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Juniorprofessorin Boreum Kwak, Ph.D.

Juniorprofessorin Boreum Kwak, Ph.D.
Aktuelle Position

seit 10/16

Leiterin der Forschungsgruppe Makroökonomische Stabilisierung und natürliche Umwelt

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 12/16

Juniorprofessorin für Makroökonometrie

Martin-Luther-Universität Halle-Wittenberg

seit 10/16

Mitglied der Abteilung Makroökonomik

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

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Forschungsschwerpunkte
  • Geldpolitik
  • Policy Interaction
  • endogenes Regime-Switching-Modell
  • Mixed-Frequency-Modell

Boreum Kwak wurde im Dezember 2016 von der Martin-Luther-Universität Halle-Wittenberg zur Juniorprofessorin für Makroökonometrie berufen. Sie ist darüber hinaus seit Oktober 2016 Mitarbeiterin der Abteilung Makroökonomik am IWH. Ihre Forschungsinteressen liegen im Bereich Makroökonomik und Geldpolitik. Aktuell beschäftigt sie sich unter anderem mit der Vorhersage makroökonomischer Variablen mittels Daten des Hochfrequenzhandels an den Finanzmärkten.

Boreum Kwak studierte an der Sungkyunkwan University in Südkorea. Ihre Promotion erfolgte an der Indiana University.

Ihr Kontakt

Juniorprofessorin Boreum Kwak, Ph.D.
Juniorprofessorin Boreum Kwak, Ph.D.
Mitglied - Abteilung Makroökonomik
Nachricht senden +49 345 7753-851

Publikationen

Alle referierten Publikationen durchsuchen

Arbeitspapiere

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U.S. Monetary and Fiscal Policy Regime Changes and Their Interactions

Yoosoon Chang Boreum Kwak Shi Qiu

in: IWH Discussion Papers, Nr. 12, 2021

Abstract

We investigate U.S. monetary and fiscal policy interactions in a regime-switching model of monetary and fiscal policy rules where policy mixes are determined by a latent bivariate autoregressive process consisting of monetary and fiscal policy regime factors, each determining a respective policy regime. Both policy regime factors receive feedback from past policy disturbances, and interact contemporaneously and dynamically to determine policy regimes. We find strong feedback and dynamic interaction between monetary and fiscal authorities. The most salient features of these interactions are that past monetary policy disturbance strongly influences both monetary and fiscal policy regimes, and that monetary authority responds to past fiscal policy regime. We also find substantial evidence that the U.S. monetary and fiscal authorities have been interacting: central bank responds less aggressively to inflation when fiscal authority puts less attention on debt stabilisation, and vice versa.

Publikation lesen
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Financial Technologies and the Effectiveness of Monetary Policy Transmission

Iftekhar Hasan Boreum Kwak Xiang Li

in: IWH Discussion Papers, Nr. 26, 2020

Abstract

This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with regional-level FinTech adoption. Results indicate that FinTech adoption generally mitigates monetary policy transmission to real GDP, consumer prices, bank loans, and housing prices. A subcategorical analysis shows that the muted transmission is the most pronounced in the adoption of FinTech payment and credit, compared to that of insurance. The regulatory arbitrage and competition between FinTech and banks are the possible mechanisms leading a mitigated monetary policy transmission.

Publikation lesen
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Exchange Rates and the Information Channel of Monetary Policy

Oliver Holtemöller Alexander Kriwoluzky Boreum Kwak

in: IWH Discussion Papers, Nr. 17, 2020

Abstract

We disentangle the effects of monetary policy announcements on real economic variables into an interest rate shock component and a central bank information shock component. We identify both components using changes in interest rate futures and in exchange rates around monetary policy announcements. While the volatility of interest rate surprises declines around the Great Recession, the volatility of exchange rate changes increases. Making use of this heteroskedasticity, we estimate that a contractionary interest rate shock appreciates the dollar, increases the excess bond premium, and leads to a decline in prices and output, while a positive information shock appreciates the dollar, decreases prices and the excess bond premium, and increases output.

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Schlagworte

Geldpolitik
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