Household Consumption and Inequality

Has Consumption Inequality Mirrored Income Inequality: New Evidence from a Korean Household Panel (with S. Kwon), Applied Economics Letters, forthcoming.

New Evidence on Excess Sensitivity of Household Consumption (with Y. Seol), Journal of Monetary Economics, 2014, vol. 63, 80-94.

An Empirical Analysis of the Substitutability between Private Consumption and Government Purchases, Journal of Monetary Economics, December 1995 vol. 36, 593-605.

Scaling Factors in Estimation of Time-Nonseparable Utility Functions, Review of Economics and Statistics, May 1997, 234-240.

Oil Price Shocks and Macroeconomy

Long-Term Oil Price Forecasts: A New Perspective on Oil and the Macroeconomy (with I. Miller), Macroeconomic Dynamics, 2011, vol. 15 (S3), 396-415.

working paper version

On the Dynamic Effects of Oil Price Shocks - A Study Using Industry Level Data (with K. Lee), Journal of Monetary Economics, June 2002, 823-852.

Oil and Macroeconomy-the Role of Price Variability (with K. Lee and R. Ratti), Energy Journal, December 1995 vol.16, 39-56. working paper version

Models of Economic Growth and Uncertainty

Heterogeneous Investor Information and the Timing of Investment under Uncertainty (with R. Ratti), Economics-ejournal, November 2009.

High Corruption Income in Ming and Qing China (with V. Pham), Journal of Development Economics, 2006, vol. 81, 316-336. working paper version

Price Uncertainty and Consumer Welfare in an Intertemporal Setting (with N. Raymon), Journal of Economic Dynamics and Control, July 2004, vol.28, 1877-1901. working paper version

National Debt, Savings, and Real Interest Rates in a Neoclassical Growth Model, Canadian Journal of Economics, November 1999 pp1227-44.

Costly Structural Changes and Optimal Growth (with X. Wang), Economic Theory , June 1995, vol.6, 305-322.

A Model of Structural Breaks in Economic Growth (with X. Wang), Structural Change and Economic Dynamics, June 1996, vol. 7, 223-241.

Human Capital and Income Taxation in an Endogenous Growth Model, (with X. Wang), Journal of Macroeconomics, 1994, vol. 16, 493-507.

Balanced Government Budgets versus Deficit Finance in a Growth Economy (with X. Wang), Canadian Journal of Economics, November 1995, vol.28, 1120-1134.

Government Land Policy and Housing Price

Why Doesn't the Hong Kong Government Sell More Public Land? (with S. Aura and F. Cheung), Frontiers of Economics in China, 2016, vol. 11, 367-389.

working paper version

Estimating Estate-Specific Price-to-Rent Ratios in Shanghai and Shenzhen (with J. Chen), International Real Estate Review, 2011, vol. 14, 208-239.

working paper version

Consumption, Housing Rents, and Housing Price: A Test of a Real Estate Pricing Model Using Hong Kong Data (with F. Cheung and A. Siu),

Pacific Economic Review, February 2003, vol.8, 31-45.