Working Papers
Inflation Scar and Expectations Formation (Revising, with Seunghee Lee (KDI))
US Monetary Policy, Exchange Rates, and Delayed Portfolio Adjustments (with Sangyup Choi(Yonsei) and Jongho Park(Soongsil), R&R at Journal of Economic Dynamics and Control)
When Green Finance Slows the Green Transition: Capital Regulation and the Innovation Margin (Recipient of NRF Research Grant 2025-26)
Value Sovereignty and the Limits of Democratic Delegation (2nd round minor revision requested at Politics and Policy (Scopus \& ESCI (Q2 in Political Science and International Relations)))
Publications
Gini in the Taylor Rule: Should the FED Care About Inequality?, BE Journal of Macroeconomics, 25 (1), with Eunseong Ma [SSRN] [DOI]
Does population aging affect fiscal response to government debt?, Applied Economics Letters, 33 (15). [DOI]
Unveiling the Natural Yield Curve: Estimation and Policy Implications from the Case of Korea, Applied Economics, Vol. 58, Issue 12, with Kyeongtak Do (BOK) [DOI]
An Aging Population and Sustainable Government Debt: The Case of Korea, Journal of Asian Economics, Vol. 95, Dec. 2024 [DOI]
Do more frequent price adjustments guarantee less effective monetary stimulus when uncertainty rises?, Journal of Macroeconomics, Vol.78, Dec. 2023 [DOI]
(supercedes the previous paper titled 'Uncertainty, Attention Allocation and Monetary Policy Asymmetry') [DOI] [BOK Working Paper 2019-5 version]
Endogenous Uncertainty and Monetary Policy, Macroeconomic Dynamics, Vol.28, Issue 2, with Shinhyuck Kang [DOI] [SSRN]
Macroeconomic Impacts of COVID-19 and Universal Transfer Programs: The Case of Korea, Global Economic Review, Vol.51, Issue.4, 2022 [DOI] [SSRN]
External Information and Fiscal Multipliers, Korean Economic Review, Vol.39, No.2, with Byung Ho Lee [Journal Link] [SSRN]
Central Bank Credibility and Monetary Policy, International Journal of Central Banking, Vol.19, Num2, 2023. [Journal Link] [BOK Working Paper 2018-45 version]
The Excess Sensitivity of Long-term Interest rates and Central Bank Credibility, Economic Modelling, Vol.106, Jan., 2022. [DOI] [BOK Working Paper 2020-29 version]
Identifying Government Spending Shocks and Multipliers in Korea , Journal of Asian Economics, Vol.76, Oct., 2021, with Eun kyung Lee
[DOI] [BOK Working Paper 2019-22 version] [Korean Fiscal News Shocks (1991-2018, monthly)]
Inflation Persistence in Korea, Economic Analysis (경제분석), 2012, with Taejung Kim and Kumhwa Oh, Vol.18, No.3, in Korean
Work in Progress
Demographic Dynamics, Inequality, and Fiscal Space
Demographic Changes and Monetary Policy (with Yongsoo Kim (BOK))
Expectations, Stabilization, and Communication (with Seunghyeon Lee (BOK))
Equity Duration and the Asset-Price Transmission of Monetary Policy (with Chengzhi Fu (Sogang))
When Inflation Stops Identifying the Natural Rate: Monetary Policy in Low-Interest-Rate Environments (with Taeyong Kang (Sogang))
Public versus Private Capital Outflows and Exchange Rate Determination: A Portfolio Balance View (with Ahjin Choi (BOK) and Youngjin Yun (Hanyang))
Presentations
2025 Econometric Society World Congress
2024 Korea’s Allied Economic Associations Annual Meeting, Korean Economic Review International Conference
2023 Korea University
2022 Yonsei University, Korea University, Korean Econometric Society Macro Research Meeting
2021 Korea Labor Institute
2020 Korean Economic Review International Conference, FMA Conference
2019 Yonsei University, Royal Economic Society conference (Warwick), Korea Institute for Defense Analyses, Chonnam National University
2018 Marquette University, Bank of Korea, Korea Capital Market Institute, Seoul National University
2017 Fall Midwest Macro Meeting (University of Pittsburgh)
2017 Spring Midwest Macro Meeting (Louisiana State University)
2016 Jordan River Conference (Indiana University Bloomington)
Discussions
2024 SME Policy Conference, IDB-KIPF Seminar
2021 Asian Research Network Workshop, Korea's Allied Economic Associations Annual Meeting, KFA-KFI seminar
2019 BOK International Conference