Refereed Publications
"Banking, Costly Credit, and Interest Rates with Limited Commitment", 2025, Korean Economic Review, 41, 111-140. (Published Paper)
“Payment Systems, Multiple Types of Collateral, Banking, and Collateral Policy”, 2023, Korean Economic Review, 39, 469-493. (Published Paper)
"Monetary Policy, Fiscal Policy, and Cross Signal Jamming" with Jeong-Yoo Kim, 2023, Journal of Macroeconomics, 75, 103500. (Published Paper)
“Money, Payments Systems, Limited Participation, and Central Banking”, 2023, The North American Journal of Economics and Finance, 64, 101874. (Working Paper)
“Payments Systems, Liquidity, Collateral, and Central Banking”, 2021, Korean Economic Review, 37, 65-84. (Published Paper)
“Money, Debit Card, Gross-Settlement Risk, and Central Banking”, 2019, The North American Journal of Economics and Finance, 50, 100993. (Working Paper)
“Inflation Risk, Settlement Cycles, and Monetary Policy”, 2018, Korean Economic Review, 34, 267-282. (Published Paper)
“Credit, Banking, Liquidity Shortfall, and Monetary Policy” with Manjong Lee, 2016, International Review of Economics and Finance, 46, 87-99. (Working Paper)
“Multiple Means of Payment, Excess Reserves, and Monetary Policy” with Manjong Lee, 2016, Korean Economic Review, 32, 5-21. [Lead Article] (Published Paper)
“Inflation, Credit, and Indexed Unit of Account” with Ohik Kwon and Manjong Lee, 2016, International Review of Economics and Finance, 41, 144-154. (Working Paper)
“Monetary Policy, Endogenous Transactions, and Financial Market Segmentation”, 2015, Journal of Macroeconomics, 44, 234-251. (Working Paper)
“Money, Credit, Risk of Loss, and Limited Participation”, 2014, International Review of Economics and Finance, 34, 9-23. (Working Paper)
“Money and Risk of Loss in an Asset Market Segmentation Model”, 2013, International Review of Economics and Finance, 25, 146-155. (Working Paper)
“Money, Credit, and Limited Participation”, 2011, Macroeconomic Dynamics, 15, 652-673. (Working Paper)
“Money and Crime in a Cash-In-Advance Model”, 2011, Southern Economic Journal, 77, 652-673. (Working Paper)
“Monetary Policy and Endowment Risk in a Limited Participation Model”, 2011, Economic Inquiry, 49, 89-93. (Working Paper)
“Money, Credit, and Opportunity Costs”, 2009, Bohum Geumyung Yeon-Gu (Journal of Insurance Studies) 20, 229-257.
Working Papers
"Medium of Exchange, Safekeeping, Distribution, and Central Banking", 2021.
"Gross Settlement, Liquidity, and Real Activity", 2022.
"Credit, Illiquid Collateral, and Settlement", 2022.
"Money, Distribution, and Bank Liquidity", 2025.