Research

PUBLICATIONS

• “Measuring the Energy-related Uncertainty Index”, (2023) with Canh Phuc Nguyen (UEH), Tam Hoang-Nhat Dangm(UEH), Binh Quang Nguyen (UEH), and Thuy Thu Le (UEH) (in Energy Economics, Online version) Vol.  124 August·          

  •    Energy-Related Uncertainty Indexes at https://www.policyuncertainty.com/energy_uncertainty.html

  •    Updated the Index at this site

•   “The prices of residential land in German Counties” (2021) with Stefanie Braun (Univ. of Regensburg)  in Regional Science and Urban Economics, Vol. 89, 103676 

  • Land Price Data at the county level

• “Uncertainty, Financial Development, and FDI Inflows:  Global Evidence” (2021) with Canh Phuc Nguyen   (Univ of Economics, HCMC) in Economic Modelling, Vol. 99, June, 105473 

• “On the Measure of Private Rent Regulation Index and Its Effects on Housing Rents: Cross-Country Evidence”, (2020) with Jan Philip Weber, in  International Journal of Housing Markets and Analysis, Vol. 13 No. 4, pages. 635-659. 

  • Data File: https://www.remain-data.org/data

• “Risk Shocks with Time-Varying Higher Moments”, (2020)  with Victor Dorofeenko (I.H.S.), Johannes Strobel (Univ of Frankfurt), and Kevin Salyer (Univ. of California, Davis). in Studies in Nonlinear Dynamics & Econometrics, Vol 24, Issue 2, 20180028, ISSN 1558-3708, DOI: https://doi.org/10.1515/snde-2018-0028.

•  "A New Measure of Real Estate Uncertainty Shocks" (2020) with Binh Nguyen-Thanh (R.M.I.T.) and Johannes Strobel (Univ of Frankfurt), in Real Estate Economics, Vol 48(3), Pages 744-771

  • Real Estate Uncertainty Index (U.S.) from 1970 - 2020

•  “Effects of Macroeconomic Uncertainty and Labor Demand Shocks on the Housing Market”, (2020) with Johannes Strobel (Univ of Frankfurt) and Binh Nguyen-Thanh (R.M.I.T.) in Real Estate Economics. Vol 48(2), Pages 345-372

• “Agency Costs and Investment Behavior in the Euro Area and in the U.S.”, (2018) with Johannes Strobel (Univ of Frankfurt), and Kevin Salyer (Univ of California, Davis). Journal of Asian Business and Economic Studies, Vol. 25 Issue: 1, pp.122-143

• “Risk Shocks and Housing Supply: A Quantitative Analysis”, (2014), with Kevin Salyer, (Univ. of California, Davis) and Victor Dorofeenko (I.H.S.), Journal of Economic Dynamics and Control, (45), page.194-219

•  "Housing and Macroeconomy for European Countries: The Role of Credit Channel, Risk - and Monetary Shocks", (2012)  with Kevin Salyer (Univ of California, Davis) and Victor Dorofeenko (I.H.S.),:  In Search of New paradigm in Housing Policy after the Global Financial Crisis, Vol. 2, page 166 – 201, edited by The Korean Development Institute.

• "A Legal and Economic Analysis of Entry and Competition for German Notary Profession", (2012) with Christoph Schmid (ZERP, Univ. Bremen), European Economic Commission Report.

• “Rationale Erklärungen für Immobilienpreis-Bubbles: Die Auswirkungen von Risikoschocks auf die Hauspreisvolatilität und die Volatilität von Investitionen in Wohnimmobilien“, (2011), with Kevin Salyer, (Univ. of California, Davis) and Victor Dorofeenko (I.H.S.), Perspektiven der Wirtschaftspolitik, Vol. 12, Issue 2, pages 151 – 169.

