Research
□ Work in Progress
• “Moment Matching for Bayesian Inference in a New-Keynesian Baseline Model” (with T. Lux and S. Sacht).
• "Financial Fragility, Structural Instability, and Portfolio Investment: Evolutionary Dynamics Revisited," (with N. Cho).
□ Selected Publications
• “Macroeconomic Dynamics under Bounded Rationality: On the Impact of Consumers' Forecast Heuristics,” (with S. Sacht) Journal of Economic Interaction and Coordination, 17, pp. 849-873 (2022).
• “Forecast Heuristics, Consumer Expectations, and New-Keynesian Macroeconomics: A Horse Race,” (with S. Sacht) Journal of Economic Behavior & Organization, 182, pp. 493–511 (2021).
• “Animal Spirits in an Open Economy: An Interaction-based Approach to the Business Cycle,” B.E. Journal of Macroeconomics (Contributions), 20(1): 1–16 (2020).
• “Asset Market Volatility and New Keynesian Macroeconomics: A Game-theoretic Approach,” (with N. Cho) Computational Economics, 54(1): 245–266 (2019).
• “Animal Spirits and the Business Cycle: Empirical Evidence from Moment Matching,” (with S. Sacht) Metroeconomica, 67(1): 76–113 (2016).
• “Moment Matching versus Bayesian Estimation: Backward-looking Behaviour in a New-Keynesian Baseline Model,” (with R. Franke and S. Sacht) North American Journal of Economics and Finance, 31: 126–154 (2015).
• “Identification of Social Interaction Effects in Financial Data,” Computational Economics, 45(2): 207–238 (2015).
□ Books
(in English)
• “A Formal Test of Behavioral Heterogeneity: The Case of a Structural Stochastic Volatility Model,” Chapter 12 in: Y. Nakai, Y. Koyama, T. Terano (eds.), Agent-Based Approaches in Economic and Social Complex Systems VIII: Post-Proceedings of The AESCS International Workshop 2013 (2015).
• “Structural Estimation of the New-Keynesian Model: A Formal Test of Backward- and Forward-looking Behavior,” in: N. Balke, F. Canova, F. Milani, and M. Wynne (eds.), DSGE Models in Macroeconomics: Estimation, Evaluation, and New Development, Advances in Econometrics 28, Emerald Group Publishing Limited, 421-467 (2012).
• “South Korea's Aid to North Korea's Transformation Process: Social Market Perspective,” in: B. Seliger, J. Sepp, and R. Wrobel (eds.), Das Konzept der Sozialen Marktwirtschaft und seine Anwendung: Deutschland im internationalen Vergleich, Peter Lang, 289-299 (2009)
(in Korean)
• '한국 경제의 기적과 환상' (The Miracle and Mirage of the Korean Economy), 북코리아(2020).
• '사회적 시장경제와 독일의 경제정책' (Soziale Marktwirtschaft und Wirtschaftspolitik in Deutschland), 양서각(2018).
• '독일 제조업 경쟁력 요인 분석과 시사점' (Determinants of German Industrial Competitiveness and their Implications for Korean Competitiveness Policy), 산업연구원 연구보고서(2013).