neighborhood stabilization tools, and other topics. Closing keynote speaker Eldar Shafir shared research on how people, regardless of education level, can make poor decisions when faced with a scarcity of resources.

This page contains links to a range of materials from the Policy Summit, including presentations, video segments, and summaries and policy implications from research papers presented at the event.

September 19-20, 2013
Cleveland InterContinental Hotel & Conference Center

Watch videos of select Policy Summit sessions and download summaries and PowerPoint presentations.

Keynote Sandra Pianalto, President & CEO of the Federal Reserve Bank of Cleveland, on Housing and Consumer Finance

Plenary on The New Housing Finance System: Are We There Yet?

  • Video (90 minutes)video presentation
  • Robert Avery, Federal Housing Finance Agency (FHFA )
  • Shekar Narasimhan, Beekman Advisors, Inc.
  • David S. Scharfstein, Harvard Business School (no presentation available)
  • Susan Wachter, The Wharton School of the University of Pennsylvania

Research Session on Consumer and Household Finance

  • Meta Brown, Federal Reserve Bank of New York
    The Impact of Housing Markets on Consumer Debt: Credit Report Evidence from 1999 to 2012
    [ summary & implications ]
  • Hoonsuk Park, The Ohio State University
    Financial Constraints and Consumers' Response to Expected Cash Flows: Direct Evidence from Filing Tax Returns
    [ summary & implications ]
  • Katherine Samolyk, Consumer Financial Protection Bureau (CFPB)
    Checking Account Activity, Account Costs, and Account Closure among Low- and Moderate-Income Households
    [ summary & implications ]

Practitioner Session on Small Business Financing Trends

Learning Session on QMs & QRMs: What They Mean for Bankers

Research Session on Improving the Mortgage Origination Process

  • Andrew Hanson, Marquette University
    Experimental Tests for Discrimination by Mortgage Loan Originators
    [ summary & implications ]
  • Lan Shi, The Urban Institute
    The Effect of Mortgage Broker Licensing On Loan Origination Standards and Defaults under the Originate-to-Distribute Model: Evidence from the U.S. Mortgage Market
    [ summary & implications ]
  • Kenneth Temkin, Temkin Associates
    Pre-Purchase Counseling Impacts on Mortgage Performance: Empirical Analysis of NeighborWorks America’s Experience
    [ summary & implications ]

Practitioner Session on Nontraditional Tools in the Neighborhood Stabilization Toolbox

Plenary on Consumer Finances and Protection in the New Regulatory Environment

  • Video (82 minutes)video presentation
  • Mark Sniderman, Federal Reserve Bank of Cleveland (moderator)
  • Michael Barr, University of Michigan Law School
  • Vanessa Perry, George Washington University (no presentation available)
  • Jonathan Zinman, Dartmouth College (no presentation available)

Keynote Eldar Shafir, William Stewart Tod Professor of Psychology and Public Affairs, Princeton University, on Scarcity and Decisionmaking

Research and policy

Finding a connection

In advance of each Policy Summit we issue a call for papers, aimed at eliciting the latest and most relevant research on topics we’re covering at that year’s conference. Read summaries of and policy implications for the research papers presented at the 2013 Policy Summit.

Small businesses: How are they faring post-recession?

What are the top challenges facing small business after the Great Recession? Two presenters from the Policy Summit describe demands of the current workplace, including that workers be adaptable, collaborative, agile, and entrepreneurial, in an Economic Development podcast. View the transcript or play the audio MP3.

May 12-14, 2014

Mark your calendars

Those are the dates of the 2014 Reinventing Older Communities conference, "Bridging Growth and Opportunity." The biennial conference, sponsored by the Federal Reserve Bank of Philadelphia in partnership with the Cleveland Fed and others, will be held next May at the Loews Philadelphia Hotel. Check out highlights and a summary from the 2012 event, "Building Resilient Cities."

Sponsored by the Federal Reserve Bank of Cleveland and the Federal Reserve Bank of Philadelphia