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Sangyup (Sam) Choi is an Associate Professor at the School of Economics of Yonsei University where he also holds a Lee Youn Jae Rising Fellowship Professor.  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 the 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, a B.A. in Economics from Yonsei University in 2009, and 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, transmission channels of monetary and fiscal policy and their international spillovers. He has published over twenty articles in renowned international academic journals, including the Journal of Monetary Economics, Journal of Money, Credit and Banking, Journal of Economic Dynamics and Control, International Journal of Central Banking, Macroeconomic Dynamics, Journal of International Money and Finance, Journal of Economic Behavior and Organization, B.E. Journal of Macroeconomics: Advances, Journal of Macroeconomics, Oxford Economic Papers, and Review of International Economics. He received the Lee Youn Jae Rising Fellowship in 2023, the Choheon Academic Award in 2022, the Korea Economic Research Award in 2022, and the university-wide research excellence awards in 2020 and 2022. He was listed among young and influential economists in Korea by Chosun Biz.

Email: sangyupchoi@gmail.com (for research and personal); sangyupchoi@yonsei.ac.kr (for teaching and admin)

Web:  www.sangyupchoi.com 

Address: School of Economics, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul, Korea    

Click here for a downloadable CV (February 2024)

Research and Teaching Interests

Primary: International Finance

Secondary: Macroeconomics, Financial Markets, Banking

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[Featured in Roger Farmer's Economic Window] [Featured in Yonsei Research Magazine] [Featured in Yonsei News] 

[News]

• April 2024. My paper "Heterogeneity in the effects of uncertainty shocks on labor market dynamics and extensive vs. intensive margins of adjustment" is now forthcoming in the Journal of Economic Dynamics and Control.

• February 2024. My paper "Revisiting the monetary transmission mechanism through an industry-level differential approach" is now forthcoming in the Journal of Monetary Economics. Our new monetary policy shock estimate data can be downloaded here.

• January 2024. My paper "Impact of uncertainty shocks on income and wealth inequality" is now forthcoming in the Journal of Money, Credit and Banking.

• October 2023. My new working paper "Geopolitical risk perception and U.S. foreign portfolio investment: a tale of advanced and emerging markets" is now available.

• September 2023. I am on sabbatical leave (visiting the Bank of Korea until August 2024). I will also be organizing a bi-monthly international finance seminar hosted by the Korea International Finance Association and the Bank of Korea Economic Research Institute. If you are interested in presenting at the seminar, please email me.

• June 2023. My new working paper "News or animal spirits? Consumer confidence and economic activity: redux" is now available with a non-technical summary.

• March 2023. My paper "Household indebtedness and the macroeconomic effects of tax changes" is now forthcoming in the Journal of Economic Behavior and Organization.

• January 2023. My new working paper "One monetary policy and two bank lending standards: a tale of two Europes" is now available.

• October 2022. My paper "Is domestic uncertainty a local pull factor driving foreign capital inflows? New cross-country evidence" is now forthcoming in the Journal of International Money and Finance.

• April 2022. My paper "Are government spending shocks inflationary at the zero lower bound? New evidence from daily data" is now forthcoming in the Journal of Economic Dynamics and Control.

• November 2021. My paper "Inflation anchoring and growth: the role of credit constraints" is forthcoming in the Journal of Economic Dynamics and Control with a non-technical summary 

• October 2021. My paper "Bank lending standards, loan demand, and the macroeconomy: evidence from the Korean bank loan officer survey" is forthcoming in the International Journal of Central Banking.

• September 2021. My paper "Heterogeneous gains from countercyclical fiscal policy: new evidence from international industry-level data" is forthcoming in Oxford Economic Papers.

• June 2021. My paper "Labor market dynamics under technology shocks: the role of subsistence consumption" is forthcoming in Macroeconomic Dynamics. 

• May 2021. My paper "Uncertainty, financial markets, and monetary policy over the last century" is forthcoming in the B.E. Journal of Macroeconomics: Advances.