Details about Charles Ka Yui Leung

Homepage:	https://www.cb.cityu.edu.hk/staff/kycleung/
Phone:	(852)-3442-9604
Postal address:	Department of Economics and Finance City University of Hong Kong Kowloon Tong Hong Kong
Workplace:	Department of Economics and Finance, College of Business, City University, (more information at EDIRC)

Access statistics for papers by Charles Ka Yui Leung.

Last updated 2024-10-03. Update your information in the RePEc Author Service.

Short-id: ple96

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Working Papers

2024

1. Icing on the cake: Can the Top-Floor Units serve as a status good and an investment simultaneously?
   MPRA Paper, University Library of Munich, Germany
   Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2024)
2. Real Estate Market: An Urban Perspective
   ISER Discussion Paper, Institute of Social and Economic Research, Osaka University

2023

3. Does Space Matter? The Case of the Housing Expenditure Cap
   ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
   Also in MPRA Paper, University Library of Munich, Germany (2023)
   See also Journal Article Does space matter? The case of the housing expenditure cap, Regional Science and Urban Economics, Elsevier (2024) (2024)
4. Hedonic Price Formation
   ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
   Also in MPRA Paper, University Library of Munich, Germany (2023)
5. Real Estate Market
   MPRA Paper, University Library of Munich, Germany
   Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2023)

2022

6. A Special Issue on Housing Affordability: An Introduction
   ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
   See also Journal Article A special issue on housing affordability: An introduction, Contemporary Economic Policy, Western Economic Association International (2023) View citations (2) (2023)
7. Corporate Real Estate Holding and Stock Returns: International Evidence from Listed Companies
   ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
   Also in MPRA Paper, University Library of Munich, Germany (2022)
8. Greenfield Foreign Direct Investment: Social Learning drives Persistence
   MPRA Paper, University Library of Munich, Germany View citations (2)
   Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2022) View citations (1)
   See also Journal Article Greenfield foreign direct investment: Social learning drives persistence, Journal of International Money and Finance, Elsevier (2022) View citations (1) (2022)
9. Housing and Macroeconomics
   MPRA Paper, University Library of Munich, Germany View citations (2)
   Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2022) View citations (1)

2021

10. Do Elite Colleges Matter? The Impact on Entrepreneurship Decisions and Career Dynamics
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit View citations (8)
    Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2021) View citations (8)
    See also Journal Article Do elite colleges matter? The impact on entrepreneurship decisions and career dynamics, Quantitative Economics, Econometric Society (2021) View citations (7) (2021)
11. Financial Conditions, Local Competition, and Local Market Leaders: The Case of Real Estate Developers
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit View citations (3)
    Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2021) View citations (3)
    See also Journal Article Financial conditions, local competition, and local market leaders: The case of real estate developers, Pacific Economic Review, Wiley Blackwell (2022) View citations (3) (2022)
12. Handbook of Real Estate and Macroeconomics: An Introduction
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University View citations (1)
    Also in GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2021)
13. How did the asset markets change after the Global Financial Crisis?
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit View citations (3)
    Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2021) View citations (3)
    See also Chapter How did the asset markets change after the Global Financial Crisis?, Chapters, Edward Elgar Publishing (2022) (2022)
14. The Dynamics of the House Price-to-Income Ratio: Theory and Evidence
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University View citations (1)
    Also in GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2021) View citations (1)
    See also Journal Article The dynamics of the house price‐to‐income ratio: Theory and evidence, Contemporary Economic Policy, Western Economic Association International (2023) View citations (2) (2023)

2020

15. Do Elite Colleges Matter? The Impact of Elite College Attendance on Entrepreneurship Decisions and Career Dynamics
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
16. When education policy and housing policy interact: Can they correct for the externalities?
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
    Also in GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2019) View citations (1)
    See also Journal Article When education policy and housing policy interact: Can they correct for the externalities?, Journal of Housing Economics, Elsevier (2020) View citations (9) (2020)
17. Why is the Hong Kong Housing Market Unaffordable? Some Stylized Facts and Estimations
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (2)
    Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2020) View citations (6)

2019

18. What do we know about Housing Supply? The case of Hong Kong
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
    Also in MPRA Paper, University Library of Munich, Germany (2019) View citations (4)
19. When education policy and housing policy interact: can we correct for the externalities?
    ERES, European Real Estate Society (ERES) View citations (3)

2018

20. Does an Oligopolistic Primary Market Matter? The Case of an Asian Housing Market
    MPRA Paper, University Library of Munich, Germany
21. Macro Aspects of Housing
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
    Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2018) View citations (5)
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2018)
    MPRA Paper, University Library of Munich, Germany (2018) View citations (6)

