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Research

Selected Publications

2024(including accepted/forthcoming papers)

 - Chang-Koo Chi, RAND JOURNAL OF ECONOMICS, "Optimal incentive contracts with bonus caps"

 

 - Seonghoon Cho, REVIEW OF ECONOMIC DYNAMICS, "A unified approach to determinacy conditions with regime switching"

 

 - Seonghoon Cho, JOURNAL OF MONEY, CREDIT, AND BANKING, "Generalizing demternancy under monetary and fiscal policy switches: The case of the zero lower bound"

 

 - Jaerim Choi, JOURNAL OF INTERNATIONAL ECONOMICS, "Bound by ancestors: Immigration, credit frictions, and global supply chain formation"

 

 - Sangyup Choi, JOURNAL OF MONETARY ECONOMICS, "Revisiting the monetary transmission mechanism through an industry-level differential approach"

 

 - Sangyup Choi, JOURNAL OF MONEY, CREDIT, AND BANKING, "Impact of uncertainty shocks on income and wealth inequality"

 

 - Sangyup Choi, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, "Heterogeneity in the effects of uncertainty shocks on labor market dynamics and extensive vs. intensive margins of adjustment"

 

 - Jihwan Do, RAND JOURNAL OF ECONOMICS, "Opportunism in vertical contracting: a Dynamic perspective"

 

 - Eunseong Ma, JOURNAL OF MONEY, CREDIT, AND BANKING, "Intensive and extensive margins of labor supply in HANK: Aggregate and disaggregate implications"

 

 - Kwang Hwan Kim, JOURNAL OF MONETARY ECONOMICS, "Optimal trend inflation in an open economy"

 

 - Chang-Koo Chi, JOURNAL OF MATHEMATICAL ECONOMICS, "A dual approach to agency problems"

 

 - Sangyup Choi, JOURNAL OF APPLIED ECONOMETRICS, "News or animal spirits? Consumer confidence and economic activity: redux"

 

 - Jihwan Do, ECONOMIC THEORY, "Information exchange through secret vertical contracts"

 

 - Soojin Jo and Myungkyu Shim, CANADIAN JOURNAL OF ECONOMICS, "Does Economic Policy Uncertainty Differ from Other Uncertainty Measures? Replication of Baker, Bloom, and Davis (2016)

 

 - Sunbin Kim, MACROECONOMIC DYNAMICS, "Negative income tax and universal basic income in the eyes of Aiyagari"

 

 - Jongkwan Lee, SOUTHERN ECONOMIC JOURNAL, "Does political conflict hurt immigration?: Evidence from the South Korea-China THAAD dispute"

 

 - Kyung-woo Lee, MACROECONOMIC DYNAMICS, "Government size and the effectiveness of fiscal policy: The bigger the Better?"

 

2023

- Soojin Jo, JOURNAL OF MONEY, CREDIT, AND BANKING, "Do housing markets affect local consumer prices? Evidence from US citieis"

 

- Kwang Hwan Kim, JOURNAL OF MONETARY ECONOMICS, "Inefficient International Risk-Sharing"

 

- Kwang Hwan Kim, REVIEW OF ECONOMIC DYNAMICS, "The paradox of price flexibility in an open economy"

 

- Kwang Hwan Kim and Myungkyu Shim, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, "Are all economic fluctuations bad for consumers?"

 

- Semin Kim, GAMES AND ECONOMIC BEHAVIOR, "Stable constitutions"

 

- Seunghoon Lee, AMERICAN ECONOMIC JOURNAL: MICROECONOMICS, "Monopolistic competition and efficiency under firm heterogeneity and non-additive preferences"

 

- Sangyup Choi, JOURNAL OF ECONOMIC BEHAVIOR AND ORGANIZATION, "Household indebtedness and the macroeconomic effects of tax changes"

 

- Jihwan Do, INTERNATIONAL JOURNAL OF GAME THEORY, "Joint market dominance through exclusionary compatibility"
 
- Jiwhan Do, INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, "Partial secrecy in vertical contracting"
 
- Youjin Hahn, HEALTH ECONOMICS, "Early life exposure to cold weather shocks and growth stunting: Evidence from Tanzania"
 
- Soojin Jo and Myungkyu Shim, JOURNAL OF ECONOMIC BEHAVIOR AND ORGANIZATION, "United states of mind under uncertainty"
 
- Sang-Hyun Kim and Jong-Hee Hahn, JOURNAL OF ECONOMICS AND MANAGEMENT STRATEGY, "Tying in Two-Sided Markets with Heterogeneous Advertising Revenues and Negative Pricing"
 
