Underwood International College

Associate Professor, School of Economics

Profile

Sangyup (Sam) Choi is an Associate Professor at the School of Economics of Yonsei University. He is also a Research Associate at the Centre for Applied Macroeconomic Analysis (CAMA) of the Australian National University and the Global Research Unit of the City University of Hong Kong. Prior to joining Yonsei University, he was an economist (Economist Program) at the Middle East and Central Asia Department of International Monetary Fund. Previously, he also worked in the IMF’s Statistics Department and the Research Department. He received a Ph.D. in Economics from UCLA in 2015, B.A. in Economics from Yonsei University in 2009, and also studied at UC Berkeley from 2007 to 2008. His primary field of research is international finance. His research, thus far, has focused on credit market imperfections, fluctuations in uncertainty, credit channel of monetary policy, and international spillovers with a focus on emerging market economies.

Education

Ph.D. in Economics, UCLA (2015)
B.A. in Economics, Yonsei University (2009)

Courses and Current Research Areas

Courses

Undergraduate Courses: Analysis of International Financial Market, Macroeconomics, Honors Program in Economics
Graduate Courses: International Finance, Global Economy, Technology and Humanities Seminar, The Global Economy in a New Normal World: Macroeconomic Perspectives

Current Research Areas

International Finance, Financial Markets, Macroeconomics, Banking

Selected Publications

• Choi, Sangyup and Myungkyu Shim. Labor market dynamics under technology shocks: the role of subsistence consumption. Macroeconomic Dynamics (forthcoming)
• Choi, Sangyup, Davide Furceri and João Tovar Jalles. Heterogeneous gains from countercyclical fiscal policy: new evidence from international industry-level data. Oxford Economic Papers (forthcoming)
• Choi, Sangyup and Chansik Yoon. Uncertainty, financial markets, and monetary policy over the last century. B.E. Journal of Macroeconomics: Advances (forthcoming)
• Choi, Sangyup and Junhyeok Shin. Bitcoin: an inflation hedge but not a safe haven Finance Research Letters (forthcoming)
• Choi, Sangyup, Davide Furceri, Prakash Loungani, and Myungkyu Shim. Inflation anchoring and growth: the role of credit constraints. Journal of Economic Dynamics and Control January 2022, 134, 104279.
• Choi, Sangyup. Bank lending standards, loan demand, and the macroeconomy: evidence from the Korean bank loan officer survey. International Journal of Central Banking December 2021, 17.5: 1-46. (Lead Article)
• Choi, Sangyup, Davide Furceri, and Chansik Yoon. Policy uncertainty and foreign direct investment. Review of International Economics May 2021, 29(2), pp 195-227.
• Choi, Sangyup, Davide Furceri, and Chansik Yoon. International fiscal-financial spillovers: the effect of fiscal shocks on cross-border bank lending. Open Economies Review April 2021, 32(2), pp 259-290.
• Albirizio, Silvia, Sangyup Choi, Davide Furceri, and Chansik Yoon. International bank lending channel of monetary policy. Journal of International Money and Finance April 2020, 102, 102124.
• Choi, Sangyup. Changes in the effects of bank lending shocks and development of public debt markets. Finance Research Letters March 2020, 33, 101225.
• Choi, Sangyup and Davide Furceri. "Uncertainty and cross-border banking flows" Journal of International Money and Finance May 2019, 93, pp 260-274.
• Choi, Sangyup and Myungkyu Shim. "Financial vs. policy uncertainty in emerging market economies" Open Economies Review April 2019, 30(2), pp 297-318.
• Choi, Sangyup, Davide Furceri, Yi Huang, and Prakash Loungani. "The effect of aggregate uncertainty on sectoral productivity growth: the role of credit constraints" Journal of International Money and Finance November 2018.
• Choi, Sangyup and Yuko Hashimoto. "Does transparency pay? Evidence from IMF data transparency policy reforms and emerging market sovereign bond spreads" Journal of International Money and Finance November 2018.
• Choi, Sangyup, Davide Furceri, Prakash Loungani, Saurabh Mishra, and Marcos Poplawski-Ribeiro. "Oil prices and inflation dynamics: evidence from advanced and developing economies" Journal of International Money and Finance April 2018.
• Choi, Sangyup. "The impact of US financial uncertainty shocks on emerging market economies: an international credit channel" Open Economies Review February 2018.
• Choi, Sangyup. "Variability in the effects of uncertainty shocks: new stylized facts from OECD countries" Journal of Macroeconomics September 2017.
• Choi, Sangyup and Prakash Loungani. "Uncertainty and unemployment: the effects of aggregate and sectoral channels" Journal of Macroeconomics December 2015.
• Choi, Sangyup. "Are the effects of Bloom’s uncertainty shocks robust?" Economics Letters May 2013.

More Information

Webpage: https://www.sangyupchoi.com