Job Market Paper [Link]:  The Impact of Electric Vehicle Subsidies on Sales, Internal Combustion Engine Vehicle Demand, and CO₂ Emissions in South Korea

This study investigates the role of EV subsidies, differentiated by battery size and power efficiency, in shaping consumer behavior and decarbonization outcomes. This study suggests that a $1,000 increase in EV subsidies raises EV sales by 5%. The number of EV chargers does not significantly affect EV demand in South Korea. This finding contrasts with evidence from other countries, such as Norway and the United States, where the impact of charging infrastructure on EV demand is often emphasized. This provides evidence on the role of subsidies in a context where charging constraints are relatively minor, such as in South Korea. Furthermore, this study estimates the cost of abatement at $79 per ton of CO₂ under the EV subsidy policy. This is lower than the cost of abatement under a counterfactual policy scenario in which subsidies are applied uniformly across EV models, where the cost of abatement is estimated at $82 per ton.

Working Papers [Link]: Evaluating the Efficacy of Universal Cash Transfers on Fertility: Evidence from Incheon's Childbirth Subsidy 

This study evaluates the impact of the universal childbirth subsidy introduced by the Incheon local government in 2018 on regional fertility rates. Utilizing household panel data from the Korea Labor Income Panel Study (KLIPS) for the period 2013 to 2020, the research employs a Difference-in-Differences (DID) framework to identify the policy effect. The identification strategy compares fertility trends in Incheon against other regions before and after the policy intervention. Empirical results indicate that Incheon's fertility rate did not experience a significant increase relative to other regions following the implementation of the subsidy. The findings suggest that the universal monetary incentive failed to exert a positive influence on childbirth. The study concludes by discussing the limitations of current cash-based support systems and proposes alternative policy directions, including the expansion of public childcare infrastructure and comprehensive immigration reforms to address South Korea's demographic crisis.

Work In Progress [Link]: Electric Vehicle Adoption and Air Quality: Causal Evidence from South Korea

Electric vehicles (EVs) are widely promoted as a cornerstone of cleaner urban air, yet ex-post empirical evidence on their effect remains scarce relative to simulation-based projections. This study estimates the effect of EV sales on ambient concentrations of six criteria air pollutants (PM2.5, PM10, SO2, NO2, CO, and O3) using monthly panel data on 16 South Korean municipalities from 2016 to 2019. To address the potential endogeneity of EV sales, I instrument them with international cobalt prices, a key input for EV batteries. The two-stage least squares estimates indicate that an additional EV sold significantly reduces PM2.5, SO2, and NO2 concentrations. The estimated effects on PM10 and CO are weaker and less robust. Consistent with the Ozone Paradox under a NOx-saturated regime, the reduction in ground-level O3 is modest despite a sharp decline in NO2. These findings provide evidence that rising EV sales improve local air quality, while underscoring that pollutant-specific atmospheric chemistry shapes the magnitude of these gains.