2017

22. Flipping in the Housing Market
    MPRA Paper, University Library of Munich, Germany View citations (35)
    Also in Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2017) View citations (29)
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2017) View citations (33)
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2017)
    See also Journal Article Flipping in the housing market, Journal of Economic Dynamics and Control, Elsevier (2017) View citations (34) (2017)
23. Global Financial Integration, Real Estate Security Returns and Financial Crisis
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
24. What account for the differences in rent-price ratio and turnover rate? A search-and-matching approach
    MPRA Paper, University Library of Munich, Germany View citations (3)
    Also in ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2017) View citations (1)
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
    See also Journal Article What Accounts for the Differences in Rent-Price Ratio and Turnover Rate? A Search-and-Matching Approach, The Journal of Real Estate Finance and Economics, Springer (2018) View citations (7) (2018)

2016

25. The Deep Historical Roots of Macroeconomic Volatility
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University View citations (2)
    Also in Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2016) View citations (2)
    Economics Discussion / Working Papers, The University of Western Australia, Department of Economics (2014)
    See also Journal Article The Deep Historical Roots of Macroeconomic Volatility, The Economic Record, The Economic Society of Australia (2016) View citations (2) (2016)

2015

26. Do bank loans and local amenities explain Chinese urban house prices
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University View citations (40)
    Also in MPRA Paper, University Library of Munich, Germany (2015) View citations (40)
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2015) View citations (30)
    See also Journal Article Do bank loans and local amenities explain Chinese urban house prices?, China Economic Review, Elsevier (2015) View citations (40) (2015)
27. Losing track of the asset markets: the case of housing and stock
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University View citations (2)
    See also Journal Article Losing Track of the Asset Markets: the Case of Housing and Stock, International Real Estate Review, Global Social Science Institute (2016) View citations (7) (2016)
28. The Role of Sponsor and External Management on the Capital Structure of Asian-Pacific REITs: The Case of Australia, Japan, and Singapore
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
    Also in MPRA Paper, University Library of Munich, Germany (2014)
    See also Journal Article The Role of Sponsors and External Management on the Capital Structure of Asian-Pacific REITs: The Case of Australia, Japan, and Singapore, International Real Estate Review, Global Social Science Institute (2016) (2016)

2014

29. Availability, Affordability and Volatility: the case of Hong Kong Housing Market
    MPRA Paper, University Library of Munich, Germany View citations (5)
    See also Journal Article Availability, Affordability and Volatility: The Case of the Hong Kong Housing Market, International Real Estate Review, Global Social Science Institute (2015) View citations (16) (2015)
30. Borrowing Constraints, College Aid, and Intergenerational Mobility
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (24)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (28)
    MPRA Paper, University Library of Munich, Germany (2014) View citations (23)
    See also Journal Article Borrowing Constraints, College Aid, and Intergenerational Mobility, Journal of Human Capital, University of Chicago Press (2014) View citations (24) (2014)
31. Comparing Consumption-based Asset Pricing Models: The Case of an Asian City
    MPRA Paper, University Library of Munich, Germany
    See also Journal Article Comparing consumption-based asset pricing models: The case of an Asian city, Journal of Housing Economics, Elsevier (2015) View citations (20) (2015)
32. Error Correction Dynamics of House Prices: an Equilibrium Benchmark
    MPRA Paper, University Library of Munich, Germany View citations (38)
    Also in Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2014) View citations (31)
    See also Journal Article Error correction dynamics of house prices: An equilibrium benchmark, Journal of Housing Economics, Elsevier (2014) View citations (38) (2014)
33. Tax-driven Bunching of Housing Market Transactions: The case of Hong Kong
    MPRA Paper, University Library of Munich, Germany View citations (1)
    See also Journal Article Tax-driven Bunching of Housing Market Transactions: The Case of Hong Kong, International Real Estate Review, Global Social Science Institute (2015) View citations (12) (2015)

2013

34. Commodity house prices
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (11)
    Also in MPRA Paper, University Library of Munich, Germany (2013) View citations (14)
    See also Journal Article Commodity house prices, Regional Science and Urban Economics, Elsevier (2013) View citations (11) (2013)
35. Return enhancing, cash-rich or simply empire-building? An empirical investigation of corporate real estate holdings
    MPRA Paper, University Library of Munich, Germany
    See also Journal Article Return Enhancing, Cash-rich or simply Empire-Building? An Empirical Investigation of Corporate Real Estate Holdings, International Real Estate Review, Global Social Science Institute (2014) View citations (4) (2014)
36. Speculating China economic growth through Hong Kong? Evidence from the stock market IPO and real estate markets
    MPRA Paper, University Library of Munich, Germany View citations (2)
    See also Journal Article Speculating China Economic Growth through Hong Kong? Evidence from Stock Market IPOs and Real Estate Markets, International Real Estate Review, Global Social Science Institute (2015) View citations (4) (2015)
37. The Market Valuation of Interior Design and Developers strategies: a simple Theory and some Evidence
    MPRA Paper, University Library of Munich, Germany View citations (2)
    See also Journal Article The Market Valuation of Interior Design and Developer Strategies: A Simple Theory and Some Evidence, International Real Estate Review, Global Social Science Institute (2014) View citations (8) (2014)

