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Sau-Him Paul LAU

Professor in Economics

HKU Business School
The University of Hong Kong

Sau-Him Paul LAU

Professor in Economics
HKU Business School
The University of Hong Kong

Office: KK 1111
Tel.: (+852) 2857-8509
Email: laushp@hku.hk 

Biography

  • Sau-Him Paul Lau received BSocSc from the University of Hong Kong, MSc from the London School of Economics and PhD from the Stanford University. After teaching at the Texas A&M University, the Australian National University and the Hong Kong Baptist University, he joined The University of Hong Kong in 2000.  
  • Paul began his career with research interests in macroeconomics and growth. His work in providing microfoundations to staggered wage contracts widely observed in the United States and the United Kingdom has led him to develop a research interest in applied game theory. His interest in economic growth has helped him pursue research questions linking growth with time series econometrics. As a result, Paul has developed a unique research profile that combines macroeconomics and growth, applied game theory and time series econometrics.  
  • In recent years, Paul has extended his research interest in economic growth to issues related to population aging, including public annuities and effects of mortality decline on saving and retirement age. His work on game-theoretical analysis has also led him to collaborate with other co-authors to conduct experiments on social identity and cooperation in inter-group games.

Publications

Economics of population aging

  • "Economic-demographic dependency ratio in a life-cycle model," (co-authored with A. Tsui), Macroeconomic Dynamics, Vol. 24, No. 7 (October 2020), pp. 1635-1673. [PDF] 
  • "Mortality decline, retirement age and aggregate savings" (with Y. Chen), Macroeconomic Dynamics, Vol. 20, No. 3 (April 2016), pp. 715-736. [PDF]  [Appendix]  [Program & data files] 
  • "Mortality transition and differential incentives for early retirement" (with H. d'Albis and M. Sanchez-Romero), Journal of Economic Theory, Vol. 147, No. 1, January 2012, pp.261-283. [PDF]  [Program & data files] 
  • "Demographic structure and capital accumulation: A quantitative assessment", Journal of Economic Dynamics and Control, Vol. 33, No. 3, March 2009, pp.554-567. [PDF]  [Program & data files]

Empirical growth analysis

  • "Using an error-correction model to test whether endogenous long-run growth exists", Journal of Economic Dynamics and Control, Vol. 32, No. 2, 2008, pp.648-676. [PDF]
  • "I(0) in, integration and cointegration out: Time series properties of endogenous growth models", Journal of Econometrics, Vol. 93, November 1999, pp.1-24, (Lead article). [PDF] 
  • "Public infrastructure and economic growth: Time-series properties and evidence", (with C.-Y. Sin), Economic Record, Vol. 73, June 1997, pp.125-135, Reprinted in Transport Infrastructure (Classics in Transport Analysis Series, Volume 4), edited by Roger Stough, Roger Vickerman, Kenneth Button and Peter Nijkamp, Edward Elgar Press, 2002, pp. 175-185. [PDF]

Experimental economics

  • "Prior Interaction, Identity, and Cooperation in the Inter-Group Prisoner's Dilemma," (co-authored with T. Cason and V.-L. Mui), " Journal of Economic Behavior and Organization. Vol. 166 (October 2019), pp. 613-629. [PDF]
  • "Learning, teaching, and turn taking in the repeated assignment game" (with T. Cason and V.-L. Mui), Economic Theory, Vol. 54, No. 2, October 2013, pp.335-357. [PDF]
  • "Estimating a parsimonious model of inequality aversion in Stackelberg duopoly experiments" (with F. Leung), Oxford Bulletin of Economics and Statistics, Vol. 72, No. 5, October 2010, pp.669-686. [PDF]

Applied game-theoretic analysis

  • "Using turn taking to achieve intertemporal cooperation and symmetry in infinitely repeated 2 x 2 games" (with V.-L. Mui), Theory and Decision, Vol. 72, No. 2, February 2012, pp.167-188. [PDF]
  • "Aggregate pattern of time-dependent adjustment rules, II: Strategic complementarity and endogenous nonsynchronization", Journal of Economic Theory, Vol. 98, No. 2 , June 2001, pp.199-231, (Lead article). [PDF]
  • "Aggregate pattern of time-dependent adjustment rules, I: A game-theoretic analysis of staggered versus synchronised wage setting", Economic Journal, Vol. 106, November 1996, pp.1645-1658. [PDF]

Working Papers

  • "Using turn taking to achieve intertemporal cooperation and symmetry in infinitely repeated 2 x 2 games" (with V.-L. Mui), Theory and Decision, Vol. 72, No. 2, February 2012, pp.167-188. (This version: 2011). [PDF]
  • "Mortality decline, productivity increase, and positive feedback between schooling and retirement choices," (co-authored with Z. Cai and C. Y. K. Yuen), forthcoming in Journal of Demographic Economics. [PDF]
  • "A common thread linking the design of guarantee and non-escalating payments of public annuities," (co-authored with Q. Zhang). [PDF]
  • "Mandating public annuity purchase and banning gender-based pricing may unintentionally lead to advantageous selection," (co-authored with Y. Ying and Q. Zhang) . [PDF]

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