Research

Publications

“Financial Frictions, Monetary Policy, and the Term Premium” with Insu Kim, published in Macroeconomic Dynamics 29, March 2025.

“Implications of Collateral Constraints for the Term Premium” with Insu Kim, published in Applied Economics Letters 31.17, September 2024, pp. 1599-1607.

“Measuring the Effects of Unconventional Monetary Policy Tools under Adaptive Learning” with Stephen Cole, published in Journal of Economic Dynamics and Control 164, July 2024.

“Forward Guidance Effectiveness in a New Keynesian Model with Housing Frictions” with Stephen Cole, published in The B.E. Journal of Macroeconomics, 23.1, January 2023, pp. 551-590.

“Real Estate and Relative Risk Aversion with Generalized Recursive Preferences” with Insu Kim, published in Journal of Macroeconomics 68, June 2021.

“The Housing Risk Premium in a Production Economy” with Insu Kim, published in Applied Economics Letters 28.3, January 2021, pp. 213-219.

“Growth Forecast Revisions over Business Cycles: Evidence from the Survey of Professional Forecasters” with Insu Kim, published in Economics Letters 196, November 2020.

Publications in Korean Journals (Peer-reviewed)

“Time-varying Effects of Interest Rates, Global Supply Chain Problems, and Its Associated Uncertainty During the COVID-19 Pandemic,” with Insu Kim, published in Journal of Korean Economic Studies 43, December 2025, pp. 71-98.

“The Response of KRW Exchange Rate to the US Monetary Policy Shocks,” with Cheolbeom Park, published in Future Growth Studies 11, June 2025, pp. 45-61.

“The Effect of Korea-US Interest Rate Differences on Korea’s Net Private Capital Outflows,” with Daehwan Kim and Jaiwon Ryou, published in Review of International Money and Finance 15, May 2025, pp. 5-26. 

“An Analysis of Korea's Imports from Japan in 2019” with Jinho Bae, published in The International Commerce & Law Review 98, May 2023, pp. 153-178.

Papers under Review

“The Effects of Labor Supply and Supply Chain Uncertainty on Wages and Prices” with Insu Kim, Qian Li, and Sanha Noh.

Working Papers

“Forecasting Output Growth and Inflation Using Supervision-Augmented Nelson-Siegel’s Factors”