Professional Experience

  • Present 2015

    Vice-Dean Research, School of Business

    National University of Singapore

  • Present 2014

    Low Tuck Kwong Professor, Professor of Economics, Finance and Real Estate

    National University of Singapore

  • 2014 2013

    Dean's Chair, Associate Professor of Economics, Finance and Real Estate

    National University of Singapore

  • 2015 2013

    Deputy Head (Research)

    Department of Real Estate, NUS

  • 2014 2013

    Associate Professor of Economics (Courtsey)

    School of Arts and Social Science, NUS

  • 2014 2012

    Associate Professor of Finance

    School of Business, NUS

  • 2014 2012

    Associate Professor of Real Estate

    School of Design and Environment, NUS

  • 2015 2012

    Research Director

    CAMRI, NUS

  • 2012 2008

    Senior Financial Economist

    Federal Reserve Bank of Chicago

  • 2008 2006

    Financial Economist

    Federal Reserve Bank of Chicago

  • 2006 2004

    SVP

    Credit Risk Management Executive, Bank of America

  • 2004 2000

    VP

    Financial Economist, Bank of America

  • 2000 1999

    Senior Analyst

    Health Products Research

Education & Training

  • Ph.D. 1999

    Ph.D. in Economics

    University of Wisconsin, Milwaukee

  • M.A1995

    Master of Arts in Economics

    University of Wisconsin, Milwaukee

  • B.Sc1993

    Bachelor of Science in Computer Science

    University of Wisconsin, Milwaukee

Visiting and Consulting Experience

  • Present 2012

    Research Associate

    CBE, NUS

  • Present 2012

    Research Associate

    IRES, NUS

  • Present 2012

    Research Associate

    RMI, NUS

  • Present 2012

    Research Associate

    CQF, NUS

  • Present 2008

    Visiting Associate Professor

    Finance DepartmentIndian School of Business

  • 2008

    Consultant

    World Bank, IFC

  • 2007

    Adjunct Assistant Professor

    Finance DepartmentDePaul University

  • 2005

    Adjunct Assistant Professor

    Finance DepartmentGeorge Washington University

  • 1998 1995

    Instructor

    Economics Department, University of Wisconsin, Milwaukee

  • 1995

    Consultant

    Research Department, Bank of Uganda, Kampala, Uganda

Honors, Awards and Grants

  • Dec 2013
    Faculty Outstanding Researcher Award, NUS
  • Feb 2013
    NBER Household Finance Group/Sloan Foundation Research Grant
  • Sep 2012
  • June 2012
    Excellence in Refereeing Award 2011/2012 – American Economic Review
  • Nov 2011
  • Jan 2011
    Networks Financial Institute, Best Paper Award
  • Jan 2011
  • Jan 2009
    Terker Family Prizes in Investment Research Award, Wharton School of Business
  • May 2008
    Paolo Baffi Centre on Central Banking and Financial Regulation Award
  • April 2008
    Center for Financial Research Grant, Federal Deposit Insurance Corporation
  • Feb 2008
    Glucksman Institute Research Award, New York University
  • Oct 2007
    Consumer Financial Education and Research Award, TCAI, University of Arizona
  • March 2006
    Center for Financial Research Grant, Federal Deposit Insurance Corporation
  • UWM 1995
    J Walter Elliot Award for Excellence in Macroeconomics

Media

Channel News Asia

S&P pays US$1.4b in settlements, Video, February 6th, 2015

+ Go To

Channel News Asia

Singapore's home mortgage rates continue to rise, Video, February 2nd, 2015

+ Go To

Channel News Asia

Uber aims for $40 Billion Valuation, Video, November 27th, 2014

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Channel News Asia

Bit Coins Boom or Bust, Video, September 14th, 2014

+ Go To

BBC, Asia Business Report

What does Jackson Hole mean for Asia’s businesses, August 25th, 2014

+ Go To

Channel News Asia

Bit Coins in Singapore, Video, July 26th, 2014

+ Go To

BBC, Asia Business Report

Asian Workers Rights, May 1st, 2014

+ Go To

BBC, Asia Business Report

Australia Eyes Insider Trading Crackdown, July 12th, 2013

+ Go To

Channel News Asia

Business Singapore, Wong Wiew Ying, MAS Reportedly in Discussions to Discontinue SIBOR, Video, February 18th, 2013

+ Go To

CNBC Squawk Box

Lisa Oake, Rigging Currency Rates in Singapore, February 6th, 2013

+ Go To

Channel NewsAsia

Thomas Cho, Regional banks see jump in merger and acquisition activities, Print Story, November 2nd, 2012

+ Go To

Channel NewsAsia

Bridging Asia, Should Happiness be a National Target, Print Story, October 30th, 2012

+ Go To

BBC, Asia Business Report

HSBC Apologizes Over Claims it Aided Money-Laundering, July 19th, 2012

+ Go To

Channel NewsAsia

Kristie Neo, MAS looking into SIBOR setting process, July 18th, 2012

+ Go To

BBC, Asia Business Report

JP Morgan Loss: Bank Risks 'Different in Asia', May 15, 2012

+ Go To

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Golf Buddies and Board Diversitiy, AER Version,

American Economic Review Papers and Proceeding, Forthcoming

with Qian W., David Reeb and Tien Foo Sing
Press

The Composition Effect of Consumption Around Retirement: Evidence from Singapore, AER Version

American Economic Review Papers and Proceeding, 2015, Vol 105 (5), Pp. 426-431

Press

Cognitive Ability and Household Financial Decision Making, AEJ-Applied Version, Online Appendix

American Economic Journal - Applied Economics, 2013, Vol. 5(1), Pp. 193-207

The Consumption and Debt Response to Minimum Wage Increases, AER Version , Online Appendix

American Economic Review, 2012, Vol. 102(7), Pp. 3111-39 (Lead Article)

Press

Adverse Selection in Mortgage Securitization, JFE Version

Journal of Financial Economics, 2012, Vol. 105(3), Pp. 640-660

with Chang Y. and A. Yavas
Press

The Role of Securitization in Mortgage Renegotiation, JFE Version

Journal of Financial Economics, 2011, Vol. 102(3), Pp.559-578

Press

Distance and Private Information in Lending, RFS Version

Review of Financial Studies, 2010, Vol. 23(7), Pp. 2757-2788

Press

Learning to Cope: Voluntary Financial Education Programs and the Housing Crisis ,

AER Version

American Economic Review Papers and Proceedings, 2010, Vol. 100(2), Pp. 495-500

Press

Payday Loans and Credit Cards: New Liquidity and Credit Scoring Puzzles

American Economic Review Papers and Proceedings, 2009, Vol. 99(2), Pp. 412-417

Urban Economics

Under Submission

Finance

Professor of Finance
Office BIZ1-07-69
Mochtar Raidy Building
15 Kent Ridge Drive
National University of Singapore
Singapore, 119245
Phone: +65 6516-5316 (O)
Email: bizagarw@nus.edu.sg

Real Estate

Professor of Real Estate
Office SDE1-05-10
School of Design and Environment
4 Architecture Drive
National University of Singapore
Singapore, 117566
Phone +65 6601 2622(O)
Email: rstagarw@nus.edu.sg
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