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 international academic journals, including B.E. Journal of Macroeconomics: Advances, International Journal of Central Banking, Journal of Economic Behavior and Organization, Journal of Economic Dynamics and Control, Journal of International Money and Finance, Journal of Macroeconomics, Macroeconomic Dynamics, 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.
Address: School of Economics, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul, Korea
Click here for a downloadable CV (September 2023)
Research and Teaching Interests
Primary: International Finance
Secondary: Macroeconomics, Financial Markets, Banking
October 2023. My new working paper "Heterogeneity in the effects of uncertainty shocks on labor market dynamics and extensive vs. intensive margins of adjustment" is now available.
October 2023. My new working paper "Geopolitical risk and 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 "Revisiting the monetary transmission mechanism through an industry-level differential approach" is now available with a non-technical summary.
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.
August 2022. My new working paper "Impact of uncertainty shocks on income and wealth inequality" is now available.
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.
February 2022. My new policy work "Boom-bust cycles revisited: the role of credit supply" is now available.
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.
The 13th KIEP-IMF Joint Conference discussion on China shock and spillovers (November 29, 2023)
Global Financial Conference panel discussion on "The Great Depression, Bankruptcy of Lehman Brothers, and Today: Beyond Inflation" (April 27, 2023)
Asian Leadership Conference panel discussion on strong dollar and global economic outlook (November 9, 2022)
My interview with Arirang News about understanding impact of high interest rates (July 27, 2022)
My interview with Arirang News about ensuring financial stability amid efforts to tame inflation (July 20, 2022)
My talk at the IMF Spring Meeting about how data transparency pays off (April 18, 2017)