- Semin Kim, SOCIAL CHOICE AND WELFARE, "Unanimity and local incentive compatibility in sparsely connected domains"
 
- Jaeok Park, ECONOMIC THEORY, "Signaling through entry in auctions with sequential and costly participation"
 
- Hee-Seung Yang, OXFORD ECONOMIC PAPERS, "How does low-skilled immigration affect native wages? Evidence from employment permit system in Korea"
 

 

2022

- Jin Seo Cho and Hyungsik Moon, ECONOMETRIC THEORY, "Sequentially estimating the structural equation by power transformation" 

 

- Sangyup Choi and Myungkyu Shim, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, "Inflation Anchoring and Growth: the Role of Credit Constraints"

 

- Sangyup Choi, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, "Are government spending shocks inflationary at the zero lower bound? New evidence from daily data"

 

- Kwang Hwan Kim, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, "Inefficient Relative Price Fluctuations"

 

- Eunseong Ma, INTERNATIONAL ECONOMIC REVIEW, "Monetary policy and inequality: How does one affect the other?"

 

- Jungjae Park, JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION, "Debauchery and original sin: the currency composition of sovereign debt"

 

- Sangyup Choi, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "Is domestic uncertainty a local pull factor driving foreign capital inflows? New cross-country evidence"

 

- Sang-Hyun Kim and Jong-Hee Hahn, JOURNAL OF ECONOMICS AND MANAGEMENT STRATEGY, "On the Profitability of Interfirm Bundling in Oligopolies"

 

- Kyung-woo Lee, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "Population aging and fiscal sustainability: Nonlinear evidence from Europe"

 

- Eunseong Ma, EUROPEAN ECONOMIC REVIEW, "The heterogenous welfare effects of business cycles"

 

- Hyungsik Moon, QUANTITATIVE ECONOMICS, "Forecasting with a panel tobit model"

 

- Jaeok Park, JOURNAL OF MATHEMATICAL ECONOMICS, "Core and Top Trading Cycles in a Market with Indivisible Goods and Externalities"

 

- Myungkyu Shim and Hee-Seung Yang, JOURNAL OF ECONOMIC BEHAVIOR AND ORGANIZATION, "The rise of low-skilled service employment: the role of dual-income households"

 

- Myungkyu Shim, JOURNAL OF MACROECONOMICS, "On the Welfare Cost of Business Cycles: the Role of Labor-Market Heterogeneity"

 

- Myungkyu Shim, B.E. JOURNAL OF THEORETICAL ECONOMICS, "On the relation between private information and non-fundamental volatility"

 

 

2021

- Jin Seo Cho, INTERNATIONAL ECONOMIC REVIEW, "Parametric Conditional Mean Inference with Functional Data Applied to Lifetime Income Curves"

 

- Seonghoon Cho, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, "Determinacy and Classification of Markov-switching Rational Expectations Models"

 

- Sangyup Choi, THE B.E. JOURNAL OF MACROECONOMICS (advanced tier), "Uncertainty, Financial Markets, and Monetary Policy over the Last Century"

 

- Tae-Hwan Kim, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, "Impulse Response Analysis in Conditional Quantile Models with an Application to Monetary Policy"

 

- Hyungsik Moon, JOURNAL OF ECONOMETRICS, "Panel Forecasts of Country-Level Covid-19 Infections"

 

- Hyungsik Moon, ECONOMETRIC THEORY, "A Uniform Bound of the Operator Norm of Random Element Matrices and Operator Norm Minimizing Estimation"

 

- Jungjae Park, JOURNAL OF EUROPEAN ECONOMIC ASSOCIATION, "Social Norms and Fertility"

 

- Sangyup Choi and Myungkyu Shim, MACROECONOMIC DYNAMICS, "Labor Market Dynamics under Technology Shocks: the Role of Subsistence Consumption"

 

- Sangyup Choi, OXFORD ECONOMIC PAPERS, "Heterogenous gains from countercyclical fiscal policy: new evidence from international industry-level data"

 

- Youjin Hahn, Chulyoung Kim, Sang-Hyun Kim, JOURNAL OF INSTITUTIONAL AND THEORETICAL ECONOMICS, "Endowment Effects in Proposal Right Contests" 

 

- Sun-Bin Kim, THE B.E. JOURNAL OF MACROECONOMICS (contribution tier), "Equilibrium Tax Rates under Ex-ante Heterogeneity and Income-dependent Voting"

