Address: International Monetary Fund, 700 19th Street, N.W., Washington, D.C. 20431, USA               

Sangyup (Sam) Choi is an economist (Economist Program) at the Middle East and Central Asia Department of International Monetary Fund. Previously, he has worked in the IMF’s Statistics Department, and has done an internship in the IMF’s Research Department. He received a Ph.D. in Economics from UCLA in 2015 and B.A. in Economics from Yonsei University in 2009. His primary field of research is international finance. His research, thus far, has focused on credit market imperfections, fluctuations in uncertainty, and international spillovers with a focus on emerging market economies. 

Research and Teaching Interests
Primary: International Finance
Secondary: Financial Markets, Macroeconomics, Applied Econometrics

Journal Publications

 Variability in the effects of uncertainty shocks: new stylized facts from OECD countries Journal of Macroeconomics (accepted) [Paper] [Online appendix]

 Aggregate uncertainty and sectoral productivity growth: the role of credit constraints (with Davide Furceri, Yi Huang, and Prakash LounganiJournal of International Money and Finance (accepted) [Paper] [IMF WP 16-174 (old)] [Featured in Unassuming economist] 

 Uncertainty and unemployment: the effects of aggregate and sectoral channels (with Prakash Loungani2015, Journal of Macroeconomics  [Paper] [IMF WP 15-36 (old)] [Sectoral uncertainty index, 2015Q3 Updated] [Featured in Unassuming economist]

 Are the effects of Bloom's uncertainty shocks robust? 2013, Economics Letters  [Paper] [Data]

Working Papers

 The impact of US financial uncertainty shocks on emerging market economies: an international credit channel [Paper] [Online appendix] R&R at Open Economies Review

 The effects of data transparency policy reforms on emerging market sovereign bond spreads (with Yuko Hashimoto) [IMF WP 17-74] [IMF Blog] [Featured in IMF-World Bank 2017 Spring Meeting] [Reuters] [Managing Director's speech in Atlantic Council] [Managing Director's speech in Dubai] Under review

 Identifying the effect of bank lending shocks under credit rationing:  evidence from bank loan officer survey [New draft coming soon] Under revision

 Financial vs. policy uncertainty in emerging economies: evidence from Korea and the BRICs (with Myungkyu Shim[Paper] Under review

 New normal in the second phase of global liquidity: sovereign debt and corporate borrowing costs in emerging markets (with Jongho Park[New draft coming soon] Under revision

 Oil prices and inflation: evidence from international panel data (with Davide Furceri, Prakash LounganiSaurabh Mishra, and Marcos Poplawski-RibeiroUnder review

 Fiscal stabilization and growth: evidence from industry-level data for advanced and developing economies (with Davide Furceri and João Tovar Jalles[Draft coming soon]

 Technology-hours debate revisited: role of subsistence consumption (with Myungkyu Shim) [Draft coming soon]

 Forecasting the S&P 500 from VIX term structure (with Aaron Tornell)

Book Chapters and Policy Publications

 Global disinflation in an era of constrained monetary policy, International Monetary Fund [Analytical Chapter 3] [Slides] 2016 World Economic Outlook (IMF Flagship Publication)

 The Federal Democratic Republic of Ethiopia, International Monetary Fund [Report] [Media] 2016 Article IV Consultation

 Impacts of the 2014 oil price decline, International Monetary Fund [Report] 2015 Spillover Report (IMF Flagship Publication)


 Quasi ex-ante inflation forecast uncertainty (Charemza et al., 2017), Washington, D.C., April 2017 [Slides]

 The measurement and transmission of macroeconomic uncertainty: evidence from the U.S. and BRIC countries (Liu and Sheng, 2017), Washington, D.C., April 2017 [Slides]

 Financial heterogeneity and monetary union (Gilchrist et al., 2015), Washington, D.C., February 2016 [Slides]