CredentialsB.Sc. (Sonoma), M.B.A. (Thunderbird), M.A., Ph.D. (UCLA).
Andrey D. Pavlov specializes in risk management for real estate investments, mortgages, and financial derivatives at the Beedie School of Business, Simon Fraser University, Vancouver, BC, where he is professor of finance. He has also worked on the modelling of aggressive lending practices, risk management for publicly traded real estate companies, and mortgage and equity securitization. He earned his Ph.D. from the Anderson School at the University of California, Los Angeles (1999) and was a visiting Associate Professor at the Wharton School, University of Pennsylvania during the 2006 – 2008 period. Since then he has continuously taught real estate finance for the Wharton Executive Education program. He is a fellow of the Ziman Real Estate Center at UCLA, a winner of the Homer Hoyt Advanced Studies Institute Best Dissertation Award (2000), and a post-doctoral honoree of the Homer Hoyt Advanced Studies Institute (2005). Professor Pavlov has a wide range of academic and industry-oriented publications. He has consulted for the Government of Canada, the Government of British Columbia, the Canadian Mortgage and Housing Corporation, the U.S. Financial Industry Regulatory Authority, the U.S. Department of Housing and Urban Development, and private sector insurers, mortgage lenders and hedge funds.
articles and reports
Shahryari Monfared, S., & Pavlov, A. D. (2019). Political risk affects real estate markets. Journal of Real Estate Finance & Economics, 58(1), 1-20. http://doi.org/10.1007/s11146-017-9619-y
Pavlov, A. D., & Somerville, T. (2018). Immigration, capital flows and housing prices. Real Estate Economics, 1-35. http://doi.org/10.1111/1540-6229.12267
Pavlov, A. D., Steiner, E., & Wachter, S. (2017). The consequences of REIT index membership for return patterns. Real Estate Economics, 46(1), 210-250. http://doi.org/10.1111/1540-6229.12202
Pavlov, A. D., Wachter, S., & Zevelev, A. A. (2016). Transparency in the mortgage market. Journal of Financial Services Research, 49(2/3), 265-280. http://doi.org/10.1007/s10693-014-0211-9
Davidson, A., Levin, A., Pavlov, A. D., & Wachter, S. M. (2016). Why are aggressive mortgage products bad for the housing market? Journal of Economics and Business, 84, 148-161. http://doi.org/10.1016/j.jeconbus.2016.02.007
Pavlov, A. D., Steiner, E., & Wachter, S. (2016). REIT capital structure choices: Preparation matters. Real Estate Economics, 46(1), 160-209. http://doi.org/10.1111/1540-6229.12155
Blazenko, G., Pavlov, A. D., & Yeung, W. H. (2015). Business investment and economic depreciation. Journal of Accounting, Finance and Economics, 5(1), 84-100.
Pavlov, A. D., Steiner, E., & Wachter, S. (2015). Macroeconomic risk factors and the role of mispriced credit in the returns from international real estate securities. Real Estate Economics, 43(1), 241-270. http://doi.org/10.1111/1540-6229.12084
Blazenko, G., Pavlov, A. D., & Eddy-Sumeke, F. (2012). New venture start-ups and technological innovation. International Journal of Managerial Finance, 8(1), 4-35. http://doi.org/10.1108/17439131211201013
Pavlov, A. D., & Wachter, S. (2011). Subprime lending and real estate prices. Real Estate Economics, 39(1), 1-17. http://doi.org/10.1111/j.1540-6229.2010.00284.x
Blazenko, G., & Pavlov, A. D. (2010). Investment timing for new business ventures. Journal of Entrepreneurial Finance, 15(1), 37-68.
Blazenko, G., & Pavlov, A. D. (2010). Value maximizing hurdle rates for R&D investment. Economics of Innovation & New Technology, 19(8), 693-717. http://doi.org/10.1080/10438590903003631
Blazenko, G., & Pavlov, A. D. (2009). Investment timing for dynamic business expansion. Financial Management, 38(4), 837-860. http://doi.org/10.1111/j.1755-053X.2009.01058.x
Wachter, S. M., Levitin, A. J., & Pavlov, A. D. (2009). Good and bad securitization. Wharton Real Estate Review.
Pavlov, A. D., & Wachter, S. (2009). Systemic risk and market institutions. Yale Journal on Regulation, 26(2), 445-455.
McCoy, P. A., Pavlov, A. D., & Wachter, S. (2009). Systemic risk through securitization: The result of deregulation and regulatory failure. Connecticut Law Review, 41(4), 1328-1373.
Pavlov, A. D., & Wachter, S. (2009). Mortgage put options and real estate markets. Journal of Real Estate Finance & Economics, 38(1), 86-103. http://doi.org/10.1007/s11146-008-9144-0
Pavlov, A. D., & Wachter, S. (2009). REITs and underlying real estate markets: Is there a link? Real Estate Economics.
Cauley, S. D., Pavlov, A. D., & Schwartz, E. (2007). Homeownership as a constraint on asset allocation. Journal of Real Estate Finance & Economics, 34(3), 283-311. http://doi.org/10.1007/s11146-007-9019-9
Pavlov, A. D., & Wachter, S. (2006). The inevitability of marketwide underpricing of mortgage default risk. Real Estate Economics, 34(4), 479496. http://doi.org/10.1111/j.1540-6229.2006.00175.x
Abraham, J. M., Pavlov, A. D., & Wachter, S. M. (2008). Explaining the United States' uniquely bad housing market. Wharton Real Estate Review, 12(2), 24-41.
books chapters and monographs
King, C. N., & Pavlov, A. D. (2012). Credit derivatives and the housing market. In Smith, S. J. (Eds.), The International Encyclopedia of Housing and Home (pp. 269-279). Oxford, United Kingdom: Elsevier Ltd (UK). http://doi.org/10.1016/B978-0-08-047163-1.00137-5
Wachter, S. M., Pavlov, A. D., & Pozsar, Z. (2008). Subprime lending and real estate markets. In Perrucci, S. (Eds.), Mortgage and real estate finance: Latest innovations and opportunities. London, United Kingdom: Risk Books.