Research at the IMF: Jaewoo Lee

Jaewoo Lee

Last Updated: November 01, 2009

Background

Currently Deputy Division Chief in the Open Economy Macroeconomics Division of the IMF Research Department. Prior to this, Senior Economist in the Research Department, Economist in the Asia-Pacific Department, and Assistant Professor in the University of California at Irvine. Educated in MIT (Ph.D. 1992) and Seoul National University (B.A. 1985).

Email: JLEE3@imf.org

Fluent In: Korean.

Field of Expertise:

Open Economy Macroeconomics

Macro-Financial Issues

International Finance

IMF Publications

IMF Books and Working Papers:

Demographic Headwinds in Central and Eastern Europe , Departmental Paper No.19/12 , July 15, 2019

Demographics and Interest Rates in Asia , Working Paper No. 18/172 , July 27, 2018

In Which Exchange Rate Models Do Forecasters Trust? , Working Paper No. 11/116 , May 01, 2011

Forecasting U.S. Investment , Working Paper No. 10/246 , November 01, 2010

U.S. Consumption after the 2008 Crisis , Staff Position Note No. 2010/01 , January 15, 2010

The Valuation Channel of External Adjustment , Working Paper No. 09/275 , December 01, 2009

Accounting for Global Dispersion of Current Accounts , Working Paper No. 09/276 , December 01, 2009

The Case for Global Fiscal Stimulus , Staff Position Note No. 2009/03 , March 06, 2009

Exchange Rate Assessments : CGER Methodologies , Occasional Paper No. 261 , April 07, 2008

Real Exchange Rates and Fundamentals: A Cross-Country Perspective , Working Paper No. 08/13 , January 01, 2008

Financial Versus Monetary Mercantilism: Long-Run View of the Large International Reserves Hoarding , Working Paper No. 06/280 , December 01, 2006

A Fair Exchange? Theory and Practice of Calculating Equilibrium Exchange Rates , Working Paper No. 05/229 , December 01, 2005

International Reserves: Precautionary vs. Mercantilist Views, Theory, and Evidence , Working Paper No. 05/198 , October 01, 2005

New Rates from New Weights , Working Paper No. 05/99 , May 01, 2005

GEM: A New International Macroeconomic Model , Occasional Paper No. 239 , November 30, 2004

Insurance Value of International Reserves: An Option Pricing Approach , Working Paper No. 04/175 , September 01, 2004

Does Productivity Growth Lead to Appreciation of the Real Exchange Rate? , Working Paper No. 03/154 , July 01, 2003

Current Account and Real Exchange Rate Dynamics in the G-7 Countries , Working Paper No. 02/130 , August 01, 2002

Other Published Materials

To Float or Not to Float, Book Review of Too Sensational: On the Choice of Exchange Rate Regimes by W. Max Corden, Finance Development, September 2003, pp.53-4.

Evolution of the Policy on Noninternationalization of the Singapore Dollar, Singapore: Selected Issues , IMF: Washington, D.C., 2001

Non-IMF Publications

Other Published Materials

Demographics and Interest Rates in Asia, joint with Serkan Arslanalp and Umang Rawat, (IMF Working Paper 18/172), {\em Japan and the World Economy}, 50(C), 14-24, 2019.

China and Asia in Global Trade Slowdown, joint with Gee Hee Hong, Wei Liao, and Dulani Seneviratne (IMF Working Paper 16/105), {\em Journal of International Commerce, Economics and Policy}, 8(1), 2017

The Valuation Channel of External Adjustment, joint with Fabio Ghironi and Alessandro Rebucci, {\em Journal of International Money and Finance}, 57, 86-114, 2015.

Imbalances over the Pacific, joint with Soyoung Kim, {\em Journal of Macroeconomics}, 2015.

International Macroeconomic Fluctuations: A New Open Economy Macroeconomics Interpretation, joint with Soyoung Kim (HKIMR Working paper, 2008), {\em Macroeconomic Dynamics}, 2014.

