Research

Individualism and Political Instability: Theory and Evidence , KIEP Working Paper Series 23-05, 2024  (with Minhyeon Jeong) [Link] 

The Effects of Robotization on Foreign Direct Investment, KIEP Working Paper Series 22-04, 2023 (with Sungwoo Hong and Yeo Joon Yoon) [Link] , Under Review

Robots and Labor Income Share: An Empirical Investigation, Under Review

The Effects of Weather Shocks on Income Inequality: Evidence from Asia-Pacific Economic Cooperation (APEC) Member Economies,  Asian-Pacific Economic Literature, Forthcoming, [Link]  (with Woo-Hyung Hong)

Private Sector Debt Overhang and Government Spending Multipliers: Not All Debts Are Alike, European Economic Review, Vol 154 104439, 2023, [Link] 

Fiscal Policy and the Twin Deficits: Structural Changes Matter, Macroeconomic Dynamics, 28(3): 517-545, 2024, [Link] 

Effect of News and Noise Shocks of U.S. Monetary Policy on Economic Fluctuations in Emerging Market Economies , Canadian Journal of Economics, 55(4):1862-1893, 2022, [Link]  (with Kyunghun Kim)

Dynamic Analysis of Antidumping Using Impulse Responses: A Study on the US-China Case, Empirical Economics, 63(2): 671-692, 2022, [Link]  (with Yeo Joon Yoon)

Macroeconomic Effects of Government Transfer Payments: Evidence from Korea, Economic Modelling, Vol.102 105571, September 2021, [Link] 

Trump Tariff and Firm Relief : Winners and Losers from Steel Tariff Exclusion Request, Applied Economics Letters,  Vol.28(16) pp.1357-1362, 2021  [Link]  (with Yeo Joon Yoon) 

Impacts of RMB Devaluation on China’s Trade Balances: A Time-Varying SVAR Approach,  Applied Economics, Vol.52(45) pp.4952-4966, 2020, [Link] 

Government Spending Policy Uncertainty and Economic Activity: U.S. Time Series Evidence,  Journal of Macroeconomics, Vol.61 103124, 2019, [Link]  

Do Government Spending Multipliers Depend on the Level of Government Debt? US Historical Data Evidence, Applied Economics Letters, Vol.22(8) pp.668-672, 2015, [Link]

Aging and Fiscal Austerity (financially supported by NRF of Korea and KIPF network program) 

Asymmetric Transmission of US Monetary Policy to Emerging Economies: The String Theory Revisited

Fiscal Theory of the Price Level in Korea (with Sora Chon)

Economic Impacts of Sanctions on the Russian Economy (대러 경제제재가 러시아 경제에 미치는 영향), International Area Studies Review (국제지역연구), 28(2), 2024 (with Minhyeon Jeong, in Korean) [Link] 

International Transmission of Macroeconomic Uncertainty in China: A Time-Varying Bayesian Global SVAR Approach , East Asian Economic Review, 28(1), 2024 [Link] 

Forecasting Economic Activities with Term Spreads Using Nonlinear Models (비선형모형을 이용한 장단기금리차의 경기선행성 및 경기침체 예측력 분석),  Journal of Korean Economic Analysis (한국경제의 분석),  29(1), 2023 [Link]  (with Noh-Sun Kwark, in Korean)

Government Debt and Government Spending Multipliers: Evidence from OECD Panel Data and IPVAR (정부부채 수준에 따른 정부지출승수 추정: OECD 국가패널 및 교차패널자기회귀모형 (IPVAR)을 이용하여), Journal of Market Economy (시장경제연구),  50(3), 2021 [Link]  (in Korean)

Government  Spending  Multipliers  in  Uncertain  Times:  U.S.  Historical  Data  Evidence,  Asia-Pacific Journal of Business & Commerce (아태경상저널) 12(1), 2020 [Link]

Heterogeneous Responses of Consumption to Government Spending Shocks in Korea (정부지출이 민간소비에 미치는 영향: 소득별, 연령별 이질성을 중심으로),  Journal of Budget and Policy (예산정책연구) 9(1), 2020 [Link] [in Korean, featured in Maeil Business Newspaper, Hankook ilbo, Asia Economy]

Effects of Government Spending in Korea: FAVAR approach (FAVAR모형을 이용한 한국정부지출의 효과분석) ,  Economic Analysis (경제분석), 25(3), 2019 [Link] [in Korean, featured in The Korea Herald]

Asset Price, the Exchange Rate, and Trade Balances in China: A Sign Restriction VAR Approach,  East Asian Economic Review, 22(3), 2018 [Link]

Leading Behavior of Interest Rate Term Spreads and Credit Risk Spreads in Korea,   Journal of Money and Finance (금융연구), 26(4), 2012 [Link] (with Noh-Sun Kwark)