I am an Assistant Professor of Finance at the University of Hong Kong. I received my PhD in Finance from MIT Sloan in 2015.

I teach Fixed Income Securities (MFIN7012) for the Master of Finance program at the University of Hong Kong.

My research interests include Asset Pricing, Credit Risk, International Finance, Labor and Macro-Finance. Please find my papers below.


KK Leung 1012

Faculty of Business and Economics

University of Hong Kong




Office number:

+852  2857 8515



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Time-varying Risk Premium and Unemployment Risk Across Age Groups [link]

Internet Appendix [link]

Joint with Indrajit Mitra

Forthcoming, Review of Financial Studies

Blog summary [link]

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads [link]

Internet Appendix [link]

Joint with Hui Chen and Jun Yang

Forthcoming, Journal of Financial Economics

Working papers

Limited Household Risk Sharing: General Equilibrium Implications for the Term Structure of Interest Rates [link]

Joint with Indrajit Mitra

This version: December 2019

Illiquidity in Sovereign Debt Markets [link]

Joint with Juan Passadore

This version: August 2019

Revise and resubmit, Journal of International Economics

Domestic Banking Fragility and Sovereign Debt Capacity [link]

This version: September 2017