2012

38. Flippers in Housing Market Search
    2012 Meeting Papers, Society for Economic Dynamics View citations (5)
39. In the shadow of the United States: the international transmission effect of asset returns
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (4)
    Also in MPRA Paper, University Library of Munich, Germany (2011) View citations (3)
    See also Journal Article In the Shadow of the U nited S tates: The International Transmission Effect of Asset Returns, Pacific Economic Review, Wiley Blackwell (2013) View citations (19) (2013)
40. Intellectual property rights, technical progress and the volatility of economic growth
    MPRA Paper, University Library of Munich, Germany View citations (15)
    See also Journal Article Intellectual property rights, technical progress and the volatility of economic growth, Journal of Macroeconomics, Elsevier (2012) View citations (15) (2012)
41. Public Housing Units vs. Housing Vouchers: Accessibility, Local Public Goods, and Welfare
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (26)
    Also in MPRA Paper, University Library of Munich, Germany (2012) View citations (19)
    Koç University-TUSIAD Economic Research Forum Working Papers, Koc University-TUSIAD Economic Research Forum (2010) View citations (5)
    See also Journal Article Public housing units vs. housing vouchers: Accessibility, local public goods, and welfare, Journal of Housing Economics, Elsevier (2012) View citations (26) (2012)

2011

42. Comparing two financial crises: the case of Hong Kong real estate markets
    MPRA Paper, University Library of Munich, Germany View citations (26)
43. Financial Crisis and the Comovements of Housing Sub-markets: Do relationships change after a crisis?
    MPRA Paper, University Library of Munich, Germany View citations (17)
    See also Journal Article Financial Crisis and the Co-movements of Housing Sub-markets: Do relationships change after a crisis?, International Real Estate Review, Global Social Science Institute (2013) View citations (7) (2013)
44. The Dynamics of Housing Returns in Singapore: How Important are the International Transmission Mechanisms?
    MPRA Paper, University Library of Munich, Germany View citations (7)
    See also Journal Article The dynamics of housing returns in Singapore: How important are the international transmission mechanisms?, Regional Science and Urban Economics, Elsevier (2012) View citations (30) (2012)
45. What Drives Fixed Asset Holding and Risk-Adjusted Performance of Corporate in China? An Empirical Analysis
    MPRA Paper, University Library of Munich, Germany View citations (7)
    See also Journal Article What Drives Fixed Asset Holding and Risk- Adjusted Performance of Corporates in China? An Empirical Analysis, International Real Estate Review, Global Social Science Institute (2012) View citations (11) (2012)
46. “Fire Sales” in housing market: is the house-searching process similar to a theme park visit?
    MPRA Paper, University Library of Munich, Germany View citations (13)

2010

47. House Market in Chinese Cities: Dynamic Modeling, In-Sampling Fitting and Out-of-Sample Forecasting
    MPRA Paper, University Library of Munich, Germany View citations (4)
48. Real Estate, the External Finance Premium and Business Investment: A Quantitative Dynamic General Equilibrium Analysis
    MPRA Paper, University Library of Munich, Germany View citations (10)
49. Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements
    MPRA Paper, University Library of Munich, Germany
    See also Journal Article Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements, Regional Science and Urban Economics, Elsevier (2011) View citations (28) (2011)
50. WOULD SOME MODEL PLEASE GIVE ME SOME HINTS? AN EMPIRICAL INVESTIGATION ON MONETARY POLICY AND ASSET RETURN DYNAMICS
    ERES, European Real Estate Society (ERES) View citations (4)

2009

51. Monetary Policy, Term Structure and Asset Return: Comparing REIT, Housing and Stock
    MPRA Paper, University Library of Munich, Germany View citations (4)
    See also Journal Article Monetary Policy, Term Structure and Asset Return: Comparing REIT, Housing and Stock, The Journal of Real Estate Finance and Economics, Springer (2011) View citations (66) (2011)

2008

52. Does the DiPasquale-Wheaton Model Explain the House Price Dynamics in China Cities?
    Working Papers, Hong Kong Institute for Monetary Research View citations (3)
53. Intra-metropolitan Price and Trading Volume Dynamics: Evidence from Hong Kong
    Finance Working Papers, East Asian Bureau of Economic Research View citations (3)

