Research interests
International trade · Spatial macroeconomics · Energy and climate
Working papers
Green Industrial Policy in a Globalized Economy (Supplementary Appendix) (Formerly titled: Green Industrial Policies and the Energy Transition in the Globalized Economy)
Excellence Award, KAEA Job Market Conference 2024 · Fumio Dei Award, IEFS Japan 2024
A dynamic trade model of manufacturing and deployment subsidies for clean energy. Their effects depend on comparative advantage and trade patterns, and national incentives need not align with global gains.
Strategic Multinational Location Choice (Supplementary Appendix) (with Hyungjin Kim)
A framework for strategic multinational location choice that computes globally optimal portfolio responses without imposing complementarity or single-crossing restrictions. Applied to eight cloud providers in 42 countries, it shows that EU-wide sourcing requirements increase EU core presence, whereas national requirements reduce it.
Learning and Expectations in Dynamic Spatial Economies (Supplementary Appendix) (with Jingting Fan and Fernando Parro) NBER WP #31504
A tractable framework for incorporating evolving, uncertain, and heterogeneous beliefs into dynamic spatial models, applied to the China shock and the economic impacts of climate change.
Wage Bargaining Institutions, Technology Licensing, and Welfare (with Ji Hwan Kim and Seung-Gyu Sim)
A unionized oligopoly model of how wage bargaining shapes technology licensing. As union power rises, firm-level bargaining shifts optimal contracts from fixed fees through two-part tariffs to pure royalties, while industry-wide bargaining favors fixed fees.
Work in Progress
Electricity Markets in Spatial General Equilibrium (with Ron Chan and Akshaya Jha)
Spatial Credit Access and Measured Misallocation: Branch Networks, Credit Wedges, and Capital Allocation (with Hyungjin Kim)
Grid Constraints, Data Center Siting, and Carbon Leakage
Publications
Technology Licensing and Environmental Policy Instruments: Price Control versus Quantity Control (with Seung-Gyu Sim), Resource and Energy Economics, 2020, Volume 62, November 2020, 101187 (working paper version)
Economic and Air Pollution Disparities: Insights from Transportation Infrastructure Expansion (with Sunbin Yoo, Junya Kumagai, Kohei Kawasaki, Bingqi Zhang, and Shunsuke Managi), Transportation Research Part D: Transport and Environment, 2023, Vol. 125, 103981
Covered in Earth-graphy (in Japanese)