St. Louis Fed Research Director, Co-authors Selected for Edwin Mills Best Paper Award

ST. LOUIS – A research paper co-authored by Carlos Garriga, research director of the Federal Reserve Bank of St. Louis, and two colleagues was selected for the prestigious 2023 Edwin Mills Best Paper Award by The American Real Estate and Urban Economics Association (AREUEA).

The paper, “The Economic Effects of Real Estate Investors,” was published in Real Estate Economics and written by Garriga, Pedro Gete, professor of finance and real estate at IE University in Spain, and Athena Tsouderou, assistant professor of finance at the University of Miami Herbert Business School, AREUEA announced this month.

“This prestigious recognition from AREUEA is a true testament to the value of our work and the dedication of our team,” Garriga said. “We're incredibly grateful to the editors of Real Estate Economics and the selection committee for their consideration. We're excited to continue researching into the area of real estate investors and comprehending the fascinating complexities of the real estate market.”

The researchers examined the impact of small and medium-sized real estate investors on housing and rent prices compared with large Wall Street landlords.