Byoungchan Lee

Assistant Professor

Department of Economics

Hong Kong University of Science and Technology

Curriculum Vitae: (PDF)


Hong Kong Junior Macro Group: Link


  • "A Guide to Autoregressive Distributed Lag Models for Impulse Response Estimations," (with ChaeWon Baek), 2022. Oxford Bulletin of Economics and Statistics, 0305-9049. Link (PDF, Online Appendix, Code).

Previous versions circulated under the titles “Model Selection and Impulse Responses with Single Equation Regressions” and “ABCs of Understanding Single Equation Regressions.”

A previous version circulated under the title “A Note on Variance Decomposition with Local Projections,” NBER Working Paper No. 23998, November 2017.

Working Papers

  • "Wealth Inequality, Aggregate Consumption, and Macroeconomic Trends under Incomplete Markets," revise and resubmit at American Economic Journal: Macroeconomics. (PDF, Online Appendix).

  • "Wealth Inequality and Endogenous Growth," in preparation for the Carnegie-Rochester-NYU Conference on Public Policy 2022. (PDF).

This paper subsumes previous papers circulated under the titles "Price-Cost Markup Cyclicality: New Evidence and Implications'' and "Business Cycles with Input Complementarity."
  • "Business Cycles and Earnings Inequality." (PDF, Appendix).

  • "A Three-Factor Model of the Earnings Distribution." (PDF).

Work in Progress

  • "Diagnostic Expectations in Housing Price Dynamics," (with Zhenghua Qi).

  • "Endogenous Wedges in the Aggregate Euler Equation due to Wealth Inequality."

Publications in Korean

  • "A Dynamic Analysis of Income Composition and Transition in Korea," (with Jae-Young Kim), 2013. Korean Economic Journal (경제논집) 52(2), 119-144.