Research

Working Papers

• Robust Design of Countercyclical Capital Buffer Rules (with Dominik Hecker, Margarita Rubio and Fabio Verona), Bank of Finland Research Discussion Paper No. 9/2024

• Population Aging and Financial Stability: An Empirical Analysis, BOK Working Paper No. 2025-13

• Foreign Investor Trading and Spillovers to Local-Currency Bond Markets in SEACEN Economies: A Case Study Approach (SEACEN Collaborative Research Project)

Work in Progress

• Liquidity Constraints and the Consumption Effects of Recurrent Property Taxes (with Atsuyoshi Morozumi)

• Fiscal Interventions as Housing-Related Macroprudential Tools: A Comprehensive Analysis (Resubmitted, Oxford Economic Papers)

• Assessing the Empirical Fit of Macroprudential DSGE Models (with Dominik Hecker, Margarita Rubio and Fabio Verona)

• Debt Finance Bias and Macroprudential Policy

Policy Papers

• Implementing Loan-to-Value and Debt-to-Income Ratios: Learning from Korea’s Experiences (with Y. M. Kim and J.Y. Lee), 2015, mimeo.