Christopher L. House

Department of Economics, 238 Lorch Hall, University of Michigan, Ann Arbor MI 48109

Tel: (734) 764-2364  Fax: (734) 764-2769  Email:


Academic Appointments

Associate Professor, University of Michigan, Department of Economics, 2008 – present

Research Associate, National Bureau of Economic Research (NBER).

Faculty Associate, Survey Research Center (SRC), Institute for Social Research (ISR).


Prior Appointments

Assistant Professor, University of Michigan, Department of Economics, 2001 – 2008



      Ph.D.   Boston University, Department of Economics, 2001.                                                                             

      M.A.    Northeastern University, 1994.

      B.S.      University of Massachusetts at Amherst, 1992.                                                                                      


Refereed Publications

Temporary Investment Tax Incentives: Theory with Evidence from Bonus Depreciation,” with Matthew D. Shapiro. American Economic Review, 93(3), pp. 437-768, June 2008. 


Durable Goods and Conformity,” with Emre Ozdenoren. RAND Journal of Economics, 39(2), pp. 452-468, Summer 2008. 


Valuing Lost Home Production of Dual Earner Couples,” with John Laitner and Dmitriy Stolyarov. International Economic Review, 49(2), pp. 701-736, May 2008.


Sticky-Price Models and Durable Goods,” with Robert Barsky and Miles Kimball. American Economic Review, 97(3), pp. 984-998, June 2007.


Phased-In Tax Cuts and Economic Activity,” with Matthew Shapiro. American Economic Review, 96(5), pp. 1835-1849, December 2006.


Adverse Selection and the Financial Accelerator,” Journal of Monetary Economics, 53(6), pp. 1117-1134, September 2006.


An sS Model with Adverse Selection,” with John Leahy. Journal of Political Economy, 112(3), pp. 581-614, June 2004.


Other Publications

“Comment on ‘By How Much Does GDP Rise if the Government Buys More Output?’ by R. E. Hall,” Brookings Papers on Economic Activity, Vol 2, 2009.


“Comment onBudget Deficits, National Saving, and Interest Rates’ by W. G. and P. Orszag,” Brookings Papers on Economic Activity, Vol 2, 2004.


Working Papers

“Investment Supply and Tax Incentives: Estimates and Applications.” (with Ana-Maria Mocanu and Matthew D. Shapiro) 2010.

“Managing Markets for Toxic Assets.” (with Yusufcan Masatlioglu), working paper. 2010.

“Layoffs, Lemons and Temps.” (with Jing Zhang) working paper. 2010.

“Fixed Costs and Long-Lived Investments.” NBER working paper No. 14402, under submission 2009. 

“Investment Timing in Fixed-Cost Models: Evidence and Implications.” (with Ana-Maria Mocanu) 2010.

“Home Production by Dual-Earner Couples and Consumption During Retirement.” (with John Laitner and Dmitriy Stolyarov). MRRC working paper 2006-143, November 2006.

“Do Flexible Durable Goods Prices Undermine Sticky Price Models?” with Robert Barsky and Miles Kimball.  NBER working paper No. 9832, 2003.


Work in Progress

“Optimal Monetary Policy and Durable Goods.” (with R. Barsky and M. Kimball) 2010. 

“A Contestable Market Theory of the Funds Rate.” (with Emre Ozdenoren) 2008.

“Internal Rates of Return and Business Cycle Dynamics.” 2008.

“Taxes and Long-Lived Capital Goods.” (with Matthew Shapiro) 2007.

“Propagation in a Working Capital Model.” 2007.

“Time on the Market and Conformity for Durable Goods.” (with Emre Ozdenoren) 2007

“Optimal Monetary Policy When Investments Can Be Timed.” 2005.

“Monetary Policy and Credit Market Failure.” Unpublished manuscript, 2000.

“Government Spending Shocks and the International Consumption Correlation Puzzle,” (with Jonathan Willis). Unpublished manuscript, 1999.


Professional Activities

Co- organizer, NBER Monetary Economics Research Meeting, November, 2010.
Associate Editor, Journal of Money, Credit and Banking, September 2009 to present. 
Co-Editor, B.E. Journal of Macroeconomics, January 2008 to present.
Visiting scholar, Federal Reserve Bank of Kansas City, October 2008. 
Session co-organizer, AEA Annual Meetings, Session on Durable Goods, January, 2007.
Co-organizer, NBER Monetary Economics Research Meeting, November, 2006.
Session organizer, Society for Economic Dynamics (SED), Paris, July 2003.