2006

54. Are the markets for factories and offices integrated? Evidence from Hong Kong?
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (1)
    Also in Discussion Papers, Chinese University of Hong Kong, Department of Economics (2006) View citations (1)
    See also Journal Article Are the Markets for Factories and Offices Integrated? Evidence from Hong Kong, International Real Estate Review, Global Social Science Institute (2006) View citations (1) (2006)

2005

55. Equilibrium Correlation of Asset Price and Return
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (1)
    Also in Discussion Papers, Chinese University of Hong Kong, Department of Economics (2005) View citations (2)
    See also Journal Article Equilibrium Correlations of Asset Price and Return, The Journal of Real Estate Finance and Economics, Springer (2007) View citations (50) (2007)
56. Growth volatility and technical progress: a simple rent-seeking model
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics
    Also in Discussion Papers, Chinese University of Hong Kong, Department of Economics (2005) View citations (2)
    See also Journal Article Growth Volatility and Technical Progress: A Simple Rent-seeking Model, Journal of Economics, Springer (2006) View citations (13) (2006)
57. Housing Price Dispersion: An Empirical Investigation
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (16)
    Also in Discussion Papers, Chinese University of Hong Kong, Department of Economics (2005) View citations (2)
    See also Journal Article Housing Price Dispersion: An Empirical Investigation, The Journal of Real Estate Finance and Economics, Springer (2006) View citations (71) (2006)
58. Intrinsic Cycles of Land Price: A Simple Model
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (1)
    Also in Discussion Papers, Chinese University of Hong Kong, Department of Economics (2005)
    See also Journal Article Intrinsic Cycles of Land Price: A Simple Model, Journal of Real Estate Research, American Real Estate Society (2006) View citations (17) (2006)
59. The Construction and Related Industries in a Changing Socio-Economic Environment: The case of Hong Kong„X
    Discussion Papers, Chinese University of Hong Kong, Department of Economics View citations (2)
    See also Journal Article The Construction and Related Industries in a Changing Socio-Economic Environment: The Case of Hong Kong, International Real Estate Review, Global Social Science Institute (2004) View citations (3) (2004)

2004

60. Housing, Capital Investment, and Credit Market Imperfections
    2004 Meeting Papers, Society for Economic Dynamics View citations (1)
61. Macroeconomics and Housing: A Review of the Literature
    Discussion Papers, Chinese University of Hong Kong, Department of Economics View citations (177)
    Also in Departmental Working Papers, Chinese University of Hong Kong, Department of Economics (2004) View citations (176)
    See also Journal Article Macroeconomics and housing: a review of the literature, Journal of Housing Economics, Elsevier (2004) View citations (173) (2004)
62. Structural Break or Asymmetry? An Empirical Study of the Stock Wealth Effect on Consumption
    Econometric Society 2004 Far Eastern Meetings, Econometric Society
63. Testing Alternative Theories of Property Price-Trading Volume with Commercial Real Estate Market Data
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (1)
    Also in Discussion Papers, Chinese University of Hong Kong, Department of Economics (2004)

2003

64. Institutions, Technical Change and Macroeconomic Volatility, Crises and Growth: A Robust Causation
    Economics Discussion / Working Papers, The University of Western Australia, Department of Economics View citations (5)
65. The Dynamics and Volatility of Commercial and Residential Property Prices: Theory and Evidence
    IEAS Working Paper : academic research, Institute of Economics, Academia Sinica, Taipei, Taiwan
    Also in Departmental Working Papers, Chinese University of Hong Kong, Department of Economics (2002) View citations (5)
    See also Journal Article The Dynamics and Volatility of Commercial and Residential Property Prices: Theory and Evidence*, Journal of Regional Science, Wiley Blackwell (2004) View citations (57) (2004)

2002

66. Redistribution through Education and Other Transfer Mechanisms
    Royal Economic Society Annual Conference 2002, Royal Economic Society View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (5)
    See also Journal Article Redistribution through education and other transfer mechanisms, Journal of Monetary Economics, Elsevier (2003) View citations (51) (2003)

2000

67. Inflation and Capital Gains Taxes in a Small Open Economy
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (6)
    See also Journal Article Inflation and capital gains taxes in a small open economy, International Review of Economics & Finance, Elsevier (2000) View citations (6) (2000)
68. The Dynamics of Output Growth and Property Prices: Theory and Evidence
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (1)

1999

69. Capital Gains and Inflation Taxes in a Life-cycle Model
    Staff Working Papers, Bank of Canada View citations (1)
70. Price Volatility of Commercial and Residential Property
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (1)
    See also Journal Article Price Volatility of Commercial and Residential Property, The Journal of Real Estate Finance and Economics, Springer (2000) View citations (10) (2000)

