Research

Publications

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

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. Under review.

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

• 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)

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

• Debt Finance Bias and Macroprudential Policy

Policy Papers

• 생산 부문으로의 자금흐름 전환과 성장 활력 (황인도, 김우석 공저), 2025, BOK 이슈노트 제2025-37호.

• 한국은행 경제전망보고서(2025.5) 중장기 심층연구: 초고령화에 따른 통화정책 여건 변화와 시사점 (이재원, 황인도, 황설웅, 곽보름, 이예일, 김우석 공저)

• Impact of Super-Aging on the Monetary Policy Environment: Implications for Korea (with Lee, Jae Won, Hwang, In Do, Hwang, Seolwoong, Kwak, Boreum, Lee, Yeil and Kim, Wooseok) Bank of Korea "Chapter 3 in Korea Economic Outlook (May 2025)".

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