Work in Progress
The Asymmetric Bank Distress Amplifier of Recessions
[World Bank Policy Research Working Paper]
Rethinking the Macroeconomic Effects of Capital Flows (with Jongrim Ha, M. Ayhan Kose, and Francis E. Warnock)
External Finance in Emerging Markets and Developing Economies: A Tale of Differences in Vulnerabilities (with Gian Maria Milesi-Ferretti)
Publications
Resolving Puzzles of Monetary Policy Transmission in Emerging Markets (with Jongrim Ha, M. Ayhan Kose, and Eswar S. Prasad)
European Economic Review, 173, April 2025, 104957
[NBER WP] [World Bank Policy Research Working Paper] [CEPR Discussion Paper] [IZA Discussion Paper]
Loan Growth and Quality over the Credit Cycle (with Wook Sohn)
International Review of Economics & Finance, Volume 95, September 2024, 103459.
A Survey of the Literature on Banking in Korea: A Decade on from the Global Financial Crisis (with Wook Sohn)
Asian Review of Financial Research, 35(1), February 2022, 89-149.
The Effect of Bank Capital on Lending: Does Liquidity Matter? (with Wook Sohn)
Journal of Banking and Finance, Volume 77, April 2017, 95-107.