1998

71. Fixed Cost, Saving and Technology Choice
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (1)
72. Income Tax, Property Tax and Tariff in a Small Open Economy
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (2)
    See also Journal Article Income Tax, Property Tax, and Tariff in a Small Open Economy, Review of International Economics, Wiley Blackwell (1999) View citations (14) (1999)

1997

73. Redistribution through Education: The case of pure material cost
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (1)

1996

74. Convergence, Endogenous Growth, and Productivity Disturbances
    Departmental Working Papers, Chinese University of Hong Kong, Department of Economics View citations (17)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1996) View citations (18)
    See also Journal Article Convergence, endogenous growth, and productivity disturbances, Journal of Monetary Economics, Elsevier (1996) View citations (17) (1996)

Journal Articles

2024

1. Corporate Real Estate Holding and Stock Returns: Testing Alternative Theories with International Listed Firms
   The Journal of Real Estate Finance and Economics, 2024, 68, (1), 74-102
2. Does space matter? The case of the housing expenditure cap
   Regional Science and Urban Economics, 2024, 104, (C)
   See also Working Paper Does Space Matter? The Case of the Housing Expenditure Cap, ISER Discussion Paper (2023) (2023)

2023

3. A special issue on housing affordability: An introduction
   Contemporary Economic Policy, 2023, 41, (1), 7-8 View citations (2)
   See also Working Paper A Special Issue on Housing Affordability: An Introduction, ISER Discussion Paper (2022) (2022)
4. The dynamics of the house price‐to‐income ratio: Theory and evidence
   Contemporary Economic Policy, 2023, 41, (1), 61-78 View citations (2)
   See also Working Paper The Dynamics of the House Price-to-Income Ratio: Theory and Evidence, ISER Discussion Paper (2021) View citations (1) (2021)

2022

5. Financial conditions, local competition, and local market leaders: The case of real estate developers
   Pacific Economic Review, 2022, 27, (2), 131-193 View citations (3)
   See also Working Paper Financial Conditions, Local Competition, and Local Market Leaders: The Case of Real Estate Developers, GRU Working Paper Series (2021) View citations (3) (2021)
6. Greenfield foreign direct investment: Social learning drives persistence
   Journal of International Money and Finance, 2022, 126, (C) View citations (1)
   See also Working Paper Greenfield Foreign Direct Investment: Social Learning drives Persistence, MPRA Paper (2022) View citations (2) (2022)

2021

7. Do elite colleges matter? The impact on entrepreneurship decisions and career dynamics
   Quantitative Economics, 2021, 12, (4), 1347-1397 View citations (7)
   See also Working Paper Do Elite Colleges Matter? The Impact on Entrepreneurship Decisions and Career Dynamics, GRU Working Paper Series (2021) View citations (8) (2021)

2020

8. What do we know about housing supply? The case of Hong Kong SAR
   Economic and Political Studies, 2020, 8, (1), 6-20 View citations (18)
9. When education policy and housing policy interact: Can they correct for the externalities?
   Journal of Housing Economics, 2020, 50, (C) View citations (9)
   See also Working Paper When education policy and housing policy interact: Can they correct for the externalities?, ISER Discussion Paper (2020) (2020)

2018

10. What Accounts for the Differences in Rent-Price Ratio and Turnover Rate? A Search-and-Matching Approach
    The Journal of Real Estate Finance and Economics, 2018, 57, (3), 431-475 View citations (7)
    See also Working Paper What account for the differences in rent-price ratio and turnover rate? A search-and-matching approach, MPRA Paper (2017) View citations (3) (2017)

2017

11. Flipping in the housing market
    Journal of Economic Dynamics and Control, 2017, 76, (C), 232-263 View citations (34)
    See also Working Paper Flipping in the Housing Market, MPRA Paper (2017) View citations (35) (2017)
12. Special issue on housing and financial stability: An introduction
    Pacific Economic Review, 2017, 22, (3), 273-275 View citations (2)

2016

13. Losing Track of the Asset Markets: the Case of Housing and Stock
    International Real Estate Review, 2016, 19, (4), 435-492 View citations (7)
    See also Working Paper Losing track of the asset markets: the case of housing and stock, ISER Discussion Paper (2015) View citations (2) (2015)
14. The Deep Historical Roots of Macroeconomic Volatility
    The Economic Record, 2016, 92, (299), 568-589 View citations (2)
    See also Working Paper The Deep Historical Roots of Macroeconomic Volatility, ISER Discussion Paper (2016) View citations (2) (2016)
15. The Role of Sponsors and External Management on the Capital Structure of Asian-Pacific REITs: The Case of Australia, Japan, and Singapore
    International Real Estate Review, 2016, 19, (2), 197-221
    See also Working Paper The Role of Sponsor and External Management on the Capital Structure of Asian-Pacific REITs: The Case of Australia, Japan, and Singapore, ISER Discussion Paper (2015) (2015)