 

- Hyungsik Moon, OXFORD BULLETIN OF ECONOMICS AND STATISTICS, "Minimum Distance Estimation of Heterogeneous Income Profile Model with Fixed Effects"

 

- Myungkyu Shim, THE B.E. JOURNAL OF THEORETICAL ECONOMICS, "Optimality of a Linear Decision Rule in Discrete Time AK Model"

 

- Taeyoon Sung, JOURNAL OF CORPORATE FINANCE, "Investment efficiency of firms outside the business group"

 

 

2020

- Hyungsik Moon, ECONOMETRICA, "Forecasting with dynamic panel models" 

 

- Jay Pil Choi, AMERICAN ECONOMIC JOURNAL: MICROECONOMICS, "A leverage theory of tying in two-sided markets with non-negative price constraints" 

 

- Jay Pil Choi, JOURNAL OF INTERNATIONAL ECONOMICS, "Transfer pricing regulation and tax competition"

 

- Jay Pil Choi, RAND JOURNAL OF ECONOMICS, "Optimal certification policy, entry, and investment in the presence of public signals"

 

- Youjin Hahn, ECONOMIC JOURNAL, "Friendship and female education: Evidence from a field experiment in Bangladeshi primary schools" 

 

- Jiseob Kim, JOURNAL OF MONEY, CREDIT, AND BANKING, "How unsecured credit policies influence mortgage and unsecured loan defaults" 

 

- Jiseob Kim, JOURNAL OF ECONOMIC DYNAMICS & CONTROL, "Macroeconomic Effects of the Mortgage Refinance and the Home Equity Lines of Credit"

 

- Sun-Bin Kim, AMERICAN ECONOMIC JOURNAL: MACROECONOMICS, "How Sticky Wages in Existing Jobs Can Affect Hiring" 

 

- Hyungsik Moon, REVIEW OF ECONOMICS AND STATISTICS, "Estimation of peer effects in endogeneous social networks: Control function approach" 

 

- Sangyup Choi, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "International bank lending channel of monetary policy" 

 

- Hyeon-Seung Huh, STUDIES IN NONLINEAR DYNAMICS AND ECONOMETRICS, "Combining sign and parametric restrictions in SVARs by utilising given rotation" 

 

- Chulyoung Kim, Sang-Hyun Kim, JOURNAL OF INSTITUTIONAL AND THEORETICAL ECONOMICS, "Exoneree Compensation and Endogenous Plea Bargaining: Theory and Experiment"

 

- Sang-Hyun Kim, CANADIAN JOURNAL OF ECONOMICS, "Multilateral Bargaining with Proposer Selection Contest" 

 

- Sang-Hyun Kim, OXFORD ECONOMIC PAPERS, "Identifying price-leadership structures in oligopoly" 

 

- Sun-Bin Kim, EUROPEAN ECONOMIC REVIEW, "Cross-sectional and aggregate labor supply" 

 

- Jaeok Park, THE B.E. JOURNAL OF THEORETICAL ECONOMICS, "Decision making and games with vector outcomes" 

 

- Myungkyu Shim, THE B.E. JOURNAL OF MACROECONOMICS, "Leaning-Against-the-Wind: Which Policy and When?"

 

2019

- Sun-Bin Kim, INTERNATIONAL ECONOMIC REVIEW, "Individual and aggregate labor supply in heterogenous agent economies with intensive and extensive margins"

 

- Jay Pil Choi, JOURNAL OF PUBLIC ECONOMICS, "Privacy and personal data collection with information externalities"

 

- Jay Pil Choi, JOURNAL OF ECONOMICS & MANAGEMENT STRATEGY, "Platform market competition with endogeneous side decisions"

 

- Sangyup Choi, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "Uncertainty and cross-border banking flows"

 

- Youjin Hahn, OXFORD BULLETIN OF ECONOMICS AND STATISTICS, "The effectiveness of single-sex schools through out-of-school activities: Evidence from South Korea"

 

- Hyun-Seung Huh, JOURNAL OF MACROECONOMICS, "An IV framework for combining sign and long-run parametric restrictions in SVARs"

 

- Jiseob Kim, JOURNAL OF MACROECONOMICS, "How foreclosure delays impact mortgage defaults and mortgage modifications"

 

- Sang-Hyun Kim, OXFORD ECONOMIC PAPERS, "In-group and out-group biases in the marketplace : a field experiment during the World Cup"

 

- Hyungsik Moon, ECONOMETRICS JOURNAL, "BLP-2LASSO for aggregate discrete choice models with rich covariates"

 

 

 

2018

- Jin Seo Cho, JOURNAL OF ECONOMETRICS, "Pythagorean generalization of testing the equality of two symmetric positive definite matrices"

 

- Jin Seo Cho, JOURNAL OF BUSINESS ECONOMIC STATISTICS, "Practical Kolmogorov-Smirnov testing by minimum distance applied to measure top income shares in Korea"

 

- Jay Pil Choi, INTERNATIONAL ECONOMIC REVIEW, "A model of patent trolls"

 

- Youjin Hahn, JOURNAL OF PUBLIC ECONOMICS, "Does greater school autonomy make a difference? Evidence from a randomized natural experiment in South Korea"

 

- Jiseob Kim, JOURNAL OF ECONOMIC DYNAMICS & CONTROL, "Macroeconomic and distributional effects of mortgage guarantee programs for the poor"

 

- Kwang Hwan Kim, REVIEW OF ECONOMIC DYNAMICS, "Uncertainty shocks and the relative price of investment goods"

 

- Kwang Hwan Kim, JOURNAL OF MONEY CREDIT AND BANKING, "Intersectoral labor immobility, sectoral comovement, and news shocks"

 

- Sun-Bin Kim, REVIEW OF ECONOMIC DYNAMICS, "Pareto weights in practice: A quantitative analysis across 32 OECD countries"

 

- Hyungsik Moon, JOURNAL OF ECONOMETRICS, "Estimation of random coefficients logit demand models with interactive fixed effects"

 

- Jin Seo Cho, ECONOMETRIC THEORY, "Directionally differentiable econometric models"

 

- Jin Seo Cho, JOURNAL OF APPLIED ECONOMETRICS, "Sequentially testing polynomial model hypothesis using the power transform of regressors"

 

- Jay Pil Choi, INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, "You are judged by the company you keep: Reputation leverage in vertically related markets"

 

- Jay Pil Choi, JOURNAL OF INDUSTRIAL ECONOMICS, "Net neutrality, network capacity, and innovation at the edges"

 

- Sangyup Choi, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "Aggregate uncertainty and sectoral productivity growth: The role of credit constraints flows"

 

- Sangyup Choi, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "Does transparency pay? Evidence from IMF data transparency policy reforms and emerging market sovereign bond spreads"

 

- Sangyup Choi, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "Oil prices and inflation dynamics: Evidence from advanced and developing economies"

 

- Youjin Hahn, JOURNAL OF POPULATION ECONOMICS, "The effect of female education on marital matches and child health in Bangladesh"

 

- Youjin Hahn, ECONOMIC DEVELOPMENT AND CULTURAL CHANGE, "Education, marriage, and fertility: Long-term evidence from a female stipend program in Bangladesh"

 

- Sang-Hyun Kim, Jonghee Hahn, ECONOMIC THEORY, "Price discrimination with loss averse consumers"

 

- Hyungsik Moon, ECONOMETRICS JOURNAL, "Estimation of graphical models using the L-1,L-2 norm"

 

- Hyungsik Moon, QUANTITATIVE ECONOMICS, "Inference for VARs identified with sign restrictions"

 

 

 

2017

- Jay Pil Choi, AMERICAN ECONOMIC JOURNAL-MICROECONOMICS, "A theory of patent portfolios"

 

- Youjin Hahn, JOURNAL OF URBAN ECONOMICS, "Can testing improve student learning? An evaluation of the mathematics diagnostic testing project"

 

- Sang-Hyun Kim, GAMES AND ECONOMIC BEHAVIOR, "“Small, yet beautiful”: Reconsidering the optimal design of multi-winner contests"

 

- Semin Kim, GAMES AND ECONOMIC BEHAVIOR, "Ordinal versus cardinal voting rules: A mechanism design approach"

 

- Hyungsik Moon, JOURNAL OF ECONOMETRICS, "Many IVs estimation of dynamic panel regression models with measurement error"

 

- Hyungsik Moon, JOURNAL OF BUSINESS & ECONOMIC STATISTICS, "LM test of neglected correlated random effects and its application"

 

- Jaeok Park, JOURNAL OF ECONOMIC THEORY, "Repeated games with general discounting"

 

- Jay Pil Choi, JOURNAL OF INDUSTRIAL ECONOMICS, "Tying in two-sided markets with multi-homing: Corrigendum and comment"

 

- Jay Pil Choi, JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, "Communication of soft information: Reputation and imperfect enforcement of reporting quality"

