About

Stuart A. Gabriel is a Distinguished Professor of Finance and Arden Realty Chair at UCLA Anderson School of Management. He is also the director of the UCLA Ziman Center for Real Estate. His research focuses on real estate finance and economics, housing and mortgage markets, urban and regional economics, and macroeconomics. Gabriel has served on the economics staff of the Federal Reserve Board in Washington, D.C., and as a visiting scholar at the Federal Reserve Bank of San Francisco. He has published more than 80 articles in economics and finance journals and serves on the editorial boards of seven academic journals. His recent research has addressed issues related to rental eviction moratoria and COVID-19, housing, and the global financial crisis, including assessments of foreclosure moratoria, integration and contagion in housing and financial markets, Google search behavior as an indicator of housing distress, GSE crowd-out in secondary mortgage markets, and the effects of CDO market implosion on mortgage pricing. Gabriel has received numerous research awards, including the Quigley Medal from the American Real Estate and Urban Economics Association in 2021. He has testified before the U.S. Congress and the California State Legislature and provided policy advice to elected officials at various levels. He is a past president of the American Real Estate and Urban Economics Association and a fellow of the Homer Hoyt Institute for Advanced Real Estate Studies. In 2021, he received the Neidorf “Decade” Teaching Award, and in 2023, he was honored with the J. Clayburn LaForce Faculty Leadership Award from UCLA Anderson. Gabriel holds a Ph.D. in economics from the University of California, Berkeley.

Research topics

• Political Science
• Business
• Macroeconomics
• Finance
• Economics
• Monetary economics
• Financial system
• Law
• Labour economics
• Medicine

Selected publications

• Third Generation Rent Control: Evidence from San Diego1

  SSRN Electronic Journal · 2026-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

• The Effects of Wildfire and Distant Air Pollution on Household Financial Well-Being

  Working paper · 2026-01-01

  reportOpen access
  PublisherDOI

• Development Approval Timelines, Approval Uncertainty, and New Housing Supply: Evidence from Los Angeles

  SSRN Electronic Journal · 2024-01-01 · 3 citations

  preprintOpen access1st authorCorresponding
  PublisherDOI

• The Impact of Crisis-Period Interest Rate Declines on Distressed Borrowers

  Review of Financial Studies · 2024-09-27

  article1st authorCorresponding

  Abstract We measure the causal impact of reductions in benchmark interest rates on the renegotiation and performance of distressed loans, using 2000s subprime mortgages as a laboratory. Subprime borrowers treated with larger benchmark rate reductions benefited from increased debt-renegotiation probabilities and lower debt-service payments. Modification rates were similar among current and delinquent borrowers but higher for real estate investors, highlighting the role of financial acumen in renegotiation. Renegotiations also reduced longer-run foreclosures, but treated borrowers who lingered in delinquency offset these benefits. Findings suggest monetary easing can spur debt renegotiation but alone may not lead to longer-run curative outcomes.

  PublisherDOI

• Development Approval Timelines, Approval Uncertainty, and New Housing Supply:Evidence from Los Angeles

  SSRN Electronic Journal · 2024-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

• The Effects of Extreme Wildfire and Smoke Events on Household Financial Outcomes

  SSRN Electronic Journal · 2023-01-01 · 8 citations

  articleOpen access
  PublisherDOI

• Whither Diversification?

  SSRN Electronic Journal · 2023-01-01

  articleOpen access
  PublisherDOI

• Extreme Wildfires, Distant Air Pollution, and Household Financial Health

  Working paper · 2023-12-27 · 6 citations

  reportOpen access

  We link detailed wildfire burn, satellite smoke plume, and ground-level pollution data to estimate the effects of extreme wildfire and related smoke and air pollution events on housing and consumer financial outcomes. Findings provide novel evidence of elevated spending, indebtedness, and loan delinquencies among households distant from the burn perimeter but exposed to high levels of wildfire-attributed air pollution. Results also show higher levels of financial distress among renters in the burn zone, particularly those with lower credit scores. Financial distress among homeowners within the fire perimeter is less prevalent, likely owing to insurance payout. Findings also show out-migration and declines in house values in wildfire burn areas. The adverse smoke and pollution effects are salient to a substantial geographically dispersed population and add appreciably to the household financial impacts of extreme wildfires.

  PublisherDOI

• More than Shelter: The Effect of Rental Eviction Moratoria on Household Well-Being

  AEA Papers and Proceedings · 2022-05-01 · 17 citations

  article

  We investigate the impact of the 2020 COVID-19 rental eviction moratoria on household well-being. Analysis of new panel data indicates that eviction moratoria reduced evictions and resulted in redirection of scarce household financial resources to immediate consumption needs, notably including food and grocery spending. We also find that eviction moratoria reduced household food insecurity and mental stress, with larger effects evidenced among African American households. Findings suggest broad salutary effects of eviction moratoria during a period of widespread virus and economic distress.

  PublisherDOI

• More Than Shelter: The Effects of Rental Eviction Moratoria on Household Well-Being

  Working paper · 2022-03-01 · 17 citations

  reportOpen access

  We investigate the impact of 2020 COVID-19 rental eviction moratoria on household well-being.

  PublisherDOI

Frequent coauthors

• John Cotter

  71 shared

• Yongheng Deng

  University of Wisconsin–Madison

  35 shared

• Stuart S. Rosenthal

  32 shared

• Matthew E. Kahn

  23 shared

• Danny Ben‐Shahar

  Tel Aviv University

  23 shared

• Richard Roll

  California Institute of Technology

  22 shared

• Yuval Arbel

  Western Galilee College

  20 shared

• Xudong An

  19 shared

Awards & honors

• Quigley Medal from the American Real Estate and Urban Econom…
• Neidorf “Decade” Teaching Award (2021)
• J. Clayburn LaForce Faculty Leadership Award from UCLA Ander…