Referee for

American Economic Review (Excellence in Refereeing Award, 2007-2008), Journal of Political Economy, Econometrica, Quarterly Journal of Economics, Review of Economic Studies, Journal of Monetary Economics, International Economic Review, RAND Journal of Economics, Review of Economics and Statistics, Journal of Public Economics, Journal of Money Credit and Banking, Journal of the European Economic Association, Economic Theory, B.E. Journal of Macroeconomics, Review of Economic Dynamics, Journal of Economic Dynamics and Control, Journal of Macroeconomics, Macroeconomic Dynamics and the National Science Foundation (NSF).


Grants and Financial Support

SSA 10-P-98362-5-01, “Life-Cycle Saving in Dual-Earner Households.” (Co-PI, with J. Laitner (PI) and D. Stolyarov (Co-PI)), 2003 – 2004.

SSA 10-P-98362-5-03, “Home Production by Dual Earner Couples and Consumption During Retirement.” (Co-PI, with J. Laitner (PI) and D. Stolyarov (Co-PI)), 2005 – 2006.

SSA 10-P-98362-5-04, “Trends in the Labor Force Participation of Married Women.” (Co-PI, with J. Laitner (PI) and D. Stolyarov (Co-PI)), 2006 – 2007.

HHS/NIH/NIA 1-R01-AG030841-01, “A Life-Cycle Analysis of Health, Family Structure, Wealth, and Retirement.” (Co-PI, with J. Laitner (PI), D. Silverman (Co-PI) and D. Stolyarov (Co-PI)), 2007 – 2010.   

NSF No. SES-0962219, “Investment: Theory, Estimates, and Public Policy.” (PI, with M. D. Shapiro (Co-PI)), 2009-2011.


Invited Seminars

Boston College, April, 2010.
Duke University, January 2010.
Brown University, October 2009.
University of Windsor, October 2009. 
University of Pennsylvania, Wharton School, April 2009.
Boston College, April, 2009.
Federal Reserve Bank of Kansas City, October 2008.
University of Quebec at Montreal, September 2008. 
Georgia State University, September 2008.
Federal Reserve Board of Governors, May 2008. 
Federal Reserve Bank of Kansas City, April 2008. 
University of Illinois at Urbana-Champaign, February 2008. 
New York University, October 2007. 
Federal Reserve Bank of New York, October 2007.
Ohio State University, September 2007.
Boston College, November 2006.
Boston University, November 2006.
University of Pennsylvania, March 2006.
Federal Reserve Bank of Chicago, October 2005.
University of Pennsylvania, March 2005.
University of California, Berkley, February 2005.
Yale University, October 2004.
University of Massachusetts, Amherst, October 2004.
Federal Reserve Bank of St. Louis, April 2004.
Federal Reserve Bank of Kansas City, February 2004.
University of Western Michigan, January 2004.
Princeton University, November 2003.
McMaster University, October 2003.
Indiana University, October 2003.


Conference Presentations

Midwest Macroeconomics Conference May 2010.
SITE Summer Workshop August 2008.  
Society for Economic Dynamics (SED) July 2008.
Econometric Society, June 2008. 
NBER Monetary Economics Meeting, April 2008.
AEA Annual Meeting, January 2007.
NBER Summer Institute July 2006: Macro Perspectives.
Econometric Society, June 2006.
AEA Annual Meeting, January 2006.
Midwest Macroeconomics Conference May 2005.
Brookings Panel on Economic Activity, September 2004.
NBER Summer Institute July 2004: Monetary Economics.
NBER Public Economics Meeting October 2003.
UWO/EPRI Monetary Economics Conference October 2003.
Society for Economic Dynamics (SED) July 2003.
Midwest Macroeconomics Conference May 2003.
AEA Annual Meeting January 2002.
NBER Monetary Economics Meeting November 2001.
NBER Summer Institute July 2001: Capital Markets and the Economy.
Society for Economic Dynamics (SED) June 2000.
Midwest Macroeconomics Conference April 2000.
Theories and Methods in Macroeconomics (T2M) May 1999.


Formal Ph.D Supervision

Aneeqa Aqeel (Lake Forest College), Angus Chu (Academia Sineca), Olivier Coibion (College of William and Mary), Nikolay Iskrev (Central Bank of Portugal), Edward Knotek (Federal Reserve Bank of Kansas City), Hangyu Lee, Ana-Maria Mocanu, Phacharaphot Nuntramas (San Diego State University), Rafael Portillo (IMF).


Professional Affiliations

American Economic Association.

National Bureau of Economic Research.

Econometric Society

Society for Economic Dynamics.




John Leahy, New York University, Department of Economics

Phone: (212) 992-9770, email:


Russell Cooper, University of Texas at Austin, Department of Economics

Phone: (512) 471-3510, email:


Simon Gilchrist, Boston University, Department of Economics

Phone: (617) 353-6824, email:


Stephen Parente, University of Illinois at Urbana-Champaign, Department of Economics

Phone: (217) 244-3625, email:


Matthew D. Shapiro, University of Michigan, Department of Economics

Phone: (734) 764-5419, email: