Anson Zhou


I am an Assistant Professor of Economics at the University of Hong Kong

My research interests include Macroeconomics, Labor Economics, and Family Economics

Before joining HKU in Fall 2023, I was a postdoc fellow in Long-Term Fiscal Policy at the National Bureau of Economic Research (NBER). I obtained a Ph.D. in Economics from the University of Wisconsin-Madison. I have been a member of the Human Capital and Economic Opportunity Working Group (HCEO) since 2021.

CV You can find my CV here

Contact: zhouls [at]


The Macroeconomic Consequences of Family Policies (under revision) Job market paper  [This version: December 2022] 

Revise and Resubmit, Review of Economic Studies

This paper studies the macroeconomic consequences of family policies in a heterogeneous-agent OLG economy featuring the quantity-quality trade-off and Social Security.

Asymmetric Fertility Elasticities, with Sam Engle and Chong Pang [This version: April 2024] (slides)

Is it more difficult for policymakers to raise fertility than to reduce it? If so, what are the macro implications, and what could be the micro-foundation? 

Teachers and the Evolution of Aggregate Inequality [This version: May 2024] 

With endogenous human capital formation, what are the dynamic impacts of teacher selection on inequality and intergenerational mobility?


Bounding Fertility Elasticities

Economics Letters, Volume 228, July 2023 (link to Working paper version)

Journal of Monetary Economics, Volume 129, 1-20, July 2022 (link to NBER Working Paper)

Staying at Home: Mobility Effects of COVID-19, with Sam Engle and John Stromme

Covid Economics: Vetted and Real-Time Papers, Issue 4, 86-102, April 2020 (link to County-level data, VoxEU article)


Inequality, Human Capital, and Marketization of Home Production


"Transforming Institutions: Labor Reallocation and Wage Growth in a Reunified Germany" (PHBS, December 2023)

by Sebastian Findeisen, Sang Yoon (Tim) Lee, Tommaso Porzio, Wolfgang Dauth