Hua Kiefer

Federal Deposit Insurance Corporation Phone: (202) 898-3965

Center for Financial Research Fax: (202) 898-3500

550 17th Street NW Email: hkiefer@fdic.gov

Washington, DC 20429

Citizenship: U.S.A. 

PROFESSIONAL WORK EXPERIENCE

Sr. Financial Economist, Center for Financial Research May 2018 – Present

Federal Deposit Insurance Corporation

Research responsibility includes:

 Conduct independent research projects specialized in the field of banking and finance.

Sr. Financial Economist, Credit Risk Analysis Division April 2010 – May 2018

Financial Economist, Credit Risk Analysis Division July 2008 – April 2010

Office of the Comptroller of the Currency, US Department of the Treasury

Bank supervision responsibility includes:

 Assess banks’ model risk management practices and their approach to develop and 

validate credit risk models, particularly in the areas of retail/consumer credits such as 

mortgage, home equity, auto lending, credit card, small business, and credit card 

merchant processing; 

 Serve as subject-matter expert and advisor to OCC policy makers on issues related to 

housing finance and automated valuation models (AVM);

 Serve as subject-matter expert and advisor to inter/intra-agency committees, such as the 

OCC National Retail Risk Committee on modeling issues related to emerging retail credit 

risks and the Inter-agency Dodd-Frank Rulemaking Workgroup on AVM issues;

 Serve as subject-matter expert by speaking at industry conferences and supervisory 

workshops on model risk management guidance and practices;

 Develop and instruct consumer credit risk modeling training courses for OCC bank 

examiners;

 Serve as a data sponsor of regulatory and vendor data hosted in the OCC Economics 

Department.

Research responsibility includes:

 Conduct independent academic research focusing on issues related to real estate finance,

housing economics, and consumer credit risk using advanced econometric methods.

Visiting Assistant Professor, Economics Department August 2007 – July 2008 

Texas Tech University

Courses taught include: Managerial Economics and Principles of Economics (Micro/Macro)

Teaching Associate, Economics Department August 2002 – June 2007 

The Ohio State University

Courses taught with full responsibility include: Intermediate Microeconomics, Elementary 

Econometrics, and Principles of Microeconomics
Hua Kiefer / June 2018 / Page 2 of 2 

Courses taught with partial responsibility include: General Linear Regression Analysis (Graduate 

Level) and Game Theory in Economics

EDUCATION

Ph.D., Economics, The Ohio State University, Columbus, OH June 2007 

M.A., Economics, The Ohio State University, Columbus, OH June 2002

B.S., Economics, Huazhong University of Science and Technology, Hubei, P.R.China June 1999

DISSERTATION

“Essays on Spatial Relationships in Housing Economics,” supervised by Donald R Haurin and Lungfei Lee, [Available at http://www.ohiolink.edu/etd/view.cgi?acc_num=osu1180467420]

RESEARCH INTERESTS

Real Estate and Housing Economics, Banking and finance, Consumer Credit Risk Modeling, Spatial 

Econometrics

PBULICATIONS

1. Kiefer, Hua, Souphala Chomsisengphet and Xiaodong Liu (2018). “Spillover Effects in 

Home Mortgage Defaults: Identifying the Power Neighbor,” Regional Science and Urban 

Economics, 73, 68-82.

2. Kiefer, Hua, Dennis Glennon and Tom Mayock (2018). “Measurement Error in Residential 

Property Valuation: An Application of Forecast Combination,” Journal of Housing 

Economics, 41, 1-29.

3. Kiefer, Hua, Leonard Kiefer and Tom Mayock (2016). “Should we Fear the Shadow? House 

Prices, Shadow Inventory, and the Nascent Housing Recovery,” The Journal of Real Estate 

Finance and Economics, 52(3), 272–321.

4. Kiefer, Hua (2012). “Residential Location Choice: The Role of a Taste for Similarity,”

International Journal of Economics and Finance, 4(9), 34-60.

5. Kiefer, Hua (2011). “The House Price Determination Process: Rational Expectations with a 

Spatial Context,” Journal of Housing Economics, 20(4), 249-266.

FELLOWSHIPS, AWARDS, AND HONORS

OCC On-the-Spot Awards 2008 – May 2018

- Multiple awards for excellence in exam supports, academic journal

publications, and model risk training courses.

Finalist for the best paper award, North American Regional Science Association November 2006 

Dice Fellowship, Department of Economics, The Ohio State University Summer 2006

University Fellowship, The Ohio State University 2001-2002