Meet the Researchers
Robert J. Kurtzman
Education
- Ph.D., Economics, University of California - Los Angeles, 2015
- M.A., Economics, University of California, Los Angeles, 2011
- B.A., Economics, Pomona College, 2008
- B.A., Mathematics, Pomona College, 2008
Current Research Topics
- Financial Frictions
- Commercial Real Estate
Economist
Board of Governors of the Federal Reserve System
2015 - present
- The value of renegotiation frictions: Evidence from commercial real estate
David Glancy, Robert Kurtzman, and Lara Loewenstein
Journal of Financial Intermediation (Forthcoming)
https://doi.org/10.1016/j.jfi.2025.101144 - CRE redevelopment options and the use of mortgage financing
David Glancy, Robert Kurtzman, and Lara Loewenstein
Real Estate Economics (Forthcoming)
https://doi.org/10.1111/1540-6229.12510 - Trends in Credit Unions' Share of U.S. Private Depository Household Lending
Robert J. Kurtzman and Hannah Landel
FEDS Notes (2025)
https://doi.org/10.17016/2380-7172.3697 - From Plans to Starts: Examining Recent Trends in Manufacturing Plant Construction
Eirik Eylands Brandsaas, Robert Kurtzman, and Joseph Nichols
FEDS Notes (2025)
https://doi.org/10.17016/2380-7172.3667 - Determinants of Recent CRE Distress: Implications for the Banking Sector
David Glancy and Robert Kurtzman
Finance and Economics Discussion Series (2024)
https://doi.org/10.17016/FEDS.2024.072 - On Commercial Construction Activity’s Long and Variable Lags
David Glancy, Robert J. Kurtzman, and Lara Loewenstein
Finance and Economics Discussion Series (2024)
https://doi.org/10.17016/FEDS.2024.016 - Recourse as shadow equity: Evidence from commercial real estate loans
David Glancy, Robert Kurtzman, Lara Loewenstein, and Joseph Nichols
Real Estate Economics (2023)
https://doi.org/10.1111/1540-6229.12450 - Aggregate Implications of Deviations from Modigliani-Miller: A Sufficient Statistics Approach
Robert Kurtzman and David Zeke
Finance and Economics Discussion Series (2023)
https://doi.org/10.17016/FEDS.2023.045 - From-Whom-to-Whom Relationships in the Financial Accounts of the United States A New Methodology and Some Early Results
Michael M. Batty, Elizabeth Holmquist, and Robert J. Kurtzman
FEDS Notes (2023)
https://doi.org/10.17016/2380-7172.3273 - Intermediary Segmentation in the Commercial Real Estate Market
David Glancy, John R. Krainer, Robert J. Kurtzman, and Joseph B. Nichols
Journal of Money, Credit and Banking (2022)
https://doi.org/10.1111/jmcb.12889 - Did QE lead banks to relax their lending standards? Evidence from the Federal Reserve’s LSAPs
Robert Kurtzman, Stephan Luck, and Tom Zimmermann
Journal of Banking & Finance (2022)
https://doi.org/10.1016/j.jbankfin.2018.08.009 - How Do Capital Requirements Affect Loan Rates? Evidence from High Volatility Commercial Real Estate
David Glancy and Robert Kurtzman
Review of Corporate Finance Studies (2022)
https://doi.org/10.1093/rcfs/cfab013 - Accounting for COVID-19 Related Funding, Credit, Liquidity, and Loan Facilities in the Financial Accounts of the United States
Matthew Hoops and Robert J. Kurtzman
FEDS Notes (2021)
https://doi.org/10.17016/2380-7172.2956 - Across the Universe: Policy Support for Employment and Revenue in the Pandemic Recession
Ryan A. Decker, Robert J. Kurtzman, Byron F. Lutz, and Christopher J. Nekarda
Finance and Economics Discussion Series (2021)
https://doi.org/10.17016/FEDS.2020.099r1 - Across the Universe: Policy Support for Employment and Revenue in the Pandemic Recession
Ryan A. Decker, Robert J. Kurtzman, Byron F. Lutz, and Christopher J. Nekarda
American Economic Review: Papers and Proceedings (2021)
https://doi.org/10.1257/pandp.20211058 - Misallocation Costs of Digging Deeper into the Central Bank Toolkit
Robert Kurtzman and David Zeke
Review of Economic Dynamics (2020)
https://doi.org/10.1016/j.red.2020.03.006 - An Aggregate View of Bank Lending Standards and Demand
David Glancy, Robert Kurtzman, and Rebecca Zarutskie
FEDS Notes (2020)
https://doi.org/10.17016/2380-7172.2546 - Changes in Monetary Policy and Banks' Net Interest Margins: A Comparison across Four Tightening Episodes
Jared Berry, Felicia Ionescu, Robert Kurtzman, and Rebecca Zarutskie
FEDS Notes (2019)
https://doi.org/10.17016/2380-7172.2352 - Accounting for Productivity Dispersion over the Business Cycle
Robert J. Kurtzman and David Zeke
Finance and Economics Discussion Series (2016)
https://doi.org/10.17016/FEDS.2016.045 - Poker Player Behavior After Big Wins and Big Losses
Gary Smith, Michael Levere, and Robert Kurtzman
Management Science (2009)
https://doi.org/10.1287/mnsc.1090.1044
Awards
- 2011
National Science Foundation
National Science Foundation Graduate Research Fellowship
- 2023
Division of Research and Statistics, Federal Reserve Board
R&S Division Director's Award
Last Update:
May 5, 2025