CURRICULUM VITAE
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KARL E. CASE
Katherine Coman and A. Barton Hepburn Professor of Economics
Department of Economics
Wellesley College, 106 Central Street
Wellesley, Massachusetts 02481
HOME: 125 Grove Street
Wellesley, Massachusetts 02482
PHONE: Office (781) 283-2178 Wellesley College
Fax (781) 283-2177
Home (781) 235 0519
Email: kcase@wellesley.edu
DATE AND PLACE OF BIRTH: November 5, 1946, New York City
EDUCATION:
1977 Ph.D., Harvard University, Economics. Thesis: “Intrajurisdictional
Variation in Effective Rates of Property Taxation: An Empirical Analysis." Special
Fields: Public Finance and Urban Economics
1974 M.A. Harvard University, Economics
1968 B.A. Miami University, Oxford, Ohio, Economics and English, Phi Beta Kappa,
General Honors
MILITARY SERVICE: October, 1968 August, 1971: Captain, U.S. Army Medical Service
Corps. U.S. Army, Viet Nam, 1970 71
POSITIONS:
Katharine Coman and A. Barton Hepburn Professor of Economics, Wellesley
College, 2000-present; Courses: Public Finance, Law and Economics, Urban
Economics, Microeconomic Analysis, Statistics and Econometrics, Principles
of Economics,
Federal Tax Policy
Professor of Economics, Wellesley College, 1986-present
Marion Butler McLean Professor in the History of Ideas, Wellesley College,
1991 1995
Visiting Scholar, Research Department, Federal Reserve Bank of Boston, 1985
present
Boards of Directors, Mortgage Guaranty Insurance Corporation and MGIC Investment
Corporation, Milwaukee, Wisconsin, 1991 present
Associate Editor, Journal of Economic Perspectives, 2003-preaent
Board of Directors, The American Real Estate and Urban Economics Association, 2003-present
Founding Partner, Fiserv Case Shiller Weiss, Inc., 1990-present
Board of Directors, Lincoln Institute of Land Policy, Cambridge, MA and the Lincoln Foundation, Phoenix, AZ, 1998-present
Board of Directors, Century Bank, Medford, Massachusetts, 1995-present
Lecturer on Economics and Tax Policy, International Tax Program, Harvard
Law School, 1980 1999, Course: Economics and Tax Policy
Board of Directors, New England Economic Project, Inc., 1993 2001
Editorial Boards: Journal of Housing Economics
Journal of Housing Research
Massachusetts Benchmarks
Journal of Student Financial Aid
Chairman, Department of Economics, Wellesley College, 1982 85, 1999-2000
Associate Editor and Member of the Editorial Board, Journal of Economic Education,
1982 1986
Director, Urban Studies Program, Wellesley College, 1979 1984
Staff Member, American Economic Association Teacher Training Program, June
1981, 1982, 1983
Fellow in Law and Economics, Harvard Law School, 1980 81
Head Tutor in Economics (Director of Undergraduate Studies), Harvard University,
1974 76
MEMBERSHIPS:
American Economic Association
American Real Estate and Urban Economics Assn.
National Tax Association
Committee on Economic Education, American Economic Association, 1979 1983
Committee on Standards of Ability to Pay, The College Board, 1980 91
The Boston Economics Club, 1987 present
FELLOWSHIPS AND AWARDS:
Richard D. Simmons Biannual Scholastic Achievement Award given by the Massachusetts
Board of Real Estate Appraisers 1996
Liberal Arts Fellow, Harvard Law School, 1980 81
Allyn Young Teaching Prize, Harvard U. 1974
Woodrow Wilson Fellow, Harvard University 1971-74
PUBLICATIONS:
BOOKS
Principles of Economics, Prentice Hall, Englewood Cliffs, New Jersey, with
Ray C. Fair, 1989, Second Edition, 1992, Third Edition, 1994, Fourth Edition,
1996, Fifth Edition 1999, Sixth Edition 2002, Seventh Edition 2004
Economics and Tax Policy, Oelgeschlager, Gunn and Hain Publishers, Boston,
Massachusetts 1986; reprinted 2003
FairModel Student Manual: An Economic Laboratory in Theory Policy and Forecasting,
Prentice Hall, Englewood Cliffs, N.J., 1985, with A. Blackburn
Property Taxation: The Need for Reform, Ballinger Publishing Company, Cambridge,
Mass. 1978
Discrimination in Rural Housing Markets, D.C. Heath, Lexington Books, Lexington,
Mass., 1976, with Janet Marantz and Herman Leonard
ARTICLES AND MONOGRAPHS (Recent):
“Is There a Bubble in the Housing Market?” Brookings Papers on Economic
Activity, #2, 2003, with Robert Shiller
“Home Buyers, Housing and the Macroeconomy,” with John M. Quigley
and Robert Shiller, in Asset Prices and Monetary Policy, Reserve Bank of Australia,
November, 2003
“Home Price Appreciation in Low and Moderate Income Markets,” Communities
and Banking, Federal Reserve Bank of Boston, Spring 2002
"Reconsidering Critical Concepts in Micro Principles," American Economic Review, Volume 92 Number 2, May, 2002
"Home Appreciation in Low and Moderate Income Markets," with Maryna Marynchenko, in Nicolas P. Retsinas and Eric S. Belsky, Low Income Homeownership: Examining the Unexamined Goal, Brookings Institution Press, 2002
“Property Tax Limits, Local Fiscal Behavior, and Property Values: Evidence from Massachusetts under Proposition 2 1/2,” with Katherine Bradbury and Christopher Mayer, Journal of Public Economics (80)2 (May 2001) pp. 287-311
“Real Estate and the Macroeconomy,” Brookings Papers on Economic Activity, Volume 2, 2000
"School Quality and Massachusetts Enrollment Shifts in the Context of Tax Limitations," with Katharine Bradbury and Christopher Mayer, New England Economic Review, July/August 1998.
