Artificial Intelligence and Public Debt: Revenue Composition versus Expenditure Indexation, BOK Working Paper, 2026
Government Spending, Reallocation and Aggregate Productivity (with Sunju Hwang), 2026
The Effects of Robotization on Foreign Direct Investment (with Sungwoo Hong and Yeo Joon Yoon), 2026
Individualism and Political Instability: Theory and Evidence (with Minhyeon Jeong), R&R at Public Choice
Macroeconomic Consequences of Value-Added Tax Rate Changes: Consumer Confidence Matters, 2026
The Asymmetric Effects of Oil Supply News Shocks on Climate Policy Uncertainty, Under Review
Monetary-Fiscal Policy Mix in Korea: An Empirical Investigation (with Sora Chon and Seri Shim), [Link] R&R at Singapore Economic Review
Birth Policy and Growth: the Role of Culture (with Minhyeon Jeong and Nam Seok Kim), KIEP Working Paper Series 25-01 [Link]
Robots, Labor Income Share and Labor Productivity: An Empirical Investigation, The Manchester School, 93(6): 535-548, 2025 [Link]
The Effects of Weather Shocks on Income Inequality: Evidence from Asia-Pacific Economic Cooperation (APEC) Member Economies, Asian-Pacific Economic Literature, 38(2): 75-101, 2024 [Link] (with Woo-Hyung Hong) 2024 Top 10 Most-cited Papers in Asian-Pacific Economic Literature
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]
Government Spending, Markup Dispersion, and Aggregate Productivity (with Sunju Hwang)
Macroeconomic Consequences of Value Added Tax Rate Reform: Some Non-Linear Perspectives
The Role of Permanent Demand Shocks in Economic Growth: A Case of Korea (한국의 성장에서의 영구적 수요충격의 역할), Economic Analysis (경제분석), 31(4), 2025, Lead Article (in Korean) [Link]
Sanction against Russia and Central Asia’s participation on Global Value Chain: An Empirical Investigation (러시아 경제제재가 중앙아시아 5개국의 글로벌 가치사슬 참여에 미치는 영향: 패널데이터를 이용한 실증분석) , International Area Studies Review (국제지역연구), 29(1), 2025 (in Korean) [Link]
Aging and Fiscal Austerity: the measures and the degree of aging matter (고령화와 재정건정화: 재정건전화 수단에 관한 논의를 중심으로), Journal of Budget and Policy (예산정책연구) 14(1), 2025 (in Korean) [Link]
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)