In Which Exchange Rate Models Do Forecasters Trust? joint with David Hauner and Hajime Takizawa, {\it Applied economics letters}, 2014.

Real Exchange Rates and Fundamentals: A Cross-Country Perspective, joint with Luca Ricci and Gian Maria Milesi-Ferretti, {\it Journal of Money, Credit and Banking}, 45(5), 845--65, August 2013

From the Great Moderation to the Global Crisis: Exchange Market Pressure in the 2000s, joint with Joshua Aizenman and Vladyslav Sushko, {\it Open Economies Review} 23(4), 597-621, September, 2012.

Monetary Policy of the Bank of Korea During the First Sixty Years, joint with Kyungsoo Kim, {\em Seoul Journal of Economics}, 24(4), pp. 495-524, 2011.

Real Exchange Rate, Mercantilism, and the Learning by Doing Externality, joint with Joshua Aizenman, {\em Pacific Economic Review}, 15 (3): 324-35, 2010.

Global Dispersion in Current Accounts: Is the Universe Expanding? joint with Hamid Faruqee, {\em IMF Staff Papers}, 56 (3): 574-95, 2009.

Option Pricing Approach to International Reserves, Review of International Economics, 2009

Global Dispersion in Current Accounts: Is the Universe Expanding? joint with Hamid Faruqee, IMF Staff Papers, 2009

Three Current Accounts--A Semi-structuralist interpretation, joint with Menzie Chinn, Japan and the World Economy, 21: 202-12, 2009.

Financial Versus Monetary Mercantilism--Long-Run View of Large International Reserves Hoarding, joint with Joshua Aizenman, {\em The World Economy}, May 2008 issue Vol. 31 (5).

International Reserves: Precautionary vs. Mercantilist Views, Theory and Evidence (joint with Joshua Aizenman), Open Economies Review, 18(2): 191-214, 2007.

Transfer Effect in National Price Levels, Weltwirtschaftliches Archiv (Review of World Economics), 143(3): 534-556, 2007

Does Productivity Growth Lead to Appreciation of the Real Exchange Rate?, joint with Man-Keung Tang. {\it Review of International Economics}, 15(1): 164-187, 2007.

Current Account and Real Exchange Rate Dynamics in the G-7 Countries (joint with Menzie Chinn), Journal of International Money and Finance, 25:257-74, 2006.

New Rates from New Weights, joint with Tamim Bayoumi and Sarma Jayanthi, {\it IMF Staff Papers}, 53(2):272-305, 2006.

Political Influence and the Dynamic Consistency of Policy (joint with Michelle Garfinkel), American Economic Review, 90(3):667-680, 2000.

The Role of a Variable Input in the Relationship between Investment and Uncertainty. (joint with Kwanho Shin), American Economic Review, 90(3):649-666, 2000.

Asset Price and Current Account Dynamics (joint with Kyung-Soo Kim), International Economic Journal, 15(3):85-108, 2001.

Election Surprises and Exchange Rate Uncertainty. (joint with Michelle Garfinkel and Amihai Glazer), Economics and Politics , 11(3):255-74,1999.

The Effect of Exchange Rate Volatility on Trade in Durables, Review of International Economics, 7(2):189-201, 1999

Intertemporal Substitution in Imported Durables, Journal of International Economics, 44:113-133, 1998

Reexamination of Dynamic Efficiency with Taxation on Land (joint with Kyung-Soo Kim), Economics Letters, 57(2):169--175, 1997.

The Response of Exchange Rate Pass-Through to Market Concentration in a Small Economy: The Evidence from Korea, Review of Economics and Statistics, 79(1):142--145. February 1997.

Financial Development by Learning, Journal of Development Economics, 50(1):147--164, August 1996.

Pricing to Market in Korean Manufacturing Exports, {\em International Economic Journal}, 9(4):1--12, Winter 1995.

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