•  “A New Algorithm for Solving Dynamic Stochastic Macroeconomic Models”, (2010), with Kevin Salyer, (Univ. of California, Davis) and Victor Dorofeenko (I.H.S.), Journal of Economic Dynamics and Control, vol. 34(3), pages 388-403

•  “Time Varying Uncertainty and the Credit Channel”, (2008), with Kevin Salyer, Univ. of California, Davis and Victor Dorofeenko, I.H.S., Bulletin of Economic Research, 60:4, pg. 375-403 

•  “Effects of Securities Transaction Taxes on Depth and Bid-Ask Spread”, (2007), with Dominique Dupont, Univ. of Twente, The Netherlands, Economic Theory, Vol. 31. No. 2.

•   “Endowment Effect, Status Quo Bias, and Loss Aversion: Rational Alternative Explanation”, (2002),  with Dominique Dupont, Univ. of Twente, The Netherlands, Vol. 25:1; page 87–101, Journal of Risk and Uncertainty

•   “Austrian Housing Demand and Demography: Is there a Connection?” (2001)  with B. Felderer, C. Helmenstein, and P. Schmidt-Dengler, Empirica, vol. 28, page. 259-276,

  • Also appeared in Vienna Yearbook of Population Research (2003), Publisher: Austrian Academy of Science, page. 35 – 50, 2003.

• “Marktbewertung und Liquidität“, (2000), with I. Fortin and C. Helmenstein, Wirtschaftspolitische Blätter,  Nr. 4, pg. 455-463.

• “Housing Cycles and the Period of Production”, (1999), Applied Economics, vol. 31, , pg. 1219-1230

•  “Housing Investment Dynamics, Period of Production, and Adjustment Cost”, (1999), Journal of Housing Economics, vol. 8, no.1, pg. 1-25.

• "Structural versus Nonstructural Vector Autoregression Models of Agricultural Prices and Exports," (1991), with Wiktor Adamowicz  and Glen Armstrong (Univ of Alberta) Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 39(4), pages 755-756.

SELECTED WORKING PAPERS          

• “Export Diversification and Energy Consumption Efficiency: Non-linear Evidence”, (2023) with Canh Phuc Nguyen (UEH) (submitted to Energy Journal)

•  “On the Cross Country Private Rent Regulation Index”, (2021) with Jan Philip Weber, Working Paper University of Regensburg.

• "Agglomeration  Spillover  Effects in  German Land  and  House Prices at  the City  and  County Levels " (2021) BGPE Discussion Paper No. 207, with Stefanie Braun.

•   “A New Measure of Economic Policy Uncertainty Index for Developing Countries: Case for Vietnam” (2021) with Nguyen Phuc Canh (Univ of Economics, HCMC)

•  “Time-Varying Risk Shocks and the Zero Lower Bound” (2019) with Johannes Strobel (Univ of Frankfurt), Victor Dorofeenko (I.H.S.) and Kevin Salyer (Univ. of California, Davis).

• Effects of Anticipated and Unanticipated Risk Shocks in a Model of Financial Intermediations: Inspecting the Mechanism” (2019) with Johannes Strobel (Univ of Frankfurt), and Kevin Salyer. (Univ. of California, Davis).

• “On the Importance of Risk Shocks for Aggregate Fluctuations”, (2018)  with Johannes Strobel(Univ of Frankfurt), and Kevin Salyer (Univ. of California, Davis), Working Paper No. 34641, University of Regensburg

• “Dynamic Uncertainty, Agency Costs and Aggregate Fluctuations”, (2017) with Johannes Strobel (Univ of Frankfurt), and Kevin Salyer. (Univ. of California, Davis) Working Paper No. 34637, University of Regensburg

•  “Uncertainty and Housing in a New Keynesian Monetary Model with Agency Costs”, (2017) with Victor Dorofeenko (IHS), Johannes Strobel (Univ of Frankfurt), and Kevin Salyer (Univ. of California, Davis), University of Regensburg Working Paper.

