Working Papers

Macroprudential Policy Under Diagnostic Expectations with Taewoong Jo (Revise & Resubmit at Journal of International Economics)

 New Draft Coming Soon. [SSRN WP][Slides] 

The Effect of a Large Scale Issuance of State-Owned Company Bonds on the Corporate Bond Markets with Taewoong Jo and Yoonsoo Lee

 [Draft]  [Slides] 

Corporate-Sovereign Debt Nexus and Externalities 

[Revised Draft] is the theoretical part of my job market paper, distributed as a KIF Working Paper 2022-12.

[SSRN WP], [JMP Version] was covered by European Central Bank (Jan 28, 2021)

The Causal Effects of Equity Flows: Evidence from Korea with Bada Han, Jaeyoung Lee (Revise & Resubmit at  Journal of International Financial Markets, Institutions and Money)

 [Draft] 

Distributional Consequences of a Higher Inflation Target with Donggyu Lee and Dohyeon Park

 [Draft Available upon Request] 

Publications

Capital Flows and Leverage, Annual Review of Economics, 2020 with Şebnem Kalemli-Özcan 

[PDF] [Journal Link]

Does Trade Cause Capital to Flow? Evidence from Historical Rainfall, Journal of Development Economics, 2020 with Şebnem Kalemli-Özcan and Alex Nikolsko-Rzevhskyy 

[PDF] [Journal Link]

Inflation Expectations as a Monetary Policy Tool, Korean Journal of EU Studies  in Korean, 2021, with Jin Ho Park

[PDF] [Journal Link]

Individual Investor Trading and Stock Returns after the Covid-19 Pandemic: Evidence from Korea, Finance Research Letters, 2024

 [PDF], [Journal Link], [SSRN WP], The policy report version was covered by Yonhap, Hankyung, YTN, MTN, SBS Biz, Chosun Biz.

Sectoral Credit Allocation and Interest Rate Spreads Worldwide, Applied Economics Letters, 2024

 [Draft] [Journal Link]

A Causal Linkage: Corporate Debt and Sovereign Spreads, Empirical Economics, 2024 

[Draft] [Journal Link]

Selected Research In Progress

Population Aging and Fiscal Sustainability Under Sovereign Risk with Yun Jung Kim (Slides)

Firm-Level Investment Responses in an Open Economy: Does Domestic Monetary Policy Matter? with Cheolwon Park

Optimal Sterilized FX Intervention with Bada Han and Daeyoung Jung

Global Financial Cycles and Inequality in Emerging Economies with Donggyu Lee and Dohyeon Park

Integrated Policy Framework with Housing Sector with Daeyoung Jung

Teaching

Instructor

• Undergraduate Courses (Sogang University): Macroeconmics 1 , International Economics (Trade & Finance) 

• Graduate Course (Sogang University): Topics in International Finance and Macroeconomics (2nd year master), International Finance (for professionals), Advanced Macroeconomics (1st year master)

• Econ 442: Globalization and Capital Markets (undergraduate), University of Maryland, Summer 2018

Teaching Assistant

• Econ 330: Money and Banking (undergraduate), University of Maryland, Fall 2016 and Spring 2017

• Econ 325: Intermediate Macroeconomic Analysis (undergraduate), University of Maryland, Fall 2020 and Spring 2021

• Econ 423: Econometrics 2 (undergraduate), University of Maryland, Fall 2020