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Faculty

프린트페이스북

Sunyoung Park

Ph.D. in Economics,
Yale University, 2011

Education

  • 2004.02 Seoul National University. Economics B.A.
  • 2007.05 Yale University. Economics M.A.
  • 2009.05 Yale University. Economics M.Phil.
  • 2011.05 Yale University. Economics Ph.D.

Research experience

  • 2010 : Consultant, Statlab, Yale University
  • 2014.7. : The Schoen Fellowship, International Center for Finance, Yale University.
  • 2011 ~ Current : Assistant Professor, Department of Industrial & Systems Engineering,KAIST

Research goal

  • Investigating financial intermediation process in the global and local banking system
  • Analyzing banking and regulation, financial intermediation and international financial market empirically

Research area


Derivative and securitized financial products
1
We are interested in understanding the role of derivatives and complex securitized products (e.g., equity-linked securities, asset backed commercial papers, and collateralized debt obligations) in the global and local financial system. 

Measuring Systemic risk
2
We develop a systemic risk measure that can help regulators to easily identify vulnerable channels of risk propagation in a macro-economy. We want our model to have both firm theoretical basis and computational tractability. Our research bears important implication for policy makers designing post-crisis regulatory framework.

Macroprudential Policy and its effectiveness
3
Given that macro-prudential regulation has become a new paradigm of regulatory framework after the global financial crisis, we examine its efficacy. Our conclusion comes from rigorous statistical examination of economic and newly collected financial data.

Structure of Korean housing market and mortgage financing 
4
We research on implication of a unique dual structure of the Korean housing market, with one being the sales market and the other being the Jeonse market. We constructed the most extensive Korean housing dataset containing all transactions from 2007. This unique and comprehensive dataset enables us to research on Korean housing transactions in micro-level. 
 

Selected publications

  • The Design of Subprime MBS and Information Insensitivity, International Economic Journal, Volume 27, Issue 2 Special Issue: Macroeconomic and Financial Stability in Emerging-Market Countries, 2013
  • The Anatomy of CDO: Why do ABS CDOs Exist. 2014
  • The Size of the Subprime Shock, 2013
  • Demystifying the Anatomy of Default Risk Contagion: A Nonparametric Approach
  • Wholesale Funding, Procyclicality, and Macroprudential Policy, 2013
  • Was the Establishment of Bank Holding Companies Socially Beneficial? Evidence from Korean financial sector, 2013
  • Korean Jeonse and Mortgage Market after Global Financial Crisis: An Aggregate and Micro-Level Analysis, 2013
  • The Effect of ELS Delta Hedging on the Underlying Asset Market, 2014
  • Captivation of Regulatory Arbitrage: Evidence from the Euro-Issued Asset-Backed Commercial Paper, 2014

Professional activities

  • Commendation of Deputy Prime Minister and the Minister of Strategy and Finance, Korea for great devotion to the stability and growth of the Korean Economy, 2014
  • Visiting Research Fellow, Bank of Korea, Daejeon&Chungnam, 2014~2015
  • Best Lecturer Award, Industrial and Systems Engineering, KAIST, 2012
  • Member of AEA, AFA, KEA, KFA, and Korean Financial Research Group.

Teaching

  • IE473, Financial Economics
  • IE573, Studies in Financial Economics
  • IE801, Special Topics in IE: Analysis of Financial Data

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