  • “Housing and Macroeconomy: The Role of Credit Channel, Risk - Demand - and Monetary Shocks”, (2016)  with Victor Dorofeenko (IHS), Johannes Strobel (Univ of Frankfurt), and Kevin Salyer (Univ. of California, Davis), Working Paper No. 34639, University of Regensburg

•   “Legal Restrictions on Portfolio Holdings: Some Empirical Results ”, (with Jarka Hlouskova), Aug., 2002 , IHS working paper

•  “Czech and Hungarian Index Options Under Jump”, (with M.Boss and C. Klisz), Aug., 2002, IHS working paper

CHAPTERS IN BOOKS

• Lee, Gabriel / Möller, Joachim (2005, 2020): „Stadtökonomie" in Broecker, Johannes / Fritsch, Michael / Junkernheinrich (Hrsg.) „Ökonomische Geographie -- Eine Einführung", München, 2006, 2020

•  Lee, Gabriel (2005): Wohnimmobilienmärkte in Schulte et al (Hrsg.) „Immobilienökonomie -- Volkswirtschaftliche Grundlagen - Band IV", München, 2006

PROJECTS/RESEARCH GRANTS/CONSULTING

·       „Monetary Policy and Risk Shocks“, Research Grant Nr. 16555: Jubiläumsfonds at the Austrian National Bank, September 2014 – 2017. (€85 000)

·       "Wohnimmobilienmärkte - Makroökonomie, Finanzintermediation und Geldpolitik: Theorie und Empririscher Nachweis für die USA und Europa", DFG: LE 1545/1-1, July 2013 – July 2016. (€195 000)

·       “Der Einfluss von Heterogenität, Unsicherheit und dem Hypothekenmarkt auf den Wohnungsmarkt und den Wirtschaftszyklus“, (with Kevin Salyer at Univ. of California, Davis, and Victor Dorofeenko, IHS, Vienna). Research Grant Nr. 13040: Jubiläumsfonds at the Austrian National Bank, September 2008. (€80 000)

·        “Conveyancing Services Regulation in Europe” with Christoph Schmid (Centre of European Law and Politics, University of Bremen (ZERP)), Steffen Sebastian (International Real Estate Business School, University of Regensburg), Iain Paterson (Institute for Advanced Studies (IHS), and Marcel Fink (University of Vienna). European Commission – DG Competition, Brussels, September 2006. (€65 000)

·       “Crash States, Business Cycles and Welfare States: Theory and Empirical for the U.S. and Europe”,  (with Kevin Salyer at Univ. of California, Davis, and Victor Dorofeenko, IHS, Vienna). Research Grant Nr. 11042: Jubiläumsfonds at the Austrian National Bank, December 2004. (€65 000)

·       “Economic Growth, Inflationary Pressure and Government Policies: Lessons to be Learned from Japan” with Emilio Espino (I.H.S.), Walter H. Fisher (I.H.S.) and David Andolfatto (Simon Fraser University), Research Grant Nr. 10331: Jubiläumsfonds at the Austrian National Bank, September 2003. (€65 000)

·       “Financial Intermediation, Increasing Returns Real Business Cycles: Theory and Evidence Across E.U.”, (with Kevin Salyer at Univ. of California, Davis). Research Grant Nr. 9220: Jubiläumsfonds at the Austrian National Bank, July 2001. (€60 000)

·       “Behavioral Finance”. Studie im Auftrag des Verein zur Förderung der interdisziplinären Finanzmarktanalyse (with Helmenstein, Fortin, Weinberger, Kossmeier). May 2000 – June 2001. (€3 000)

·   “Die Entwicklung der regionalen Wohnraumnachfrage in Österreich” (The Development of Regional Housing Demand in Austria) (with B. Felderer, C. Helmenstein, P. Schmidt-Dengler). Studie im Auftrag des Bundesministerium für wirtschaftliche Angelegenheiten (Consulting Project for the Ministry of Economic Affairs, Austria), June, 1999 (€15 000)

·       “Gesamtwirtschaftliche Effekte der österreichischen Börseninfrastruktur” (Effects of Austrian Stock Market on Austrian Economy), (with Christian Helmenstein, Ines Fortin). Studie im Auftrag des Wr. Börse (Consulting Project for the Vienna Stock Exchange), June 1999 (€5 000)