Pok-Sang Lam

Associate Professor
Faculty

Pok-sang Lam received his Ph. D. from Harvard University in 1986. He joined the faculty at the Ohio State University in 1985, and is now an associate professor.  His research has been published in journals including The American Economic Review, The Quarterly Journal of Economics, The Journal of Finance, The Journal of Monetary Economics, and The International Economic Review. This research spans four areas. The first area is the macroeconomics of consumer durables. This work studies the behaviors of durable and nondurable expenditures under resale and credit market imperfections.  The second area is asset prices and returns. This work studies the ability of the consumption-based asset pricing model to explain the level, volatility and predictability of asset returns. It highlights the importance of beliefs that are random and distorted. The third area is the Markov-Switching time series model. This work develops algorithms to estimate the model via maximum likelihood. It also implements the model to study business cycle and financial market dynamics. The fourth area is portfolio choice. This work examines empirically how labor market risk affects adversely the consumer desire to invest in risky assets. 

He was a visiting assistant professor at Stanford University from 1988 to 1990. He was a visiting scholar at the Federal Reserve Bank of Minneapolis in summer 1995, and the Federal Reserve Bank of New York in summer 1999. He taught an intensive course in macroeconomics at Wuhan University (China) in September 2008. He has been editor of the Journal of Money, Credit, and Banking since 2006. He is currently serving as a senator the College of Arts and Sciences at the Ohio State University.

 

Vita

Areas of Expertise
  • Consumer Durables
  • Aggregate Asset Pricing
  • Markov-Switching Model
  • Portfolio Choice
Education
  • Bachelor of Social Sciences, The Chinese University of Hong Kong, July 1981
  • Ph.D., Harvard University, June 1986

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