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Jaime P. Luque is Associate Professor of Economics at ESCP Europe (Madrid campus), where he holds the BNP Paribas Professorship in Real Estate. Prior to joining ESCP in July 2018, he was an Assistant Professor of Real Estate at the University of Wisconsin-Madison School of Business.
Jaime’s main academic research applies general equilibrium theory to financial and real estate markets. He has conducted research on the consequence of repo and rehypothecation on security pricing and market pressures. This line of research evolved towards the understanding of leverage dynamics, security bubbles, anomalies in currency markets, and banks’ portfolio rebalancing in sovereign debt crises.
Jaime has also investigated different issues related to housing affordability, including subprime mortgage lending, Tax Increment Financing (TIF), Low Income Housing Tax Credits (LIHTC), and mixed income communities. His book Affordable Housing Development published by Springer provides insights and practical demonstration of important financial tools often necessary to the financial feasibility of affordable housing projects, including TIF and LIHTC.
Jaime’s research has been published in journals such as Journal of Economic Theory, Journal of Public Economics, Economic Theory, Real Estate Economics, and Regional Science and Urban Economics. He has also written opinion pieces for the Financial Times, Expansion, La Repubblica, and the Huffington Post, as well as for the Vox.eu, Eurointelligence and The Conversation economics op-ed sites.
Jaime's teaching specializations include real estate finance, real estate economics, urban economics, and macroeconomics. He has taught in the MBA, MSc and BBA programs. Jaime is the recipient of the 2017 Ideas Worth Teaching Award by The Aspen Institute Business and Society Program for his educational innovations to address affordable housing development.

Financial Markets
International Finance


LUQUE, J. (2013), Heterogeneous Tiebout Communities with Private Production and Anonymous Crowding, REGIONAL SCIENCE AND URBAN ECONOMICS.
FAIAS, M. and J. LUQUE (2017), Endogenous Formation of Security Exchanges, ECONOMIC THEORY, 64 (2), 331–355.
LUQUE, J. (2018), Assessing the Role of TIF and LIHTC in an Equilibrium Model of Affordable Housing Development, REGIONAL SCIENCE AND URBAN ECONOMICS, in press.
BOTTAZZI, J. M., LUQUE, J. and M. PASCOA (2012), Securities Market Theory: Possession, Repo and Re-hypothecation, JOURNAL OF ECONOMIC THEORY.
LUQUE, J. (2014), Wages, Local Amenities, and the Rise of the Multi-skilled City, ANNALS OF REGIONAL SCIENCE.
LUQUE, J. and A. TAAMOUTI (2014), Did the Euro Change the Effect of Fundamentals on Growth and Uncertainty?, B.E. JOURNAL OF MACROECONOMICS.
LUQUE, J., MORELLI, M. and J. TAVARES (2014), A Volatility-based Theory of Fiscal Union Desirability, JOURNAL OF PUBLIC ECONOMICS, Leading article.
FAIAS, M. and J. LUQUE (2017), Cross-listed Securities and Multiple Exchange Memberships, B.E. JOURNAL OF THEORETICAL ECONOMICS, 18 (1).
LUQUE, J. (2017), Cross-border Residential Lending: Theory and Evidence from the European Sovereign Debt Crisis, REAL ESTATE ECONOMICS, in press.
DOKOW, E. and J. LUQUE (2018), Provision of Local Public Goods in Mixed Income Communities, JOURNAL OF HOUSING ECONOMICS, in press.


LUQUE, J. (2015), Urban Land Economics, Springer.
LUQUE, J. (2017), The Subprime Crisis: Lessons for Business Students, World Scientific.
LUQUE, J. (2017), Rays of Research on Real Estate Development, Business Expert Press.
LUQUE, J., IKROMOV, N. and W. NOSEWORTHY (2019), Affordable Housing Development: Financial Feasibility, Tax Increment Financing and Tax Credits, Springer.

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