Research

Professional Journals

[19] "Time-varying Effect of Monetary Policy on Capital Flows in Korea" joint with Kyunghun Kim, Pacific Economic Review (forthcoming)

[18] "Changes in Population Structure and the Macroeconomy: A Life-cycle Model Approach" Panel for Korean Economic Analysis (in Korean), 2021, 27(2), 73-143.

[17] "Labor Income Share and Economic Fluctuations: A Sign-restricted VAR Approach" Economic Modelling, 2021, 102, Article 105546. [Working Paper Version]

[16] "Macroeconomic Effects of Monetary Policy in Korea: A Time-varying Coefficient VAR Approach" joint with Jong-Suk Han, Economic Modelling, 2020, 89, 142-152. [Working Paper Version]

[15] "Understanding the Effects of Unanticipated Future Monetary Policy Shocks" Journal of Insurance and Finance, 2020, 31(1), 3-52.

[14] "Multipliers of Expected vs. Unexpected Fiscal Shocks: The Case of Korea" joint with Wooheon Rhee, Economic Modelling, 2020, 85, 244-254. [Working Paper Version]

[13] "Bad Luck, Bad Policy, and Learning? A Markov-Switching Approach to Understanding Postwar U.S. Macroeconomic Dynamics" joint with Gabriela Best, European Economic Review, 2019, 119, 55-78. [Working Paper Version] [Companion Appendix]

[12] "Measuring the Impact of Population Aging on Tax Revenue: Evidence from Japan and Korea" joint with Kang Koo Lee, Journal of Economic Theory and Econometrics, 2019, 30(1), 1-32.

[11] "Time-varying Information Rigidities and Fluctuations in Professional Forecasters' Disagreement" Economic Modelling, 2018, 75, 117-131. [Working Paper Version]

[10] "Monetary Policy and Asset Prices: A Markov-switching DSGE Approach" Journal of Applied Econometrics, 2017, 32, 965-982. [Working Paper Version]

[9] "Fiscal Financing and the Efficacy of Fiscal Policy in Korea: An Empirical Assessment with Comparison to the U.S. Evidence" joint with Kang Koo Lee, Economic Modelling, 2017, 64, 473-486. [Working Paper Version]

[8] "Assessment of Hybrid Phillips Curve Specifications" joint with Marcelle Chauvet and Insu Kim, Economics Letters, 2017, 156, 53-57.

[7] "Inattentive Agents and Disagreement about Economic Activity" joint with Insu Kim, Economic Modelling, 2017, 63, 175-190 [Working Paper Version]

[6] "Fiscal Multipliers of Korea: A Bayesian VAR Approach" joint with Kang Koo Lee, Bank of Korea Economic Analysis (in Korean), 2017, 23(1), 55-81.

[5] "Information Rigidities in Survey Data: Evidence from Dispersion in Forecasts and Forecast Revisions" joint with Insu Kim, Economics Letters, 2016, 142, 10-14. [Working Paper Version]

[4] "Financial Openness, The Financial Accelerator and Sectoral Dynamics" joint with Emmanuel K. K. Lartey, International Review of Economics and Finance, 2016, 42, 277-290. [Working Paper Version]

[3] "Dissecting the Effects of Terms of Trade Shocks on the Korean Economy" joint with Jinho Choi and Manho Kang, Emerging Markets Finance and Trade, 2017, 53, 1199-1216.

[2] "News and Business Cycles for Korea" Journal of Economic Theory and Econometrics, 2015, 26, 44-82.

[1] "An Examination of Macroeconomic Fluctuations in Korea Exploiting a Markov-Switching DSGE Approach" joint with Jinho Choi, Economic Modelling, 2015, 51, 183-199. [Working Paper Version]


Research Working Papers

● "Effect of Monetary Policy on Government Spending Multiplier" joint with Jong-Suk Han (revised and resubmitted, 2nd)

● "What are the Consequences of Korea’s New Fiscal Rule?" joint with Kang Koo Lee

● "Analysis of Policy Effects by Monetary Policy Operating System" (in Korean)

● "On the Fit of the SVAR Identification Schemes of Government Spending Shocks"

● "Fiscal Financing and The Effects of Government Spending: A VAR Approach"


Work in Progress

"Good Policy or Learning Evolution? A Markov-Switching Approach to Understanding the Determinants of Fed Policy" joint with Gabriela Best (the draft will be available soon)

"Changes in Monetary Policy Regimes and Exchange Rate Dynamics" joint with Kyunghun Kim (the draft will be available soon)

"No News is Good News" joint with Eric M. Leeper and Todd B. Walker

"Uncertain Information and Macroeconomic Fluctuations" joint with Takayuki Tsuruga and Donghoon Yoo

"Agents’ Overreaction and the Effects of Government Spending" joint with Jihye Kang