@article{ghironi_kim_ozhan_2024, title={International Economic Sanctions and Third-Country Effects}, volume={1}, ISSN={["2041-417X"]}, url={https://doi.org/10.1057/s41308-023-00232-9}, DOI={10.1057/s41308-023-00232-9}, journal={IMF ECONOMIC REVIEW}, author={Ghironi, Fabio and Kim, Daisoon and Ozhan, Galip Kemal}, year={2024}, month={Jan} }
 @article{kim_savagar_2023, title={Firm revenue elasticity and business cycle sensitivity}, volume={154}, ISSN={["1879-1743"]}, url={http://dx.doi.org/10.1016/j.jedc.2023.104722}, DOI={10.1016/j.jedc.2023.104722}, abstractNote={We show that it is not necessary to have price and quantity data separately in order to study firm responses to business cycle shocks. We explain that revenue elasticities, which measure the response of firm revenue to input changes and combine price and quantity data, are sufficient to understand business cycle amplification. We present theory to show that higher revenue elasticity firms generate greater business cycle amplification. We use US data to measure revenue elasticities at the firm level, and we show that higher revenue elasticity firms respond more to business cycle shocks, consistent with our theory. We conclude that trends towards lower revenue elasticity firms implies weaker business cycle amplification over time.}, journal={JOURNAL OF ECONOMIC DYNAMICS & CONTROL}, publisher={Elsevier BV}, author={Kim, Daisoon and Savagar, Anthony}, year={2023}, month={Sep} }
 @article{mehra_kim_2023, title={Skilled immigration, offshoring, and trade}, volume={146}, ISSN={["1879-1743"]}, url={http://dx.doi.org/10.1016/j.jedc.2022.104579}, DOI={10.1016/j.jedc.2022.104579}, abstractNote={We develop a dynamic general equilibrium model with skilled immigration, offshore labor hiring, and intermediate input trade to study the impact of skilled immigration policy changes in the US. Consistent with the data, the model accounts for a small subset of large firms that adjust offshore labor hiring in response to skilled immigration policy changes. Our calibrated model that matches the US economy shows that if we ignore the offshoring channel, we would overstate welfare gains to skilled domestic wage earners by approximately 20 percent following a 10 percent immigration cap reduction. The paper highlights the importance of considering the interactions between immigration, offshoring, and trade when studying the impacts of skilled immigration policy on domestic labor markets and trade.}, journal={JOURNAL OF ECONOMIC DYNAMICS & CONTROL}, publisher={Elsevier BV}, author={Mehra, Mishita and Kim, Daisoon}, year={2023}, month={Jan} }
 @article{coimbra_kim_rey_2022, title={Central Bank Policy and the concentration of risk: Empirical estimates}, volume={125}, ISSN={["1873-1295"]}, DOI={10.1016/j.jmoneco.2021.08.002}, abstractNote={Before the 2008 crisis, the cross-sectional skewness of banks’ leverage went up and macro risk concentrated in the balance sheets of large banks. Using a model of profit-maximizing banks with heterogeneous Value-at-Risk constraints, we extract the distribution of banks’ risk-taking parameters from balance sheet data. The time series of these estimates allow us to understand systemic risk and its concentration in the banking sector over time. Counterfactual exercises show that (1) monetary policymakers confront the trade-off between stimulating the economy and financial stability, and (2) macroprudential policies can be effective tools to increase financial stability.}, journal={JOURNAL OF MONETARY ECONOMICS}, author={Coimbra, Nuno and Kim, Daisoon and Rey, Helene}, year={2022}, month={Jan}, pages={182–198} }
 @article{kim_2021, title={Economies of scale and international business cycles}, volume={131}, ISSN={["1873-0353"]}, url={http://dx.doi.org/10.1016/j.jinteco.2021.103459}, DOI={10.1016/j.jinteco.2021.103459}, abstractNote={This paper incorporates sloping marginal cost curves and their variations across industries into an open macro model, motivated by the fact that industries’ output, imports, and exports are more procyclical when their economies of scale arise from sloping marginal cost curves rather than fixed costs. The model, consistent with the data, delivers endogenous within-firm interdependence across markets and export gains/losses, which reproduce observed industrial business cycle patterns as well as more correlated aggregate business cycles across countries. The findings highlight the importance of marginal cost structures in international business cycle research.}, journal={JOURNAL OF INTERNATIONAL ECONOMICS}, publisher={Elsevier BV}, author={Kim, Daisoon}, year={2021}, month={Jul} }