Professor Moulton’s research interests include public policy implementation, evaluation and management. Moulton specializes in housing and consumer finance policies and programs implemented by federal, state and nonprofit organizations, with a focus on vulnerable populations.


Moulton is currently studying consumer decision-making regarding mortgages, and the role of public policy and program interventions to improve mortgage outcomes. She is the principal investigator on a randomized evaluation of financial planning interventions for low income homebuyers (with funding from the Social Security Administration’s Financial Literacy Research Consortium), and the principal investigator on a multi-phase analysis of the financial decision making of seniors considering reverse mortgages (with funding from the MacArthur Foundation and the U.S. Department of Housing and Urban Development). She also studies homeownership programs administered by state housing finance agencies (HFAs), including first-time homebuyer programs and foreclosure prevention initiatives.


Prior to her academic career, Moulton worked in the nonprofit sector, designing and managing asset building, homeownership, and community development programs at the local and state levels.


In addition to research and teaching at Ohio State University, Moulton is appointed to the Charitable Advisory Council to the Ohio Attorney General, provides policy and research assistance to the Ohio Housing Finance Agency and the Office of Affordable Housing Research, and is an appointed Research Affiliate to the Center for Financial Security at the University of Wisconsin, Madison.


Moulton received her Ph.D. in Public Affairs from the School of Public and Environmental Affairs at Indiana University.


Areas of research

  • Housing and consumer finance policy
  • Program implementation and evaluation
  • Public and nonprofit policy and management
Moulton, Stephanie and Jodi Sandfort. (Forthcoming). The Strategic Action Field Framework for Policy Implementation Research. Policy Studies Journal.

Moulton, Stephanie, Donald Haurin and Wei Shi. 2015. An Analysis of Default Risk in the Home Equity Conversion Mortgage (HECM) Program. Journal of Urban Economics (forthcoming) Click here to read the paper.

Moulton, Stephanie, J. Michael Collins, Cäzilia Loibl and Anya Samek. 2015. Effects of Monitoring on Mortgage Delinquency: Evidence From a Randomized Field Study. Journal of Policy Analysis and Management 34: 184-207.

Moulton, Stephanie and Emre Ergungor. 2014.Beyond The Transaction: Depository Institutions Reduced Mortgage Default for Low-Income Homebuyers. Journal of Money, Credit and Banking 46: 1721-1751.

Russell, Blair, Stephanie Moulton & Rob Greenbaum. 2014. Accessibility, Transaction Costs and the Take-up of Mortgage Assistance for Distressed Homeowners. Journal of Housing Economics. 24:57-74.

Moulton Stephanie, Caezilia Loibl, Anya Samak and Michael Collins. 2013. Borrowing Capacity and Financial Decisions of First-Time Homebuyers. Journal of Consumer Affairs 47(3): 375-403.

Miller, Susan and Stephanie Moulton. 2013. Publicness in Policy Environments: A Multi-Level Analysis of Substance Abuse Treatment Services. Journal of Public Administration Research and Theory.

Moulton, Stephanie. 2012. The Authority to do Good: Publicly Responsible Behavior Among Private Mortgage Lenders. Public Administration Review.72:3 (430-439).

Moulton, Stephanie and Adam Eckerd. 2012. Preserving the Publicness of the Nonprofit Sector: Resources, Roles and Public Values. Nonprofit and Voluntary Sector Quarterly.

Moulton, Stephanie and Barry Bozeman. 2011. The Publicness of Market Environments: An Evaluation of the Subprime Mortgage Lending Strategy. Journal of Public Administration Research and Theory. 21: 87-115.

Eckerd, Adam and Stephanie Moulton. 2011. Heterogeneous Roles and Heterogeneous Practices: Understanding the Adoption and Uses of Nonprofit Performance Evaluations. American Journal of Evaluation 32(1): 98-117.

Moulton, Stephanie and Charles Wise. 2010. Shifting Boundaries between Public and Private Sectors: Implications from the Economic Crisis. Public Administration Review 70(3): 349-360.

Moulton, Stephanie. 2010. Originating Lender Localness and Mortgage Sustainability: An Evaluation of Delinquency and Foreclosure in Indiana’s Mortgage Revenue Bond Program. Housing Policy Debate 20(4): 547-583.

Moulton, Stephanie. 2009. Putting Together the Publicness Puzzle: A Framework for Realized Publicness. Public Administration Review 69(5): 889-900.

Professor Stephanie Moulton and her colleagues Donald Haurin and Wei Shi in the Economics Department have a paper published in the Journal of Urban Economics, entitled "An analysis of default risk in the Home Equity Mortgage (HECM) program." The paper is the first to analyze default in the context of reverse mortgages, and has been instrumental to informing the creation of risk-based underwriting requirements for reverse mortgages enacted by HUD in April of 2015. The multi-year research project underlying the paper has been highlighted in various news outlets, including Investor Business Daily, The New York Times, and The Washington Post. Click here to read the paper.

Stephanie Moulton receives the Ohio State University's 2015 Alumni Award for Distinguished Teaching
Glenn School Associate Professor Stephanie Moulton is one of this year's winners of the Ohio State University's Alumni Award for Distinguished Teaching. The Alumni Award for Distinguished Teaching honors ten faculty members for superior teaching. Recipients are nominated by present and former students and colleagues and are chosen by a committee of alumni, students and faculty. As a part of winning the award Moulton will be inducted into the university's Academy of Teaching, which provides leadership for the improvement of teaching at Ohio State.

Professor Stephanie Moulton has a new book published. A unique approach to policy implementation with essential guidance and useful tools,“Cultivating Effective Implementation: The Practice of Integrating Policy and Management” presents an instrumental approach to implementation analysis. By spanning policy fields, organizations, and frontline conditions in implementation systems, this book provides a robust foundation for policy makers, public and nonprofit managers and leaders. » Click here to learn more.



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