"Chasing Good Schools in Massachusetts," with Katharine Bradbury and Christopher Mayer, Regional Review, Vol. 8 No. 3. 1998.
"The Effect of Economic Events on Votes for President: A State by State
Analysis," Advances in International Macroeconomic Theory, volume 3, Winter
1997, with Brock Blomberg
"Volatility, Speculation and the Efficiency of Land Markets," in
Land Use and Taxation, H. James Brown, Editor, Lincoln Institute of Land Policy,
Cambridge, MA., 1997
"Default Risk and Real Estate Prices: The Use of Index-Based Futures and
Options in Real Estate," Journal of Housing Research, Volume 7, #2, 1996,
with Robert Shiller.
"Housing Price Dynamics within a Metropolitan Area," with Christopher
Mayer, Regional Science and Urban Economics, Vol. 26, 1996.
"The Housing Cycle in the Boston Metropolitan Area: the Boom, the Bust and the Recovery," with Christopher Mayer, New England Economic Review, March/April, 1995.
"A Decade of Boom and Bust in the Prices of Single-Family Homes: Boston
and Los Angeles:1983-1993" New England Economic Review, March, 1994
"Housing and Land Prices in the United States: 1950 1990," in The Economics
of Housing in the United States and Japan, James Poterba, Editor, University
of Chicago Press, 1994.
“Index Based Futures and Options Markets in Real Estate," Journal
of Portfolio Management, January 1993, with Robert Shiller
"How the Commercial Real Estate Boom Undid the Banks," in Real Estate
and the Credit Crunch, Lynn E. Brown and Eric S. Rosengren, Editors, Federal
Reserve Bank of Boston, Conference Series #36, September 1992, with Lynn E. Browne
"Consistent Comparisons Between Monopoly and Perfect Competition," Journal
of Economic Education, Summer, 1992, with Susan Skeath, Ann Velenchik and Len
Nichols.
"Taxes and Speculative Behavior in Land and Real Estate Markets," Review
of Urban and Regional Development Studies, 4, 1992; republished Research in Urban
Economics, JAI Press, 1994.
"The Real Estate Cycle and the Regional Economy: The Consequences of the
Massachusetts Boom of 1984 1987," New England Economic Review, Sept./Oct.
1991. Revised version in Urban Studies, Spring 1992 Second revision published
in French in Financiere et Economie, 1994.
"Property Tax Incidence in a Multijurisdictional Neoclassical Model," with
James Grant, Public Finance Quarterly, Vol. 19, No. 4, October, 1991
"Investors, Developers and Supply Side Subsidies: How Much is Enough?" Housing
Policy Debate, Vol. 2, No. 2, April, 1991
"Forecasting Prices and Excess Returns in the Housing Market," with
Robert Shiller, Journal of the American Real Estate and Urban Economics Association,
Vol. 18, No.4, 1990
"Principles Politics and Budgets," Journal of Student Financial
Aid, Vol. 20. No. 2, Spring 1990
"Regional Economic Cycles: The Massachusetts Downturn in Perspective," in
Bank Regulation, Real Estate and the Massachusetts Economy, monograph published
by the Massachusetts Bankers Association, May, 1990
"Geographic Patterns of Mortgage Lending in Boston, 1982 1987," with
Katherine L. Bradbury and Constance R. Dunham, New England Economic Review, Sept./Oct.
1989
"Comments on the Asset Approach to Pricing Urban Land: Empirical Evidence," Journal
of the American Real Estate and Urban Economics Association, Vol. 17, No.2, Summer
1989
"The Distributional Effects of Housing Price Booms: Winners and Losers in
Boston, 1980 89" with Leah Cook, New England Economic Review, March/April,
1989
"The Efficiency of the Market for Single Family Homes" with Robert
Shiller, American Economic Review, March, 1989
"The Behavior of Home Buyers in Boom and Post Boom Markets," with Robert
Shiller, New England Economic Review, Nov./Dec. 1988
"Observations on the Use of Textbooks in the Teaching of Principles of Economics," Journal
of Economic Education, Vol. 19, No. 2, Spring 1988
"Prices of Single Family Homes Since 1970: New Indexes for Four Cities," with
Robert Shiller, New England Economic Review, Sept./Oct. 1987
"State Tax Policy and the Telecommunications Industry," in The Telecommunications
Revolution: Challenge for State Policymakers, J. Chaisson and B. Dyer, Editors,
Council of State Policy and Planning Agencies, 1987; Revised version published
1993.
"The Market for Single Family Homes in Boston, 1979 1985," New England
Economic Review, May/June 1986