 

- Sangyup Choi, JOURNAL OF MACROECONOMICS, "Variability in the effects of uncertainty shocks: New stylized facts from OECD countries"

 

- Chulyoung Kim, JOURNAL OF INSTITUTIONAL AND THEORETICAL ECONOMICS, "Centralized versus decentralized institutions for expert testimony"

 

- Hyungsik Moon, ECONOMETRIC THEORY, "Dynamic linear panel regression models with interactive fixed effects"

 

- Jaeok Park, INTERNATIONAL JOURNAL OF GAME THEORY, "Competitive equilibrium and singleton cores in generalized matching problems"

 

- Taeyoon Sung, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, "The diffusion of corporate governance to emerging markets: Evaluating two dimensions of investor heterogeneity"

 

 

 

2016

- Seonghoon Cho, REVIEW OF ECONOMIC DYNAMICS, "Sufficient conditions for determinacy in a class of Markov-switching rational expectations models"

 

- Sang-Hyun Kim, JOURNAL OF COMPARATIVE ECONOMICS, "On the optimal social contract: Agency costs of self-government"

 

- Semin Kim, GAMES AND ECONOMIC BEHAVIOR, "On the self-(in)stability of weighted majority rules"

 

- Jay Pil Choi, SCANDINAVIAN JOURNAL OF ECONOMICS, "Group contests with internal conflict and power asymmetry"

 

- Youjin Hahn, ILR REVIEW, "Do work decisions among young adults respond to extended dependent coverage?"

 

- Hyun-Seung Huh, JOURNAL OF APPLIED ECONOMETRICS, "Econometric methods for modelling systems with a mixture of I(1) and I(0) variables"

 

- Hyun-Seung Huh, JOURNAL OF MACROECONOMICS, "Monetary policy and exchange rates: Further evidence using a new method for implementing sign restrictions"

 

- Jong-Hee Hahn, JOURNAL OF INDUSTRIAL ECONOMICS, "Interfirm Bundled Discounts as a Collusive Device"

 

- Jaeok Park, ECONOMIC THEORY, "Second-price auctions with sequential and costly participation"

 

 

 

2015

- Yong Kim, AMERICAN ECONOMIC REVIEW, "The price of experience"

 

- Hyungsik Moon, ECONOMETRICA, "Linear regression for panel with unknown number of factors as interactive fixed effects"

 

- Jin Seo Cho, Taehwan Kim, JOURNAL OF ECONOMETRICS, "Quantile cointegration in the autoregressive distributed-lag modeling framework"

 

- Jin Seo Cho, JOURNAL OF ECONOMETRICS, "Testing linearity using power transforms of regressors"

 

- Seonghoon Cho, JOURNAL OF MONETARY ECONOMICS, "Macroeconomic regimes"

 

- Jay Pil Choi, RAND JOURNAL OF ECONOMICS, "Patent pools, litigation, and innovation"

 

- Jay Pil Choi, AMERICAN ECONOMIC JOURNAL-MICROECONOMICS, "Net Neutrality, Business Models, and Internet Interconnection"

 

- Jay Pil Choi, GAMES AND ECONOMIC BEHAVIOR, "Optimal compatibility in systems markets"

 

- Taehwan Kim, JOURNAL OF ECONOMETRICS, "VAR for VaR: Measuring tail dependence using multivariate regression quantiles"

 

- Seonghoon Cho, JOURNAL OF MACROECONOMICS, "Refining linear rational expectations models and equilibria"

 

- Jay Pil Choi, INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, "Monitoring, cross subsidies, and universal banking"

 

- Yun Jeong Choi, B.E. JOURNAL OF ECONOMIC ANALYSIS & POLICY, "Life insurance and suicide: Asymmetric information revisited"

 

- Jong-Hee Hahn, JOURNAL OF INSTITUTIONAL AND THEORETICAL ECONOMICS, "R&D investment, planned obsolescence, and network effects"

 

- Joocheol Kim, JOURNAL OF BANKING & FINANCE, "A parametric alternative to the Hill estimator for heavy-tailed distributions"

 

- Yong Kim, B.E. JOURNAL OF MACROECONOMICS, "Complementarity and transition to modern economic growth"

 

- Jaeok Park, JOURNAL OF MATHEMATICAL ECONOMICS, "Potential games with incomplete preferences"

 

- Seunghoon Lee, AMERICAN ECONOMIC JOURNAL: MICROECONOMICS, "Monopolistic competition and efficiency under firm heterogeneity and non-additive preferences"