Ph.D. in Economics, Yale University, May 2011
Assistant Professor, Industrial&Systems Engineering Department, KAIST from August 2011
Visiting Research Fellow, Bank of Korea, Daejeon &Chungnam from May 2014 to April 2015
The Schoen Fellowship, International Center for Finance, Yale University, July 2014

I am presently an Assistant Professor in the Department of Industrial and System Engineering at KAIST since August 2011. I earned a B.A. degree in Economics from Seoul National University in 2004, where I graduated summa cum laude, ranked top 2nd across the College of Social Sciences.  I received my Ph.D. from the Department of Economics at Yale University under the supervision of Professor Gary B. Gorton. My doctoral work examined the market evolution and the role of securitization products in the shadow banking system during the financial crisis of 2007-2009. My academic interests lie broadly in finance and banking. Please see my research page for further details.


Fields: Financial Economics, International Finance, Banking 
Research Interests: Banking and Regulation, Financial Intermediation, International Financial Markets
 
My papers are:
  • The Size of the Subprime Shock cited in Gary Gorton, The Maze of Banking (2015), Misunderstanding Financial Crises (2012) and Robert J. Shiller, Finance and the Good Society (2012) 
  • The Anatomy of CDO: Why ABS CDOs exist? (SSRN link)
  • The Design of Subprime MBS and Information Insensitivity (2013), International Economic Journal, Volume 27, Issue 2 Special Issue: Macroeconomic and Financial Stability in Emerging-Market Countries
  • Bank Endogenous Creation of Opacity during the Recent Financial Crisis with Gary B. Gorton, 2015
  • The Effect of Macroprudential Policies on Accumulation of Non-core Liabilities with Min, 2014
  • How Korean Housing and Mortgage Market are related?: An Aggregate and Micro-level Analysis with Park, 2014
  • Captivation of Regulatory Arbitrage: Evidence from the Euro-Issued ABCP market with Choi and Hwang, 2015
  • The Effect of ELS Delta Hedging on the Underlying Asset Market with Min, 2015
  • Demystifying the Anatomy of Default Risk Contagion: A Nonparametric Approach with Roh, 2015
  • Abnormal Performance of Hedge Funds during the QE period with Kim and Bae, 2015
  • Was the Establishment of Bank Holding Companies Beneficial?with Jeong, 2014 
Research Grant:
  • MESIA, Research Center for Future Strategy, KAIST, March 2015 ~ August 2015
  • Ministry of Strategy and Finance, February 2015 ~ May 2015
  • Ministry of Strategy and Finance, August 2014 ~ December 2014, Macroprudential Policy Measures and Capital Control Measures in ASEAN+3
  • KAIST: HRHRP(High Risk High Return Project), January 2014 ~ December 2014, KRW 50,000,000
  • The National Research Foundation of Korea (NRF):  Fostering Next-Generation Researchers, Basic Research Infrastructure Support Program, December 2013 ~ November 2016, Grant Number: 2013R1A1A1076066, KRW 180,000,000
  • The National Research Foundation of Korea (NRF): Basic Research Infrastructure Support Program, September 2013 ~ October 2013, Grant Number: 2013R1A1A1065535
  • KAIST: Start-up Grant, August 2011 ~ December 2014

Honors and Awards: