Macroeconomist @AtlantaFed working on monetary and fiscal policy. Views are my own. @UTAustinEcon Ph.D.
Atlanta, GA
Joined October 2010
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I'm very excited to share that I joined @AtlantaFed as a Research Economist and Assistant Advisor! Grateful for my incredible colleagues at @federalreserve and looking forward to this next chapter in Atlanta!
Choongryul Yang retweeted
New paper with @nityanayar and Hirosh on rare earth supply chains!
We study China's strategic overproduction in refining to block Western entry.
Chokepoint isn't mining, which is quite diversified. It's refining, where China produces 90% of world.
New working paper:
Rare Earth Supply Chains: Predatory Pricing forStrategic Dominance
by @JaedoChoi, @nityanayar and Hiroshi Toma
Link to the paper: sites.utexas.edu/macro/2026/…
Choongryul Yang retweeted
This #IFDPPaper shows that when firms serve foreign markets through overseas affiliates, currency depreciation can raise income earned abroad without generating a comparable domestic production boom. federalreserve.gov/econres/i… #EconTwitter
ALT Figure 7: Foreign-Market Organization and Exchange-Rate Transmission
Choongryul Yang retweeted
With yen depreciation again in focus, BOJ Deputy Governor Himino recently pointed to higher earnings of Japanese global firms as one of its potential benefits. Our new paper (with Ryan Kim, Bin Ni, and @_ChoongYang) asks what these overseas earnings mean for activity at home.
This #IFDPPaper shows that when firms serve foreign markets through overseas affiliates, currency depreciation can raise income earned abroad without generating a comparable domestic production boom. federalreserve.gov/econres/i… #EconTwitter
ALT Figure 7: Foreign-Market Organization and Exchange-Rate Transmission
Choongryul Yang retweeted
We are hiring! See postings below.
We are hiring on the seasoned market at the Atlanta Fed:
HH finance: aeaweb.org/joe/listing.php?J…
Labor (even better if you can do both applied with admin data + you know macro-labor) aeaweb.org/joe/listing.php?J…
Macro (and macro-finance, financial intermediation) aeaweb.org/joe/listing.php?J…
Choongryul Yang retweeted
Taking place tomorrow at @UTAustinEcon: first edition of the CMT Expectations conference, organized by @BachmannRudi, @YGorodnichenko and Oli Coibion.
We are looking forward to a great program and a fantastic keynote speech by @S_Stantcheva
On my way to Austin TX, for our first ever CMT Expectation conference, organized jointly with @YGorodnichenko and Oli Coibion. Keynote by the great @S_Stantcheva !
Looking forward to it!
Choongryul Yang retweeted
The St. Louis Fed is looking to recruit research economists with experience in monetary and fiscal policy modeling. Please apply if you work on these topics, or share with your network if you know of someone who does. Must be authorized to work in the US.
rb.wd5.myworkdayjobs.com/FRS…
Choongryul Yang retweeted
R.I.P. Christopher Sims (21 Oct. 1942 - 14 March 2026)
- a giant in macroeconomics and one of the finest human beings I have ever met -
Choongryul Yang retweeted
Super excited to be giving this lecture at @vox_dev!
With @SposiMichael, I'll be discussing about industrial development, export-led growth, and industrial policy.
Many thanks to @vox_dev for this opportunity.
💻 Free online lecture: Export-led growth & industrial policy
On Wednesday February 25th (15:00 GMT), @JaedoChoi and @SposiMichael will review export-led growth and industrial policy.
Register here: cepr-org.zoom.us/webinar/reg…
Happy to share our new paper, "Attention-Dependent Monetary Transmission to Household Beliefs," co-authored with Jaemin and Eunseong.
Why does the same policy action from the Fed sometimes have different effects? Our paper shows that it depends on who is paying attention.
Household attention acts as a crucial gatekeeper for monetary policy's effect on expectations. New #FEDSPaper shows this channel is most potent when people are already paying attention during recessions and among those with high financial stakes. federalreserve.gov/econres/f…
We develop a model and use survey data to show MP only affects inflation expectations of those who are actively paying attention, and this expectations channel is most powerful during uncertain times and among people with higher financial stakes, like stockholders and homeowners.
This suggests the effectiveness of monetary policy isn't constant—it hinges on the shifting landscape of public attention. I hope you'll find it an interesting read! Comments and feedback are very welcome!
#EconTwitter #MonetaryPolicy #Inflation #Economics #FEDS
Choongryul Yang retweeted
Household attention acts as a crucial gatekeeper for monetary policy's effect on expectations. New #FEDSPaper shows this channel is most potent when people are already paying attention during recessions and among those with high financial stakes. federalreserve.gov/econres/f…
Choongryul Yang retweeted
Looking forward to @SEDmeeting in Copenhagen from tomorrow!
Come and check out our session on Housing and Rental Markets on Saturday, with @andyecon and @_ChoongYang. I'll be presenting my recent paper on the "Home Purchase Channel of Expenditure".
I’m excited to present our paper “What can measured beliefs tell us monetary non-neutrality?” with @hafrouzi and @joel_flynn at this great conference at the ECB on Tuesday morning! Looking forward to interacting with many leading scholars in this field!
Our joint conference with the Bank of Canada and the Federal Reserve Bank of New York on Expectations Surveys, Central Banks and the Economy kicks off on Tuesday. Follow live from 9:00 CET
ecb.europa.eu/press/conferen…
Choongryul Yang retweeted
Our joint conference with the Bank of Canada and the Federal Reserve Bank of New York on Expectations Surveys, Central Banks and the Economy kicks off on Tuesday. Follow live from 9:00 CET
ecb.europa.eu/press/conferen…
Choongryul Yang retweeted
How can measured beliefs elucidate the real effects of monetary shocks? The authors highlight the interaction between firms’ beliefs & price-setting behaviors, revealing the crucial role of cross-sectional data on uncertainty & pricing durations. federalreserve.gov/econres/f…
I'm excited that our new paper will be presented today in the Impulse and Propagation Mechanism session of the NBER SI, which will be live-streamed at 11:15 ET via YouTube. Watch it here 😀: youtube.com/live/ci5HzGJZduQ…
Studying how measured beliefs can be used to identify monetary non-neutrality, from @hafrouzi, @joel_flynn, and @ChoongYang nber.org/papers/w32541
Choongryul Yang retweeted
Studying how measured beliefs can be used to identify monetary non-neutrality, from @hafrouzi, @joel_flynn, and @ChoongYang nber.org/papers/w32541
Very excited to see our paper "Effects of monetary policy on household expectations: The role of homeownership" (with Hie Joo Ahn and
@ShihanXie ) is now available online in the Journal of Monetary Economics! 👇1/4 sciencedirect.com/science/ar…
We build a rational inattention model to characterize this empirical finding, highlighting how mortgage payments create an incentive for homeowners to acquire information on monetary policy. 3/4
Our model predicts limited pass-through of forward guidance shocks into perceived real rates and muted effects on the economy due to rational inattention motives, resulting in a slower understanding and response to the announced monetary policy shocks. 4/4 #econtwitter