Research Interests
Primary: Urban and Regional Economics, Housing Economics
Secondary: Public Economics, Computational Economics
Publications
Internal Structure of Consumer Cities: Core and Subcenters, Journal of Regional Science, forthcoming
Market Access Approach to Urban Growth, KDI Journal of Economic Policy, 2020, 42(3), 1-32.
Working Paper
Optimal Policy for Multimodal Roads: Bus Service, Congestion Pricing and Road Capacity Allocation (with Alex Anas)
We combine the flow model of congestion with the trinomial logit model of modal choice among driving, riding a bus and walking. We show an unnoticed property that reducing bus waiting time can increase road congestion on roads when a pedestrian market share is large as it is in megacities of many developing nations. We then use the model to simultaneously examine the first-best optimal public policies. How should car congestion tolls and bus fares be set? How bus waiting time and crowding-in-the-bus are optimally determined? How should the capacity of a road be allocated? Under what conditions should road capacity be shared by cars and buses, and when should it be segregated into portions dedicated to each mode?
Relocation effects of public sector employment: evidence from Korea
An Economic Analysis of Mobility Service: Modeled from Taxi Demand (with Gong Lee)
Price Spillover Effects in Housing Market: Reconstruction of Apartment