Jay Hyun

Welcome! 

I am an Assistant Professor of Business Economics & International Business in the Department of Marketing, Business Economics & Law (MBEL) at the Alberta School of Business - University of Alberta in Edmonton, Canada. Prior to joining the Alberta School of Business, I was an Assistant Professor at HEC Montreal - University of Montreal affiliated business school. I received a Ph.D. and an M.A. in Economics from Columbia University, and a B.A. in Economics from Seoul National University with the presidential award for graduating first in class. 

I serve as a member of the Editorial Board for Corporate Governance: An International Review (Impact Factor: 5.5, CiteScore: 8.2, ABDC JQL: A). 

My area of specialization is International Economics and its broad intersections with Macroeconomics, 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.

Here is a brief interview with the Alberta School of Business, where I share my passion for research and my life experiences.

Recent Updates

Institutions, Trade and Economic Development (InsTED) Workshop

• The 9th InsTED Workshop will be held at the Alberta School of Business on September 20-21, 2025, co-hosted by the MBEL-Business Economics and the Department of Economics of the University of Alberta. 

  • Keynote Speakers:

• Nathan Nunn (University of British Columbia - Vancouver School of Economics)

• Dainel Trefler (University of Toronto - Rotman School of Management)

• Workshop Website: https://insted.artsrn.ualberta.ca 

Research & Grants

• • Jun 2025 - "Spillovers through Multimarket Firms" is conditionally accepted at the Review of Economics and Statistics.

  • Feb 2025 - "Shock Propagation within Multi-sector Firms" is accepted at the Journal of Money, Credit and Banking.

  • Jan 2025 - "The Cleanup of US Manufacturing through Pollution Offshoring" is published at the Journal of International Economics.

  • Jan 2025 - I joined the Editorial Board for Corporate Governance: An International Review  (Impact Factor: 5.5, CiteScore: 8.2, ABDC JQL: A). 

  • Dec 2024 - I have been awarded the NOVA Management of Technology Endowment Fellowship (PI - $15,000) from the Alberta School of Business.

Conferences and Seminars (* by coauthor)

• • (Scheduled) Nov 2025 - University of Winnipeg

  • (Scheduled) Sep 2025 - Institutions, Trade and Economic Development (InsTED) Workshop (University of Alberta)

  • (Scheduled) Jul 2025 - Canada-Korea Conference on Science and Technology (CKC) - (Invited) Participating as part of AKCSE Partnership Project (Montreal)

  • Jun 2025 - Western Economic Association International (WEAI) Annual Conference (San Francisco)

  • Jun 2025 - Queen's Workshop on Firms and Inclusive Economic Growth (Queen's University Smith School of Business)

  • May 2025 - Canadian Economic Association (CEA)* - (Invited) ISED-Partnership Special Session (Université du Québec à Montréal)

  • May 2025 - Association of Environmental and Resource Economists (AERE) Summer Conference* (Santa Ana Pueblo)

  • May 2025 - Rocky Mountain Empirical Trade (RMET) Conference - (Invited) Discussant (Banff)

  • Apr 2025 - West Coast Workshop in International Finance - (Invited) Discussant (Santa Clara University)

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

Research Papers
[EJ = ASB list of Elite Journals; DJ = ASB list of Distinguished Journals; ABDC JQL]

• "Bound by Ancestors: Immigration, Credit Frictions, and Global Supply Chain Formation,"  Journal of International Economics, 2024, 147, 103855.  -  [EJ; A*]

  • • 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.  -  [DJ; A*]

  • • with  Ryan Kim (Seoul National U)  &  Byoungchan Lee (HKUST)

    • [Online Appendix],  [WP version]

• "The Cleanup of US Manufacturing through Pollution Offshoring,"  Journal of International Economics, 2025, 154, 104046.  -  [EJ; A*]

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

    • [Online Appendix],  [WP version],  [IZA Discussion Paper],  [NBER Conference: Environment and Energy Economics 2023]

• "Shock Propagation within Multi-sector Firms,"  Accepted,  Journal of Money, Credit and Banking  -  [EJ; A*]

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

• [Online Appendix]

• "Spillovers through Multimarket Firms: The Uniform Product Replacement Channel,"  Conditionally Accepted,  Review of Economics and Statistics  -  [EJ; A*]

  • • with  Ryan Kim (Seoul National U)

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

• "Global Connectedness and Diversification: Firm-level Evidence from the COVID-19 Pandemic,"  Revise & Resubmit,  Journal of Money, Credit and Banking  -  [EJ; A*]

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

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

• "Contagious Pollution: Environmental Regulation and Supply Chain Reorganization,"  -  Draft available upon request

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

    • Presentations: (2025) AERE 2025 Summer Conference (Santa Ana Pueblo);

• "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)

    • Presentations: (2024) Strategic Management Society PDW (Seoul National U Business); AIB Canada Chapter (U Calgary Business); SEA Annual (Washington DC);

Selected Works in Progress

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

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

    • Presentation: (2025) CEA (UQAM); Queen's Workshop on Firms (Queen's U Business);

• "Is Public Capital Productive? Evidence from Bridge Collapse,"  

  • • with  Hafedh Bouakez (HEC Montreal),  Carlos E. Ladeira (Gov. of Alberta),  &  Vladimir Smirnyagin (U of Virginia)

• "Specialization and Diversification in Syndicated Loan Partnership,"  

  • • with  Luca Lin (SUNY Buffalo-Finance)

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

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