Research
The MOD Method: Solution Method for LRE and MSRE Models
New Working Papers
1. "A Unified Approach to Determinacy Conditions with Regime Switching"
with Jean Barthelemy and Magali Marx, 2023
Replication package: To be updated
Publications
1. "Generalizing Determinacy under Monetary and Fiscal Policy Switches: The Case of the Zero Lower Bound"
with Antonio Moreno, forthcoming(Journal of Money, Credit, and Banking)
Working Paper version (up to date)
2. "Determinacy and Classification of Markov-Switching Rational Expectations Models",
Journal of Economic Dynamics and Control, Vol 127, June, 2021, Matlab Codes and Technical Guide
3. "Sufficient Conditions for Determinacy in a Class of Markov-Switching Rational Expectations Models",
Review of Economic Dynamics, Vol 21, July, 2016 Matlab Codes and Technical Guide
Previously circulated under the title
"Characterizing Markov-Switching Rational Expectation Models"
4. "Refining Linear Rational Expectations Models and Equilibrium”
with Bennett T. McCallum,
Journal of Macroeconomics, Vol 46, 2015
(Working paper version: NBER Working Paper, No. 18348, 2012)
5. "Macroeconomic Regimes"
with Lieven Baele, Geert Bekaert, Koen Inghelbrecht and Antonio Moreno,
Journal of Monetary Economics, 71, March, 2015
6. "Determinacy and e-stability under reduced-form learning"
Economics Letters, 128, March, 2015
7. "Saddlepath learning, MSV learning and consistency of subjective expectations",
Economics Letters, 125 (2), November, 2014
8. "The Forward Method as a Solution Refinement in Rational Expectations Models"
with Antonio Moreno,
Journal of Economic Dynamics and Control, 35 (3), March, 2011 Matlab Codes
9. "New-Keynesian Macroeconomics and Term Structure"
with Geert Bekaert and Antonio Moreno,
Journal of Money, Credit and Banking, 42 (1), February, 2010
10. "Another Weakness of “Determinacy” as a Selection Criterion for Rational Expectations Models"
with Bennett T. McCallum,
Economics Letters, 104 (1), July, 2009
11. "A Small-Sample Study of New-Keynesian Macro Model"
with Antonio Moreno,
Journal of Money, Credit and Banking, 38 (6), September, 2006
12. "The Deaton Paradox in the Context of Long Memory with a Structural Break"
with Luis A. Gil-Alana and Antonio Moreno,
Applied Economics, 44 (25), 2012
Publications: Korean Journals
1. "Natural Interest Rate, Potential GDP Growth Rate and Long-Term Monetary Policy Stance"
Journal of Economic Theory and Econometrics, June 2020 [in Korean]
2. "Estimating Monthly Macro-Finance Model for Korea"
Economic Analysis, 2009. II [in Korean]
3. "Monetary Policy Transmission Channel under Balance of Payment Restriction",
Kyong Je Hak Yon Gu, Dec 2007 [in Korean]
4. "An Empirical Assessment of the Korean Monetary Policy
since the Foreign Exchange Crisis", Korean Economic Review, Winter 2007
5. "A Test on the Efficiency of Monetary Policy in Korea"
with Hyeon-Seung Huh and Hee Yeul Woo
KDI Journal of Economic Policy, 2007. II
Work In Progress
1. "Stochastic Risk Aversion, Time-Varying Term Premia and Macro Dynamics"
with Geert Bekaert and Antonio Moreno
2. "Optimal Monetary Policy under Habit Persistence and Stochastic Risk Aversion"
with Geert Bekaert and Antonio Moreno
Referring Services
Ad hoc reviewer for Econometrica, American Economic Review,
Journal of Monetary Economics, Review of Economic Dynamics, Review of Economics and Statistics,
Journal of Money, Credit and Banking, Journal of Economic Dynamics and Control,
Review of Financial Studies, Journal of Macroeconomics, Economic Modelling,
Applied Economics, etc