Danny Gold

I am a Ph.D. candidate at the University of Wisconsin–Madison Economics Department. I study real estate, urban economics, and industrial organization.

I will be on the 2025-26 job market and presenting my job market paper at the following conferences:

  • Urban Economics Association (UEA) North American Meeting in Montreal, QC

  • APPAM Fall Research Conference in Seattle, WA

  • Structural Microeconomics Conference in Durham, NC

  • Southern Economics Association (SEA) Meeting in Tampa, FL

I will also be in attendance at the 2026 ASSA annual meeting

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Daniel E. Gold
UW–Madison - Department of Economics
1180 Observatory Drive, Room 6470
Madison, WI 53706

Education


    Ph.D., EconomicsExpected May 2026
University of Wisconsin–Madison, WI

    MA, EconomicsJune 2017
University of Toronto - Toronto, ON

    BA, EconomicsJune 2016
Western Washington University - Bellingham, WA

Fields of Interest

Industrial Organization, Real Estate, Urban Economics, Applied Microeconomics


Works in Progress

“Regulatory Hurdles and Costly Delay in Housing Development.”

“Much ADU About Something? Evidence from a Recent Reform.” (With Anya Tarascina).

“Hidden Biases: Selective Advertising in the Rental Housing Market.” (with Lu Han and Christopher Timmins)

Publications

“The Effect of Regulatory Oversight on Nonbank Mortgage Subsidiaries.” Journal of Real Estate Finance and Economics 68, no. 3 (April 2024): 523-575. https://doi.org/10.1007/s11146-022-09906-z (With Eliana Balla, Ray Brastow, and Morgan Rose). Online Appendix

“The Effects of Residential Landlord-Tenant Laws: New Evidence from Canadian Reforms using Census Data.” Journal of Urban Economics 140 (March 2024): 103631. https://doi.org/10.1016/j.jue.2024.103631 (With Dylan Clarke).

“The Impact of Distance in Retail Markets.” AEA Papers & Proceedings 113 (May 2023): 229-233. (With Jean-François Houde, Peter Newberry, and Katja Seim). https://doi.org/10.1257/pandp.20231066


Academic Experience

    University of Wisconsin–MadisonMadison, WI
Research Assistant
    Lu Han, Real Estate & Urban Economics, July 2023–August 2024
    Jean-François Houde, Industrial Organization, September 2022–June 2023
    Alina Arefeva, Real Estate & Urban Economics, October 2020–September 2022
Teaching Assistant
    Fundamentals of Data Analytics for Economists, September 2024–December 2024
    Principles of Microeconomics, September 2020–May 2021 & January 2025–May 2025
    Federal Reserve Bank of RichmondBaltimore, MD
Research Analyst, September 2017–August 2020
    University of TorontoToronto, ON
Research Assistant, April 2017–October 2017
    Peter Morrow, International Trade
    Michel Serafinelli, Urban & Regional Economics
Teaching Assistant, September 2016–June 2017
    Principles of Microeconomics
    Economics of Energy & the Environment
    Big Ideas in Energy: Economics, Politics & Society
    Macroeconomic Theory & Policy
    Border Policy Research InstituteBellingham, WA
Field Research Supervisor, June 2016–August 2016
Research Assistant, June 2015–June 2016

Presentations, Schools, and Conferences

2026: AEA Annual Meeting

2025: IHS Graduate Research Conference, UW-Madison Industrial Organization Seminar, UW-Madison Economics Alumni Conference*, AMIE Workshop in Applied Microeconomics, AREUEA National Conference, Pre-WFA Summer Real Estate Research Symposium, AREUEA International Conference, CSQIEP Mentoring Conference, London School of Economics, UEA North American Conference, APPAM Annual Fall Research Conference, Structural Microeconomics Conference, SEA Annual Meeting

2024: IHS Graduate Research Conference, UW-Madison Economics Alumni Conference*, UW-Madison Industrial Organization Seminar, Wisconsin School of Business Real Estate Seminar, Econometric Society’s Summer School in Dynamic Structural Econometrics

2023:UW-Madison Industrial Organization Seminar, UW-Madison Economics Alumni Conference*, Chicago Price Theory Summer Camp

2022: UW-Madison Industrial Organization Seminar

2019: Richmond Fed Quantitative Supervision & Research (QSR) Brown Bag Series

2016: Pacific Northwest Regional Economic Conference

* Poster session Scheduled

Other Publications

"The Economic Impacts of Cross-Border Retailing" (2016) WWU Honors Program Senior Projects. Paper 8. https://cedar.wwu.edu/wwu_honors/8/

"Monetizing Some Benefits of Participation in NEXUS" (Border Policy Brief Vol. 10, No. 3). 2015. (With Chrisopher Dingman). https://cedar.wwu.edu/bpri_publications/9/


Technical Proficiencies

Stata: Advanced
Python: Intermediate/Advanced
Julia: Intermediate/Advanced
R: Intermediate
Matlab: Intermediate
GIS: Beginner/Intermediate
HTML: Beginner

Awards and Grants

  • Christensen Graduate Fellowship in Empirical Economics Fall 2025
  • Humane Studies Fellowship (No. IHS019299) Summer 2025
  • Humane Studies Fellowship (No. IHS018692) Winter 2025
  • Humane Studies Fellowship (No. IHS010899) Summer 2024
  • Data Set Purchase Grant (No. IHS017318) 2023–2026
  • Fulbright Canada Study/Research Grant 2016–2017

References

Ashley Swanson (chair)
Department of Economics
University of Wisconsin–Madison
swanson25@wisc.edu
Phone: (608) 262-5897
Jean-François Houde
Department of Economics
University of Wisconsin–Madison
houde@wisc.edu
Phone: (608) 262-7927
Alan Sorensen (teaching reference)
Department of Economics
University of Wisconsin–Madison
sorensen@ssc.wisc.edu
Phone: (608) 263-3867
Lu Han
Real Estate and Urban Land Economics
Wisconsin School of Business
lu.han@wisc.edu
Christopher Timmins
Real Estate and Urban Land Economics
Wisconsin School of Business
ctimmins@wisc.edu

Unprofessional Activities

  • Distance Running:
  • 2025 Lake Monona 20k

    May 2025 in Madison, WI

    Time: 1:32:22

    Pace: 7:26/mi

    Place: 113 of 1,244

    Results Link

    2024 Lake Monona 20k

    May 2024 in Madison, WI

    Time: 1:34:49

    Pace: 7:38/mi

    Place: 127 of 1,028

    Results Link

    2023 Doctoral Derby (5.07 miles)

    September 2023 in Madison, WI

    Time: 32:58

    Pace: 6:30/mi

    Place: 7 of 390

    Results Link

    2023 Frozen Assets 5k

    February 2023 in Madison, WI

    Time: 23:20

    Pace: 7:22/mi

    Place: 4 of 356

    Results Link

    2022 Doctoral Derby (5.39 miles)

    September 2022 in Madison, WI

    Time: 32:34

    Pace: 6:25/mi

    Place: 10 of 393

    Results Link

    2022 Madison Mini Marathon (half marathon)

    July 2022 in Madison, WI

    Time: 1:38:22

    Pace: 7:31/mi

    Place: 64 of 1214

    Results Link

    2021 Madison Half Marathon

    November 2021 in Madison, WI

    Time: 1:28:32

    Pace: 6:46/mi

    Place: 69 of 2,338

    Results Link

    2020 Virtual Races

    Sole of the City 10k - 38:20, 6:10/mile, 19 of 3,676

    Baltimore 10 miler - 1:14:15, 7:26/mile, 15 of 1,052

    Charles Street 12 - 1:32:52, 7:44/mile, 15 of 392

    2019 Baltimore Running Festival (Half Marathon)

    October 2019 in Baltimore, MD

    Time: 1:31:02

    Pace: 6:56/mi

    Place: 105 of 6,903

    Results Link

    2019 Charles Street 12-miler

    August 2019 in Baltimore, MD

    Time: 1:22:05

    Pace: 6:50/mi

    Place: 41 of 1,904

    Results Link

    Baltimore 10-miler

    June 2019 in Baltimore, MD

    Time: 1:06:55

    Pace: 6:42/mi

    Place: 49 of 6,097

    Results Link

    Sole of the City 10k

    April 2019 in Baltimore, MD

    Time: 38:20

    Pace: 6:10/mi

    Place: 19 of 3,674

    Results Link

    Shamrock 5k

    March 2019 in Baltimore, MD

    Time: 18:04

    Pace: 5:50/mi

    Place: 32 of 4,577

    Results Link

    NCR Trail Marathon

    November 2018 in Sparks Glencoe, MD

    Time: 3:08:35

    Pace: 7:12/mi

    Place: 15 of 280

    Results Link

    2018 Baltimore Running Festival (Half Marathon)

    October 2018 in Baltimore, MD

    Time: 1:32:04

    Pace: 7:02/mi

    Place: 86 of 7,604

    Results Link

    2018 Charles Street 12-miler

    September 2018 in Baltimore, MD

    Time: 1:24:34

    Pace: 7:03/mi

    Place: 51 of 2,220

    Results Link

    MEC Toronto Race Two (10k)

    April 2017 in Toronto, ON, Canada

    Time: 43:47

    Pace: 7:03/mi

    Place: 22 of 426

    (Results no longer hosted online)

    Fun with the Fuzz 5k

    April 2016 in Bellingham, WA

    Time: 20:07

    Pace: 6:29/mi

    Place: 33 of 1,268

    Results Link

    Chuckanut Mountain Marathon

    May 2015 in Bellingham, WA

    Time: 5:13:28

    Pace: 11:58/mi

    Place: 8 of 15

    Results Link

    Other 5k and 10k races in Washington from 2012 to 2014 without retrievable results
  • Vegan Cooking
  • Swimming, hiking, kayaking, and paddleboarding
  • Live music and music in general

  • Other Information

  • Languages: English (native), Spanish (intermediate)
  • Citizenship: United States
  • Abstract: We study the consequences of landlord–tenant laws on quality and prices in the rental housing market. We use the staggered introduction of Canadian Residential Tenancy Acts to study the consequences of a landlord–tenant reform that reduced tenants’ litigation costs and improved their bargaining power through mandatory contractual terms. To do so, we employ the difference-in-differences approach to estimate the average treatment effect on a repeated-cross section of households, controlling for income and family structure in five cities. The estimates imply that the reform led to a decline of 2.2 percentage points in the probability of a major defect, with no measurable effect on rent prices or homeownership rates. The average treatment effects are concentrated within families with children, who face greater costs to moving in response to property damage. The results are consistent with a stylized model in which a reduction in litigation costs allows the tenant to more cheaply recover on damages when moving costs are high, with second-generation rent controls limiting increases in rent prices charged by the landlord.


    The Impact of Distance in Retail Markets

    (With Jean-François Houde, Peter Newberry, and Katja Seim)

    AEA Papers and Proceedings 113: 229-233

    Abstract: We examine the demand-side implications of Amazon's distribution and logistics investments. Our results indicate that online demand—transactions at Amazon and its competitors—does not respond to the consumer's proximity to Amazon's upstream fulfillment distribution facilities, suggesting that their densification did not differentially improve local shipping times and on-time delivery. Instead, we find that investments in last-mile delivery facilities and services allow the company to improve shipping times more directly in the urban markets served by these facilities, simultaneously increasing demand through the rollout of same-day service options and reducing the visits to traditional brick-and-mortar retail.


    The Effect of Regulatory Oversight on Nonbank Mortgage Subsidiaries

    (with Eliana Balla, Raymond Brastow, and Morgan Rose)

    Journal of Real Estate Finance and Economics 68, no. 3 (April 2024): 523-575

    Abstract: In 2009, the Federal Reserve subjected nonbank mortgage-originating subsidiaries of bank holding companies (BHCs), but not independent nonbank (INB) mortgage originators, to consumer compliance supervision. We examine the effects of this regulatory change on the pricing and performance of nonbank originations using a sample of conventional, first-lien, amortizing mortgages originated between 2000 and 2015. We find that subsidiary nonbank (SNB) loans, which had a higher probability of default than INB mortgages prior to the policy change, had a lower probability of default following the change. In addition, we identify small but statistically significant decreases in loan interest rates and loan-to-value ratios for SNB mortgages relative to INB mortgages. When we split our sample into prime and subprime mortgages, we find those effects hold for prime mortgages. For subprime mortgages, after the policy change SNB originations had higher interest rates and lower LTV ratios than INB mortgages, with only weakly significant differences in probabilities of default. The findings are robust to several potential confounding effects, including those due to firm entries and exits. Our findings are consistent with BHCs reducing risk shifting in mortgage lending across subsidiaries following their heightened regulatory scrutiny.