Jay Hyun

Welcome! 

I am currently an Assistant Professor of Economics at HEC Montréal, the University of Montreal affiliated business school in Canada.
Starting this summer, I will be joining the Department of Marketing, Business Economics & Law (MBEL) in the Alberta School of Business at the University of Alberta as an Assistant Professor of Business Economics & International Business.

My fields of specialization are International Economics and Macroeconomics, and their intersection with Corporate Finance and International Business. My research uses a combination of micro-level data and structural models to understand shock propagation mechanisms and network spillovers, with a particular emphasis on the role played by firms. I am also interested in understanding global supply chain formation and reorganization, multinational activities, and their interactions with various economic factors.

I received Ph.D. and M.A. in Economics from Columbia University, and received B.A. in Economics from Seoul National University with the presidential award for graduating first in class. 

*I was on parental leave in January-February 2021 and August-December 2022 for my second and third child, respectively.

Call for Submission - 38th Annual Meeting of the Canadian Macro Study Group (CMSG)

• HEC Montréal will be hosting the 38th Annual Meeting of the Canadian Macro Study Group (CMSG) on November 15-16, 2024 in Montreal.  

  • Submit papers to: cmsg2024.submissions@hec.ca

  • Deadline for submissions: May 31, 2024

  • Conference website: https://www.cirano.qc.ca/en/events/1223

  • Information on past conferences: https://canadianmacro.ca/

Recent Updates

Research & Grants

• • Apr 2024 - I have been awarded the FRQSC Research Grant (Sole PI - $57,150) from the Government of Quebec.

  • Feb 2024 - "Spillovers through Multimarket Firms: The Uniform Product Replacement Channel" is R&R at the Review of Economics and Statistics.

  • Jan 2024 - "Shock Propagation within Multi-sector Firms" is R&R at the Journal of Money, Credit and Banking.

  • Jul 2023 - I have been awarded the SSHRC Insight Development Grant (Sole PI - $55,000) from the Government of Canada.

Conferences and Seminars (* by coauthor)

• • (Scheduled) Nov 2024 - Southern Economic Association Annual Meeting (Washington DC)

  • (Scheduled) Jul 2024 - Strategic Management Society Paper Development Workshop* (SNU Business School)

  • Jun 2024 - Canadian Economic Association - (Invited) Special Session on Firm Internationalization (Toronto Metropolitan University)

  • May 2024 - Rocky Mountain Empirical Trade Conference (Banff, Alberta)

  • May 2024 - Comparative Analysis of Enterprise Data (CAED)* (Penn State University)

  • May 2024 - Midwest International Trade Conference* (Indiana University-Purdue University)

  • May 2024 - Conference on Macroeconomics in Emerging Markets (Columbia University)

Full research profile is available in the "Research" section.

Publications

• "Bound by Ancestors: Immigration, Credit Frictions, and Global Supply Chain Formation,"  Journal of International Economics, 2024, 147, 103855.

  • • with  Jaerim Choi (Yonsei U)  &  Ziho Park (National Taiwan U)

    • [Online Appendix],  [WP version],  [NBER Working Paper],  [NBER Conference: International Fragmentation 2023]

• "Business Cycles with Cyclical Returns to Scale,"  International Economic Review, 2024, 65(1), 253-282.

  • • with  Ryan Kim (Johns Hopkins SAIS)  &  Byoungchan Lee (HKUST)

    • [Online Appendix],  [WP version]

Working Papers

• "Spillovers through Multimarket Firms: The Uniform Product Replacement Channel,"  Revise & Resubmit,  Review of Economics and Statistics

  • • with  Ryan Kim (Johns Hopkins SAIS)

    • [Online Appendix],  [Media coverage: Chicago Booth Review]

• "Shock Propagation within Multi-sector Firms,"  Revise & Resubmit,  Journal of Money, Credit and Banking

• with  Ziho Park (National Taiwan U)  &  Vladimir Smirnyagin (U of Virginia)

• "The Cleanup of US Manufacturing through Pollution Offshoring,"  -  Submitted

  • • with  Jaerim Choi (Yonsei U),  Gueyon Kim (UC Santa Cruz),  &  Ziho Park (National Taiwan U)

    • [IZA Discussion Paper],  [NBER Conference: Environment and Energy Economics 2023]

• "Global Connectedness and Diversification: Firm-level Evidence from the COVID-19 Pandemic,"  -  Submitted

• with  Daisoon Kim (NC State University)  &  Seung-Ryong Shin (KDI)

• [CEPR's Covid Economics, Issue 49],  [Media coverage: VoxEU]

• "ESG and Matching in Global Supply Chains,"  -  Draft available upon request

  • • with  Jaerim Choi (Yonsei U),  Omrane Guedhami (U of South Carolina-International Business),  Jong-Min Oh (SKK Business School-Finance),  &  Hwan-Jin Yong (LG Business Research)

• "Propagation of Housing Market Disruptions during the Great Recession: Supply Chain Network Channel,"  

• with  Ryan Kim (Johns Hopkins SAIS)

Selected Works in Progress

• "The Geography of Trade Diversification and the Economic Resilience to Extreme Weather Events,"

  • • with  Myeongwan Kim (U of Toronto)  &  Gaelan MacKenzie (Bank of Canada)

• "Specialization and Diversification in Syndicated Loan Partnership,"  

  • • with  Luca Lin (SUNY Buffalo-Finance)

• "Environmental Regulation and Firm Networks,"  

  • • with  Scott Holladay (U of Tennessee),  Gueyon Kim (UC Santa Cruz),  &  Doyoung Park (Texas A&M)

• "Returns to Scale and Markups: Micro-level Decomposition Using Administrative Data,"  

  • • with  Daisoon Kim (NC State University),  Yoonsoo Lee (Sogang U),  &  Vladimir Smirnyagin (U of Virginia)