Jefferson Duarte

Gerald D. Hines Associate Professor of Real Estate Finance

Dr. Duarte is an Associate Professor of Finance and the Gerald D. Hines Professor of Real Estate Finance at the Jesse H. Jones Graduate School of Business at Rice University. He is an expert on several areas of asset pricing and real estate finance including option pricing, fixed income, and mortgage-backed securities (MBS). He has provided consulting services to several corporations such as Freddie Mac and BBVA. Dr. Duarte is a member of the Counselors of Real Estate.

Dr. Duarte has written papers on asset pricing, the term structure of interest rates, option pricing, and MBS. His research has received many awards including the prestigious Fama-DFA prize for the best asset pricing paper published in the Journal of Financial Economics. Prof. Duarte is a former associate editor of the Journal of Financial and Quantitative Analysis and he often serves as a referee for academic journals. Dr. Duarte’s research has been published in the top journals of his field. His research has also been widely covered in U.S. and international media, including the following papers and magazines: The Wall Street Journal, Financial Times, Reuters, Dow Jones Newswires, U.S. News & World Report, The New York Times, Barron’s and The Economist.

Prior to joining Rice University, Dr. Duarte was an Associate Professor at the Foster School of Business at the University of Washington in Seattle. Currently teaching real estate finance and real estate development, Dr. Duarte has also taught PhD and MBA level courses in option pricing models, term structure models, and risk management. Prior to joining academia, Dr. Duarte worked at the proprietary trading desk of JP Morgan Chase in New York as part of the group managing a multibillion dollar commercial mortgage-backed security (CMBS) portfolio.

Professor Duarte holds a B.Sc. in Civil Engineering from the Instituto Tecnológico de Aeronautica (Brazil), and both an MBA and a Ph.D. in Finance from the University of Chicago.

To read more about Prof. Duarte's work, please visit Rice Business Wisdom.

 

Teaching Interests: 

-Real estate finance
-Asset valuation
-Real estate development

Research Interests: 

-Empirical finance
-Derivatives
-Real estate finance

Intellectual Contributions

Journal Articles

A Comparison of some Structural Models of Private Information Arrival, with Edwin Hu and Lance Young. Accepted for publication at the Journal of Financial Economics Best Paper Presented at the 2015 Multinational Finance Association Meeting

Journal Articles

Davids, Goliaths and Business Cycles, with Nishad Kapadia, Journal of Financial and Quantitative Analysis, 2017, vol. 52, pp 2429-2460

Journal Articles

Foreign Listings, US Equity Markets, and the Impact of the Sarbanes-Oxley Act with Katie Kong, Stephan Siegel and Lance Young. Review of Finance, 2014, vol. 18, pp. 417-455

Journal Articles

Trust and Credit: The Role of Appearance in Peer-to-Peer Lending, with Stephan Siegel and Lance Young. Review of Financial Studies, 2012, vol. 25, 2455-2484. Best Paper Presented at the 2009 German Finance Association Meeting

Journal Articles

Residential Mortgage Credit Derivatives with Douglas A. McManus, Real Estate Economics, 2011, vol. 39, 671-700.

Journal Articles

Why is PIN Priced?  with Lance Young, Journal of Financial Economics, 2009, vol. 91, 119-138 (Lead Article) Fama-DFA Prize for the Best Paper Published in 200

Journal Articles

The Causal Effect of Mortgage Refinancing on Interest Rate Volatility: Empirical Evidence and Theoretical Implications, Review of Financial Studies, 2008, vol. 21, 1689-1731. Second Best Paper Presented at the 2006 WHU Fixed Income Conference  

Journal Articles

Information Asymmetry, Information Dissemination and the Effect of Regulation FD on the Cost of Capital with Xi Han, Jarrad Harford and Lance Young, Journal of Financial Economics, 2008, vol. 87, no. 1, 24-44

Journal Articles

Risk and Return in Fixed Income Arbitrage: Nickels in Front of a Steamroller? with Francis Longstaff and Fan Yu, Review of Financial Studies, 2007, vol. 20, no. 3, 769-811

Journal Articles

Evaluating an Alternative Risk Preference in Affine Term Structure Models, Review of Financial Studies, 2004, vol. 17, no. 2, 370-404