2015

16. Availability, Affordability and Volatility: The Case of the Hong Kong Housing Market
    International Real Estate Review, 2015, 18, (3), 383-428 View citations (16)
    See also Working Paper Availability, Affordability and Volatility: the case of Hong Kong Housing Market, MPRA Paper (2014) View citations (5) (2014)
17. Comparing consumption-based asset pricing models: The case of an Asian city
    Journal of Housing Economics, 2015, 28, (C), 18-41 View citations (20)
    See also Working Paper Comparing Consumption-based Asset Pricing Models: The Case of an Asian City, MPRA Paper (2014) (2014)
18. Do bank loans and local amenities explain Chinese urban house prices?
    China Economic Review, 2015, 34, (C), 19-38 View citations (40)
    See also Working Paper Do bank loans and local amenities explain Chinese urban house prices, ISER Discussion Paper (2015) View citations (40) (2015)
19. Speculating China Economic Growth through Hong Kong? Evidence from Stock Market IPOs and Real Estate Markets
    International Real Estate Review, 2015, 18, (1), 45-87 View citations (4)
    See also Working Paper Speculating China economic growth through Hong Kong? Evidence from the stock market IPO and real estate markets, MPRA Paper (2013) View citations (2) (2013)
20. Tax-driven Bunching of Housing Market Transactions: The Case of Hong Kong
    International Real Estate Review, 2015, 18, (4), 473-501 View citations (12)
    See also Working Paper Tax-driven Bunching of Housing Market Transactions: The case of Hong Kong, MPRA Paper (2014) View citations (1) (2014)

2014

21. Borrowing Constraints, College Aid, and Intergenerational Mobility
    Journal of Human Capital, 2014, 8, (1), 1 - 41 View citations (24)
    See also Working Paper Borrowing Constraints, College Aid, and Intergenerational Mobility, RCER Working Papers (2014) View citations (24) (2014)
22. Error correction dynamics of house prices: An equilibrium benchmark
    Journal of Housing Economics, 2014, 25, (C), 75-95 View citations (38)
    See also Working Paper Error Correction Dynamics of House Prices: an Equilibrium Benchmark, MPRA Paper (2014) View citations (38) (2014)
23. Return Enhancing, Cash-rich or simply Empire-Building? An Empirical Investigation of Corporate Real Estate Holdings
    International Real Estate Review, 2014, 17, (3), 301-357 View citations (4)
    See also Working Paper Return enhancing, cash-rich or simply empire-building? An empirical investigation of corporate real estate holdings, MPRA Paper (2013) (2013)
24. The Market Valuation of Interior Design and Developer Strategies: A Simple Theory and Some Evidence
    International Real Estate Review, 2014, 17, (1), 63-107 View citations (8)
    See also Working Paper The Market Valuation of Interior Design and Developers strategies: a simple Theory and some Evidence, MPRA Paper (2013) View citations (2) (2013)

2013

25. Commodity house prices
    Regional Science and Urban Economics, 2013, 43, (6), 875-887 View citations (11)
    See also Working Paper Commodity house prices, Globalization Institute Working Papers (2013) View citations (11) (2013)
26. Financial Crisis and the Co-movements of Housing Sub-markets: Do relationships change after a crisis?
    International Real Estate Review, 2013, 16, (1), 68-118 View citations (7)
    See also Working Paper Financial Crisis and the Comovements of Housing Sub-markets: Do relationships change after a crisis?, MPRA Paper (2011) View citations (17) (2011)
27. In the Shadow of the U nited S tates: The International Transmission Effect of Asset Returns
    Pacific Economic Review, 2013, 18, (1), 1-40 View citations (19)
    See also Working Paper In the shadow of the United States: the international transmission effect of asset returns, Globalization Institute Working Papers (2012) View citations (4) (2012)

