Department of Economics & Finance
AACSB International EQUIS - European Quality Improvement System

2020 Summer Workshop: The post-crisis housing market and financial stability: Recovery without Affordability?

July 9-10, 2020
City University of Hong Kong, Hong Kong

Venue: Video Conferencing

Organized by Global Research Unit at Department of Economics and Finance, City University of Hong Kong

Call for Papers

Program Updated 2 July 2020

Registration form for general participants 

(Registration for Speakers/CityU Communities/HKMA Staff)

Papers and Presentation Slides



Global Research Unit, City University of Hong Kong

About the Workshop

The world economy is recovering from the Global Financial Crisis (GFC). The housing price and rent have not become more affordable. There are plenty of media reports on the "housing unaffordability issues" in the United States, UK, China, Taiwan, Singapore, Hong Kong, etc. We, therefore, would like to put together a collection of academic research to investigate this issue. More specifically, this workshop would like to shed light on the following questions:

Has the housing affordability worsened? 

What cause changes in housing affordability?

Can monetary policy (conventional or unconventional) and fiscal policy improve the housing affordability? Is it possible to improve the housing affordability without compromising the original goals of monetary and fiscal policies?

What is the implication of macroprudential policies for housing affordability? 

How to improve housing affordability through mortgage policies? 

We welcome not only academic researchers but also researchers from central banks, international organizations to participate. We hosted a related workshop in 2016, and the format of the 2020 workshop would be similar. 

The deadline for submission is February 28, 2020

You can send your paper to , with the subject “2020 07 workshop.”

Contemporary Economic Policy (CEP), which is an official journal of the Western Economic Association International (WEAI), and is listed for both "Economics" and "Public Administration" in SSCI, has agreed to publish a special issue (SI) on Affordability and Financial Stability. The SI will consider submissions on related themes, including but not restricted to papers presented in the workshop.  

The deadline for submission is September 2020. We seek to get quick referee turnover, and so the authors would receive the reports by December 2020. We intend to finalize all manuscripts before May 2021, publish the SI in 2021.

Organizing Committee

Charles Leung, City University of Hong Kong

List of Participants


Global Research Unit:


We thank the Hung Hing Ying and Leung Hau Ling Charitable Foundation (孔慶熒及梁巧玲慈善基金) for their support through the Hung Hing Ying Chair Professorship of International Economics (孔慶熒講座教授(國際經濟)).

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