Areas of Expertise (4)
Monetary Policy
Macroeconomy and Housing
Household Finance
Securitization
About
Amir Kermani is an Associate Professor at Berkeley Haas. He received a PhD in economics from MIT in 2013. He is also a faculty research fellow at the NBER. His current research interests include monetary policy, household finance, financial intermediation, and political economy.
Education (4)
MIT: PhD, Economics
London School of Economics: MSc, Economics
Sharif University of Technology: MSc, Managerial Economics
University of Tehran: BSc, Electrical Engineering
Links (4)
Honors & Awards (4)
RFS Rising Scholar Award
2018
MIT Department of Economics Fellowship
Fellowship
HAND Foundation Scholarship
Scholarship
Gold Medal of 33rd International Physics Olympiad
IPhO 2002
Languages (1)
- Persian
Positions Held (1)
At Haas since 2013
2019 – present, Associate Professor, Haas School of Business 2013 – 2019, Assistant Professor, Haas School of Business
Media Appearances (6)
Foreclosures Are Fueling America’s Racial Wealth Gap
Mother Jones online
2021-12-06
Research co-authored by Assoc. Prof. Amir Kermani found that there are higher rates of foreclosures and short sales among homeowners of color, and “distressed sales” are more steeply discounted in communities of color than in majority-white ones. The research points to the need to help these families weather the kinds of economic shocks that propel homes into foreclosure.
Analysis: Rising economic risks, but Fed likely won't tweak bond-buying for now
Reuters online
2020-12-04
Some analysts have speculated that a sharp rise in bond yields could nudge the Fed into action. But Assoc. Prof. Amir Kermani said that wasn't likely. "It’s not that hard to imagine that doing more QE now is going to make it harder for the Fed to manage both inflation and financial stability once the recovery starts," he said.
Helping consumers in a crisis
MIT News online
2020-06-25
The paper, “How Quantitative Easing Works: Evidence on the Refinancing Channel,” is published in the latest issue of the Review of Economic Studies. The authors are Marco Di Maggio, an associate professor at Harvard Business School; Amir Kermani, an associate professor at the Haas School of Business at the University of California at Berkeley; and Palmer, the Albert and Jeanne Clear Career Development Assistant Professor at the MIT Sloan School of Management.
Lower-income households spend more when the stock market is rising
Market Watch online
2018-01-29
And it doesn’t matter if they actually sell those stocks. Paper wins are just as much an incentive to go shopping, the study concluded. Households react just as much to potential capital gains as they do to realized capital gains, according to the study, conducted by researchers at Harvard Business School, the University of California, Berkeley and Lund University in Sweden.
Are Stockbrokers Leaking Confidential Info To Their Favorite Clients?
Forbes online
2017-07-06
Di Maggio is the author of the paper The Relevance of Broker Networks for Information Diffusion in the Stock Market, co-written by Francesco Franzoni, a finance professor at the Swiss Finance Institute; Amir Kermani, an assistant professor at the Haas School of Business at University of California, Berkeley; and Carlo Sommavilla, a doctoral student at the Swiss Finance Institute.
Quantitative Easing Did Not Ease The Housing Crisis For The Neediest Households
Forbes online
2016-10-31
The findings are detailed in the paper How Quantitative Easing Works: Evidence on the Refinancing Channel, co-authored by Marco Di Maggio, an assistant professor in the Finance Unit at Harvard Business School; Amir Kermani, an assistant professor at the Haas School of Business; and Christopher Palmer, also an assistant professor at Haas.
Selected Research Grants (1)
NBER Household Finance Grant Award
Sloan Foundation
Master Card Center for Inclusive Growth
Selected Papers & Publications (7)
How Quantitative Easing Works: Evidence on the Refinancing Channel
Review of Economic Studies
Marco Di Maggio, Amir Kermani, and Christopher Palmer
2019
Stock Market Returns and Consumption
Journal of Finance
Marco Di Maggio, Amir Kermani and Kaveh Majlesi
2019-09-07
2019
Interest Rate Pass-Through: Mortgage Rates, Household Consumption and Voluntary Deleveraging
American Economic Review
M. Di Maggio, A. Kermani, B. J. Keys, T. Piskorski, R. Ramcharan, A. Seru and V. Yao
2017
The Value of Trading Relations in Turbulent Times
Journal of Financial Economics
Marco Di Maggio, Amir Kermani and Zhaogang Sang
2017
Credit Induced Boom and Bust
Review of Financial Studies,
Marco Di Maggio and Amir Kermani
2017
Does Skin-in-the-Game Affect Security Performance? Evidence from the Conduit CMBS Market
Journal of Financial Economics
Adam Ashcraft, Kunal Gooriah and Amir Kermani
2017
The Value of Connections in Turbulent Times: Evidence from the United States
Journal of Financial Economics
Daron Acemoglu, Simon Johnson, Amir Kermani, James Kwak and Todd Mitton
2016
Teaching (1)
MFE 230 H
Financial Institutions and Risk Management
Social