2012

28. INTRODUCTION: DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM MODELLING AND THE STUDY OF ASIA-PACIFIC ECONOMIES
    Pacific Economic Review, 2012, 17, (2), 204-207 View citations (1)
29. Intellectual property rights, technical progress and the volatility of economic growth
    Journal of Macroeconomics, 2012, 34, (3), 749-756 View citations (15)
    See also Working Paper Intellectual property rights, technical progress and the volatility of economic growth, MPRA Paper (2012) View citations (15) (2012)
30. Public housing units vs. housing vouchers: Accessibility, local public goods, and welfare
    Journal of Housing Economics, 2012, 21, (4), 310-321 View citations (26)
    See also Working Paper Public Housing Units vs. Housing Vouchers: Accessibility, Local Public Goods, and Welfare, RCER Working Papers (2012) View citations (26) (2012)
31. The dynamics of housing returns in Singapore: How important are the international transmission mechanisms?
    Regional Science and Urban Economics, 2012, 42, (3), 516-530 View citations (30)
    See also Working Paper The Dynamics of Housing Returns in Singapore: How Important are the International Transmission Mechanisms?, MPRA Paper (2011) View citations (7) (2011)
32. What Drives Fixed Asset Holding and Risk- Adjusted Performance of Corporates in China? An Empirical Analysis
    International Real Estate Review, 2012, 15, (2), 141-164 View citations (11)
    See also Working Paper What Drives Fixed Asset Holding and Risk-Adjusted Performance of Corporate in China? An Empirical Analysis, MPRA Paper (2011) View citations (7) (2011)

2011

33. "Fire Sales" in Housing Market: Is the House- Search Process Similar to a Theme Park Visit?
    International Real Estate Review, 2011, 14, (3), 311-329 View citations (24)
34. House Market in Chinese Cities: Dynamic Modeling, In0 Sample Fitting and Out-of- Sample Forecasting
    International Real Estate Review, 2011, 14, (1), 85-117 View citations (15)
35. Monetary Policy, Term Structure and Asset Return: Comparing REIT, Housing and Stock
    The Journal of Real Estate Finance and Economics, 2011, 43, (1), 221-257 View citations (66)
    See also Working Paper Monetary Policy, Term Structure and Asset Return: Comparing REIT, Housing and Stock, MPRA Paper (2009) View citations (4) (2009)
36. Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements
    Regional Science and Urban Economics, 2011, 41, (3), 293-304 View citations (28)
    See also Working Paper Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements, MPRA Paper (2010) (2010)

2010

37. STOCK PRICE VOLATILITY, NEGATIVE AUTOCORRELATION AND THE CONSUMPTION–WEALTH RATIO: THE CASE OF CONSTANT FUNDAMENTALS
    Pacific Economic Review, 2010, 15, (2), 224-245 View citations (5)

2008

38. Asset Price Spillover, Collateral and Crises: with an Application to Property Market Policy
    The Journal of Real Estate Finance and Economics, 2008, 37, (4), 351-385 View citations (47)
39. Intra-metropolitan Office Price and Trading Volume Dynamics: Evidence from Hong Kong
    International Real Estate Review, 2008, 11, (2), 47-74 View citations (1)
40. The link between institutions, technical change and macroeconomic volatility
    Journal of Macroeconomics, 2008, 30, (4), 1520-1549 View citations (7)

2007

41. An Examination of the Chinese Housing Market through the Lens of the DiPasquale- Wheaton Model: a Graphical Attempt
    International Real Estate Review, 2007, 10, (2), 131-165 View citations (18)
42. Equilibrium Correlations of Asset Price and Return
    The Journal of Real Estate Finance and Economics, 2007, 34, (2), 233-256 View citations (50)
    See also Working Paper Equilibrium Correlation of Asset Price and Return, Departmental Working Papers (2005) View citations (1) (2005)
43. On the Stability of the Implicit Prices of Housing Attributes: A Dynamic Theory and Some Evidence
    International Real Estate Review, 2007, 10, (2), 66-93 View citations (7)
44. Special issue on macroeconomics, regulation, and housing introduction
    Journal of Housing Economics, 2007, 16, (2), 99-101 View citations (7)

2006

45. Are the Markets for Factories and Offices Integrated? Evidence from Hong Kong
    International Real Estate Review, 2006, 9, (1), 62-94 View citations (1)
    See also Working Paper Are the markets for factories and offices integrated? Evidence from Hong Kong?, Departmental Working Papers (2006) View citations (1) (2006)
46. Growth Volatility and Technical Progress: A Simple Rent-seeking Model
    Journal of Economics, 2006, 88, (2), 159-178 View citations (13)
    See also Working Paper Growth volatility and technical progress: a simple rent-seeking model, Departmental Working Papers (2005) (2005)
47. Housing Price Dispersion: An Empirical Investigation
    The Journal of Real Estate Finance and Economics, 2006, 32, (3), 357-385 View citations (71)
    See also Working Paper Housing Price Dispersion: An Empirical Investigation, Departmental Working Papers (2005) View citations (16) (2005)
48. Intrinsic Cycles of Land Price: A Simple Model
    Journal of Real Estate Research, 2006, 28, (3), 293-320 View citations (17)
    Also in Journal of Real Estate Research, 2006, 28, (3), 293-320 (2006)
    See also Working Paper Intrinsic Cycles of Land Price: A Simple Model, Departmental Working Papers (2005) View citations (1) (2005)

2005

49. What Drives the Property Price-Trading Volume Correlation? Evidence from a Commercial Real Estate Market
    The Journal of Real Estate Finance and Economics, 2005, 31, (2), 241-255 View citations (35)

2004

50. A note on globalization and urban residential rents
    Journal of Urban Economics, 2004, 56, (3), 505-513 View citations (16)
51. Macroeconomics and housing: a review of the literature
    Journal of Housing Economics, 2004, 13, (4), 249-267 View citations (173)
    See also Working Paper Macroeconomics and Housing: A Review of the Literature, Discussion Papers (2004) View citations (177) (2004)
52. The Construction and Related Industries in a Changing Socio-Economic Environment: The Case of Hong Kong
    International Real Estate Review, 2004, 7, (1), 139-170 View citations (3)
    See also Working Paper The Construction and Related Industries in a Changing Socio-Economic Environment: The case of Hong Kong„X, Discussion Papers (2005) View citations (2) (2005)
53. The Dynamics and Volatility of Commercial and Residential Property Prices: Theory and Evidence*
    Journal of Regional Science, 2004, 44, (1), 95-123 View citations (57)
    See also Working Paper The Dynamics and Volatility of Commercial and Residential Property Prices: Theory and Evidence, IEAS Working Paper : academic research (2003) (2003)

2003

54. ECONOMIC GROWTH AND INCREASING HOUSE PRICES
    Pacific Economic Review, 2003, 8, (2), 183-190 View citations (17)
55. Redistribution through education and other transfer mechanisms
    Journal of Monetary Economics, 2003, 50, (8), 1719-1750 View citations (51)
    See also Working Paper Redistribution through Education and Other Transfer Mechanisms, Royal Economic Society Annual Conference 2002 (2002) View citations (5) (2002)

2002

56. Increasing Wealth and Increasing Instability: The Role of Collateral
    Review of International Economics, 2002, 10, (1), 45-52 View citations (21)
57. TOM: Why Isn’t Price Enough?
    International Real Estate Review, 2002, 5, (1), 91-115 View citations (14)
58. Testing Alternative Theories of the Property Price-Trading Volume Correlation
    Journal of Real Estate Research, 2002, 23, (3), 253-264 View citations (65)
    Also in Journal of Real Estate Research, 2002, 23, (3), 253-264 (2002)
59. Unemployment and vacancy in the Hong Kong labour market
    Applied Economics Letters, 2002, 9, (4), 221-229 View citations (6)

2001

60. Productivity growth, increasing income inequality and social insurance: the case of China?
    Journal of Economic Behavior & Organization, 2001, 46, (4), 395-408 View citations (4)
61. Relating International Trade to the Housing Market
    Review of Development Economics, 2001, 5, (2), 328-335 View citations (11)
62. Technology Choice and Saving in the Presence of a Fixed Adoption Cost
    Review of Development Economics, 2001, 5, (1), 40-48 View citations (5)

2000

63. Inflation and capital gains taxes in a small open economy
    International Review of Economics & Finance, 2000, 9, (3), 195-208 View citations (6)
    See also Working Paper Inflation and Capital Gains Taxes in a Small Open Economy, Departmental Working Papers (2000) View citations (6) (2000)
64. Price Volatility of Commercial and Residential Property
    The Journal of Real Estate Finance and Economics, 2000, 20, (1), 25-36 View citations (10)
    See also Working Paper Price Volatility of Commercial and Residential Property, Departmental Working Papers (1999) View citations (1) (1999)

1999

65. Income Tax, Property Tax, and Tariff in a Small Open Economy
    Review of International Economics, 1999, 7, (3), 541-54 View citations (14)
    See also Working Paper Income Tax, Property Tax and Tariff in a Small Open Economy, Departmental Working Papers (1998) View citations (2) (1998)

1996

66. Convergence, endogenous growth, and productivity disturbances
    Journal of Monetary Economics, 1996, 38, (3), 535-547 View citations (17)
    See also Working Paper Convergence, Endogenous Growth, and Productivity Disturbances, Departmental Working Papers (1996) View citations (17) (1996)

1995

67. Does non-traded input necessarily deepen the international non-diversification puzzle I?: The one-good case
    Economics Letters, 1995, 49, (3), 281-285 View citations (7)
68. Educated guesses and income distribution
    Economics Letters, 1995, 48, (2), 173-177 View citations (6)

Chapters

2022

1. How did the asset markets change after the Global Financial Crisis?
   Chapter 12 in Handbook of Real Estate and Macroeconomics, 2022, pp 312-336
   See also Working Paper How did the asset markets change after the Global Financial Crisis?, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2021) View citations (3) (2021)