Curriculum vitae

Department of Economics, Virginia Tech

Pamplin Hall (0316), Blacksburg, VA, 24061

Email:      Office: 540.231.5942  


Kwok Ping Tsang

January 11, 2017

Personal Information

  • Hong Kong (China) Citizen • US Permanent Resident.

 Current Positions

  • Associate Professor (with tenure), Department of Economics, Virginia Tech (August 2014 – ).
  • Assistant Professor, Department of Economics, Virginia Tech (August 2008 – July 2014).
  • Member, Economic Research Centre, Hong Kong Institute of Asia-Pacific Studies (January 2016 –).
  • Faculty Fellow, Global Forum on Urban and Regional Resilience, Virginia Tech (November 2016 –).

Visiting Positions

  • Visiting Scholar, Department of Economics, Hong Kong Baptist University (May – August 2016, May – August 2017).
  • Visiting Associate Professor, Department of Economics and Finance, City University of Hong Kong (July 2015  Jan 2016).
  • Visiting Assistant Professor, Department of Economics and Finance, City University of Hong Kong (June – August 2012, June – August 2013, June – August 2014).
  • Research Fellow, Hong Kong Institute for Monetary Research (December 2010, December 2011).
  • Postdoctoral Research Fellow, Hong Kong Institute for Monetary Research (December 2009 - January 2010, June - August 2009).
  • Visiting Scholar, Academia Sinica, Taipei, Taiwan (May 2009).


  • University of Washington, Seattle, WA: Ph.D. in Economics, 2008.  (Chair: Richard Startz).
  • University of Hong Kong, Hong Kong: Bachelor of Economics and Finance, 2003.

Research Interests

  • Macroeconomics, Housing Economics, International Finance.

 Courses Taught

  • Virginia Tech: Intermediate Macro (undergraduate); Managerial Economics (undergraduate); Macroeconomic Theory (graduate); Empirical Macro (graduate).
  • City University of Hong Kong: Macroeconomics for Business Strategy (undergraduate); Economics for Business (Non-economics graduate).
  • Hong Kong Baptist University: Monetary Economics (graduate).

 Peer-Reviewed Publications

  1. Sun, X. & Tsang, K.P. (2016): "The Impact of Monetary Policy on Local Housing Markets: Do Regulations Matter?" forthcoming at Empirical Economics.
  2. Sun, X. & Tsang, K.P. (2016): "What Drives the Owner-Occupied and Rental Housing Markets?  Evidence from an Estimated DSGE Model," forthcoming at Journal of Money, Credit and Banking.
  3. K.M. Wong & Tsang, K.P. (2016): "Does the Right to Choose Matter for Defined Contribution Plans?" forthcoming at Contemporary Economic Policy.
  4. Leung, C.K.Y., Leung, T.C. & Tsang, K.P. (2015): "Tax-driven Bunching of Housing Market Transactions: the Case of Hong Kong," International Real Estate Review, 18(4), 473-501. 
  5. Sun, X. & Tsang, K.P. (2014): "Optimal Interest Rate Rule in a DSGE Model with Housing Market Spillovers," Economics Letters, 125(1), 47-51.
  6. Dave, C. & Tsang, K.P. (2014): "Recursive Preferences, Learning and Large Deviations," Economics Letters, 124 (3), 329-334.
  7. Ashley, R. & Tsang, K.P. (2014): "Credible Granger-Causality Inference with Modest Sample Lengths: A Cross-Sample Validation Approach," Econometrics, 2(1), 72-91.
  8. Leung, T.C. & Tsang, K.P. (2013):"Anchoring and Loss Aversion in the Housing Market: Implications on Price Dynamics?" China Economic Review, 24, 42-54.
  9. Chen, Y. & Tsang, K.P. (2013):"What Does the Yield Curve Tell Us About Exchange Rate Predictability?" Review of Economics and Statistics, 95(1), 185–205. Online Appendix 
  10. Leung, T.C. & Tsang, K.P. (2013):"Can Anchoring and Loss Aversion Explain the Predictability in the Housing Market?" Pacific Economic Review, 18(1), 41-49.   
  11. Leung, T.C. & Tsang, K.P. (2012):"Love Thy Neighbor: Income Distribution and Housing Preferences" Journal of Housing Economics, 21(4), 322-335.
  12. Startz, R. & Tsang, K.P. (2012):"Non-Exponential Discounting: A Direct Test and Perhaps a New Puzzle" B.E. Journal of Macroeconomics (Topics), 12(1).
  13. Startz, R. & Tsang, K.P. (2010):"An Unobserved Components Model of the Yield Curve," Journal of Money, Credit and Banking, 42(8), 1613-1640.
  14. Lundberg, S., Romich, J.L. & Tsang, K.P. (2009):"Decision-making by Children," Review of Economics of the Household, 7(1), 1-30.
  15. Lundberg, S., Romich, J.L. & Tsang, K.P. (2009):"Independence Giving or Autonomy Taking? Childhood Predictors of Decision-Sharing Patterns Between Young Adolescents and Parents," Journal of Research on Adolescence, 19(4), 587-600.  

Invited Article

  • Tideman, N. & Tsang, K.P. (2010):"Seigniorage as a Source for a Basic Income Guarantee," Basic Income Studies, 5(2), Article 6.

Popular Press

  • Columnist for the Hong Kong Economic Journal, the Economic Journal Monthly, AM730, Initium Media, IPP Review.

University/ Departmental Service

  • 2014 – now      Director of Graduate Studies 
  • 2014 – 2017     Academic Support Committee, College of Science 
  • 2013 – now      Economics Representative to the Library
  • 2012 – 2014     Faculty Annual Review Committee, Department of Economics
  • 2012 – now      Graduate Admission Committee, Department of Economics
  • 2008 – now     Qualifying Examination Committee, Department of Economics

Editorial Responsibilities

  • Co-editor, Contemporary Economic Policy, 2014 –.
  • Associate editor, Asia-Pacific Journal of Accounting & Economics, 2016 –. 

Grants, Scholarships, and Awards

  • Faculty Development Scheme (under the Research Grants Council Competitive Research Funding Schemes for The Local Self-Financing Degree Sector) (Co-I), 2016, USD 100,000. 
  • Global Forum Summer Research Program, Virginia Tech, 2016, USD 15,000.
  • Graduate Course Faculty of the Year, Department of Economics, Virginia Tech, 2012 – 2013. 
  • Best paper award (3rd prize) at the 4th Annual Conference of the Global Chinese Real Estate Congress (GCREC) (Macau, China, July 3-5, 2012).
  • Co-investigator, CUHK Research Committee Funding (Direct Grant), 2012, “Anchoring and Loss Aversion in the Housing Market: Implications on Price Dynamics,” HKD 25,200.
  • Best Paper in Macroeconomics from the University of Washington (2006/2007).
  • James K. Hall Award from the University of Washington (2003/2004).


  • English (Fluent), Mandarin (Fluent), Cantonese (Native).