Principal Economist
Division of International Finance
Federal Reserve Board
Washington, DC 20551
Welcome to my personal website. I am a Principal Economist in the Division of International Finance of the Federal Reserve Board. My main area of research is macroeconomics, focusing on investment dynamics over the business cycle. Prior to joining the Federal Reserve Board, I was an Assistant Professor of Economics at Vanderbilt University. I received my B.A. degree from Seoul National University and my Ph.D. from Columbia University.
PUBLISHED AND FORTHCOMING PAPERS
"In search of dominant drivers of the real exchange rate" Review of Economics and Statistics, forthcoming (with Wataru Miyamoto and Thuy Lan Nguyen).
Link | Appendix | Replication files
"Time to build and the real-options channel of residential investment" Journal of Financial Economics, 135, 255-269, January 2020 (with Chamna Yoon).
Link | Appendix | Replication files
"The role of durables replacement and second-hand markets in a business-cycle model" Journal of Money, Credit and Banking, 51(4), 761-786, June 2019.
Link | Appendix | Replication files
"What do inventories tell us about news-driven business cycles?" Journal of Monetary Economics, 79, 49-66, May 2016 (with Nicolas Crouzet).
Link | Working paper | Working paper appendix
"Targeted transfers and the fiscal response to the great recession" Journal of Monetary Economics, 59, S50-S64, December 2012 (with Ricardo Reis).
Link | Appendix | Replication files | Working paper | VoxEU
WORKING PAPERS
"Land development and frictions to housing supply over the business cycle" February 2024 (with Choongryul Yang and Chamna Yoon).
Link | Appendix | FRB-FEDS"Computerizing households and the role of investment-specific productivity in business cycles" May 2020 (with Seunghoon Na).
Link | Appendix | FRB-IFDP
"Early 20th century American exceptionalism: Production, trade and diffusion of the automobile" June 2022 (with Dong Cheng, Mario Crucini, and Hakan Yilmazkuday).
Link | VoxEU
"The effective interest rate lower bound in a small open economy: The case of Korea" October 2018 (with Young-Kwan Kang).