Research on Macroeconomic Policy (2008-present)
1. "Are DSGE Approximating Models Invariant to Shifts in Policy?" (with Tim Cogley), The B.E. Journal of Macroeconomics, 10(1), 1-33, January 1, 2010. (link)(online appendix)
2. "Estimating Taylor Rules in a Credit Channel Environment", North American Journal of Economics and Finance, 22(3), 344-364, December, 2011. (link)
3. “Health Care Inflation and Its Implications for Monetary Policy” (with Juan Du), Economic Inquiry, 53(3), 1556-1579, March 9, 2015. (link) (wp ver.)
4. "How Costly is A Misspecified Credit Channel Model in Monetary Policymaking?" Economic Modelling, 68, 480-505, January 2018. (link) (wp ver.)
5. "The Cost of Omitting Credit Channel in DSGE Model: A Policy Mix Approach," PRI Discussion Paper Series, No.20A-05, March 2020. discussion paper; older version without policy mix
6. "DSGE Models Used by Policymakers: A Survey," forthcoming in PRI Discussion Paper Series, working paper version
7. "Government Interventions, Program Participation and Stigma: An Analysis of Bank Participation in the Capital Purchase Program" (with Larry Filer), mimeo. Presented at CEA meeting and at other places
International Macro and Applied Times Series (2010-present)
1. "The Industrial Interdependence Between Japan and South Korea: A FAVAR Approach" (with David Selover), Japan and the World Economy, 36, 67-87, November, 2015. (link) (wp ver.)
2. “Empirical Identification of Factor Models” (with Piyachart Phiromswad), Empirical Economics, 51(2), 621-658, September, 2016. (link) (wp ver.)
3. "How Do the Trans-Pacific Economies Affect the USA? An Industrial Sector Approach" (with David Selover), The World Economy, 40(10), 2097-2124, October, 2017. (link) (wp ver.) (online appn.)
4. "The common sources of business cycles in Trans-Pacific countries and the U.S.? A comparison with NAFTA," (with Uluc Aysun) The World Economy, 42(4), 1077-1109, April, 2019. (link) (wp ver.) (online appendix a) (online appendix b&c) (poster)
Consumption, Saving, and Health (2012-present)
1. "Health Care Use, Out-of-pocket Expenditure, and Macroeconomic Conditions During the Great Recession", (with Juan Du), The B.E. Journal of Economic Analysis & Policy, 15(1), 1-38, January 2015. (link) (wp ver.)
2. "Intertemporal Elasticity of Substitution and Risk Aversion: Are they Related Empirically?" (with Juan Du), Applied Economics, 47(15), 1588-1605, March 28, 2015. (link) (wp ver.)
3. "Goods-Time Elasticity of Substitution in Health Production" (with Juan Du), Health Economics, 26(11), 1474-1478, November 2017. (link) (wp ver.)
4. “Health Capital Investment and Time Spent on Health-Related Activities,” (with Juan Du), Review of Economics of the Household, 15(4), 1215-1248, December 2017. (link) (wp ver.)
5. "Intertemporal Elasticity of Substitution with Leisure Margin,"(with Juan Du) forthcoming in Review of Economics of the Household. (wp ver.) (online appendix)
6. "Searching for the Empirical Linkages Between National Health and Economic Growth" (with Piyachart Phiromswad and Juan Du). mimeo. Presented at the SERC 2017 meeting
7. “Consumption and Health over the Life Cycle,” (with Juan Du), mimeo. Presented at SEA meeting and at other places