Sangyup Choi
연세대학교 경제학부 · 경제학
Sangyup Choi 교수의 연구실은 국제자본유동, 정책 불확실성, 금융 채널의 영향에 초점을 맞춘 거시경제 및 금융 정책 분석을 주요 연구 분야로 다룹니다. 특히 정책 불확실성과 글로벌 유동성 변화가 외국인 직접투자(FDI), 은행 자금 유동성, 산업별 생산성에 미치는 영향을 다이나믹한 패널 데이터와 고도의 정량적 방법론을 통해 규명합니다. 연구는 기업의 외부 금융 의존도, 자산 담보 가능성, 경기순환 등 구조적 특성과의 상호작용을 고려하여 깊이 있는 정책적 통찰을 제공합니다.
표시된 성과는 수집된 데이터 기준으로 산출되며, 일부 차이가 있을 수 있습니다.
Abstract While foreign direct investment (FDI) is known to be the most stable type of international capital flows, it may be particularly susceptible to heightened uncertainty because of its high fixed costs. We investigate the effect of domestic policy uncertainty on FDI inflows into 16 host countries using the OECD bilateral FDI panel data set and the economic policy uncertainty index from 1985 to 2013. The bilateral structure of the data enables us to disentangle pull factors of FDI from its
We combine industry-level data on output and prices with monetary policy shock estimates for 105 countries to analyze how the effects of monetary policy vary with industry characteristics. Next to being interesting in their own right, our findings are informative on the importance of various transmission mechanisms (as they are thought to vary systematically with the included characteristics). Results suggest that monetary contractions reduce output by more in industries featuring assets that ar
We study the impact of fluctuations in global oil prices on domestic inflation using an unbalanced panel of 72 advanced and developing economies over the period from 1970 to 2015. We find that a 10 percent increase in global oil inflation increases, on average, domestic inflation by about 0.4 percentage point on impact, with the effect vanishing after two years and being similar between advanced and developing economies. We also find that the effect is asymmetric, with positive oil price shocks
