Researcher, Economics Service (Systems Group)
Economics Service | Pathfinder
Researcher, Economics Service, Systems Group, the Myers-JDC-Brookdale Institute (MJB), Israel’s leading center for applied social research.
Steven Laufer has worked at MJB since 2020. His main areas of research are economics and household finance. Prior to joining MJB, Steven was a principal economist at the Federal Reserve in Washington, DC, where he advised the Board of Governors on housing and mortgage markets.
Steven has a bachelor’s degree in physics from Harvard University, a master’s degree in physics from the University of Chicago, and a PhD in economics from New York University.
He can be contacted by email at [email protected].
Government programs in Israel and in English-speaking OECD countries to address unemployment during the COVID-19 pandemic
This paper reviews the programs implemented by governments in Israel and in English-speaking OECD countries (United States, Australia, New Zealand, England, Canada, Ireland) to address the rise in unemployment caused by the COVID-19 pandemic, with the intention of placing Israeli experience in an international context.
Financial Literacy and Household Access to Emergency Funds at the Beginning of the COVID-19 Pandemic and the Implications for the Financial Resilience of Israeli Households
The overarching goal of this research is to expand the existing knowledge on the financial resilience of households in Israel, in light of the ongoing economic slowdown.
Israeli Households’ Use of Financial Resources and Government Assistance During the COVID-19 Pandemic
The goals of the study were: Measure the percentage of households that have reduced or withdrawn savings, taken out loans, or deferred payments in the wake of the pandemic ; Understand which households used these resources more, and identify patterns that are not apparent from aggregate financial data; Examine the extent to which various types of government assistance have helped mitigate the harm to households.
Employment, Income and Household Finances in Israel during the COVID-19 Pandemic
Background Social isolation and other dramatic steps taken by the Israeli government to slow the spread of COVID-19 in Israel have caused significant damage to the economy. At an aggregate level, the GDP fell at an annual rate of 7% in the first quarter of 2020 and of 29% in the second quarter. A broad […]
Laufer, S. & Paciorek, A. (2022). The Effects of Mortgage Credit Availability: Evidence from Minimum Credit Score Lending Rules. American Economic Journal: Economic Policy 2022, 14(1), 240-76.
Laufer, S., & Tzur-Ilan, N. (2021). The effect of LTV-based risk weights on house prices: Evidence from an Israeli macroprudential policy. Journal of Urban Economics, 124, doi.org/10.1016/j.jue.2021.103349
Bhutta, N., Bricker, J., Dettling, L, Kelliher, J and Laufer, S. (2020). Stress testing household debt, Journal of Credit Risk. 16(3), 1-34. DOI: 10.21314/JCR.2020.268
Kim, Y. S., Laufer, S. M., Pence, K. Stanton, R., and Wallace, N. (2018). Liquidity crises in the mortgage market. Brookings Papers on Economic Activity, spring, 347-428.
Laufer, S. (2018). Equity extraction and mortgage default. Review of Economic Dynamics, 28, 1-33.
Anenberg, E., and Laufer, S. (2017). A more timely house price index. Review of Economics and Statistics, 25, 722-734.
Bhutta, N., Laufer, S., and Ringo, D. R. (2017). Are rising home values restraining homebuying for lower-income families? FEDS Notes. Board of Governors of the Federal Reserve System, September 28, 2017.
Bhutta, N., Laufer, S., and Ringo, D. R. (2017). Residential mortgage lending in 2016: Evidence from the Home Mortgage Disclosure Act Data. Federal Reserve Bulletin, 103(6).
Bhutta, N., Laufer, S., and Ringo, D. R. (2017). The decline in lending to lower-income borrowers by the biggest banks. FEDS Notes. Board of Governors of the Federal Reserve System, September 28, 2017, https://doi.org/10.17016/2380-7172.2077.
Flinn, C., Gemici, A., and Laufer, S. (2017). Search, matching and training. Review of Economic Dynamics, 25, 260-297.
Ameriks, J., Caplin, A., Laufer, S., and Van Nieuwerburgh, S. (2011). The Joy of giving or assisted living? Using strategic surveys to separate public care aversion from bequest motives. Journal of Finance, 66(2), 519-561.
Ameriks, J., Caplin, A., Laufer, S., and Van Nieuwerburgh, S. (2008). Annuity valuation, long-term care and bequest motives. In Pension Research Council (Author), J. Ameriks & O. S. Mitchell (Eds.), Recalibrating retirement spending and saving (pp.251-275). Oxford.