Working Papers

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)

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

 [Draft Available upon Request] 

Macroprudential Policy Under Diagnostic Expectations with Taewoong Jo

 [Draft Available upon Request] 

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

 [Draft] 

The Causal Effects of Equity Flows: Evidence from Korea with Bada Han, Jaeyoung Lee (Submitted)

 [Draft] 

A Causal Linkage: Corporate Debt and Sovereign Spreads (Revise and Resubmit)

[Revised Draft]

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]

Selected Research In Progress

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 

• Graduate Course (Sogang University): Topics in International Finance and Macroeconomics

• 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