- Ph.D., Yale University, 1995
Yoosoon Chang
Professor
- yoosoon@iu.edu
- (812) 855-8035
- Wylie Hall 354
- Office Hours
Education
About Yoosoon Chang
Dr. Chang is a Professor of Economics at Indiana University with a Ph.D. in Economics from Yale University. She is an Advisor of the Stone Center for Research in Wealth Inequality and Mobility (SCRWIM) in the Harris School of Public Policy at University of Chicago, an Executive Committee member of the Institute of Korean Studies in the School of Global and International Studies at Indiana University, an Adjunct Researcher at the BI Norwegian Business School, and a Visiting Distinguished Fellow of Samsung Global Research (SGR). She previously served as the Head of the Department for the Department of Economics at Texas A&M University and the Director of Graduate Studies at Indiana University. Her other current professional responsibilities include her roles as the Coordinator of Midwest Econometrics Group (MEG), Organizer of Symposium of Econometric Theory and Applications (SETA), Co-organizer of the Workshop on Energy Economics, an Executive Committee member of Studies in Nonlinear Dynamics & Econometrics (SNDE), President-elect of Korea America Economic Association (KAEA), and a member of Editorial Board of Journal of Economic Literature, Associate Editor of Journal of Applied Econometrics, Journal of Econometrics, Journal of Time Series Econometrics and SNDE. She was a Visiting Professor at the University of Chicago, Keio University, BI Norwegian Business School, Fudan University, University of Tokyo and Yale University. She is the recipient of 2022 Maekyung-KAEA Economist Award, and an elected fellow of Journal of Econometrics and International Association for Applied Econometrics.
Dr. Chang's current research interests include the application of various time series, panel data, and machine learning models to facilitate the implementation of frontier theories and methodologies for practically relevant inference in a broad range of macroeconomic and financial models. Her recent research focuses on functional time series, endogenous regime-switching models, high-frequency factor models and their applications in intergenerational mobility, policy effects on functional outcomes such as income distribution, temperature anomaly distribution, inflation forecast distribution, yield curve, and labor force participation profile. These studies help better address some pressing economic issues, including income-educational-occupational mobilities, policy effects on income inequality, climate change, effects of expansionary monetary and fiscal policies on inflation, borrowing costs of government, and job polarization. Her recent research also investigates monetary and fiscal policy interactions, income dynamics, expectation effects of switching financial market conditions, and empirical asset pricing models with macro factors. She has applied her new methodologies to analyze energy demand and longevity risk. Dr. Chang’s research has been published in Review of Economic Studies, Quantitative Economics, Journal of Economic Dynamics and Control, Journal of Econometrics, and Energy Economics, among others. Her work has been funded by the National Science Foundation, Bank of Korea, KEPCO, Korea Power Exchange, and the Norwegian Research Council.
Dr. Chang takes mentoring junior women economists seriously and has been playing a leadership role, either as an organizer or as a key participating mentor, in numerous mentoring events, including the MEG mentoring workshops, CeMENT workshops organized by the Committee on Status of Women in Economics Profession (CSWEP) of AEA, Finance and Economics Women (FEW), and Women Economists Networks of China, Japan, and Korea. She is also serving as the Chair of the Korean Women Economists Network (KWEN) and is a member of the International Advisory Board of the Association of the Advancement of African Women Economists (AAAWE).
Dr. Chang's current research interests include the application of various time series, panel data, and machine learning models to facilitate the implementation of frontier theories and methodologies for practically relevant inference in a broad range of macroeconomic and financial models. Her recent research focuses on functional time series, endogenous regime-switching models, high-frequency factor models and their applications in intergenerational mobility, policy effects on functional outcomes such as income distribution, temperature anomaly distribution, inflation forecast distribution, yield curve, and labor force participation profile. These studies help better address some pressing economic issues, including income-educational-occupational mobilities, policy effects on income inequality, climate change, effects of expansionary monetary and fiscal policies on inflation, borrowing costs of government, and job polarization. Her recent research also investigates monetary and fiscal policy interactions, income dynamics, expectation effects of switching financial market conditions, and empirical asset pricing models with macro factors. She has applied her new methodologies to analyze energy demand and longevity risk. Dr. Chang’s research has been published in Review of Economic Studies, Quantitative Economics, Journal of Economic Dynamics and Control, Journal of Econometrics, and Energy Economics, among others. Her work has been funded by the National Science Foundation, Bank of Korea, KEPCO, Korea Power Exchange, and the Norwegian Research Council.
Dr. Chang takes mentoring junior women economists seriously and has been playing a leadership role, either as an organizer or as a key participating mentor, in numerous mentoring events, including the MEG mentoring workshops, CeMENT workshops organized by the Committee on Status of Women in Economics Profession (CSWEP) of AEA, Finance and Economics Women (FEW), and Women Economists Networks of China, Japan, and Korea. She is also serving as the Chair of the Korean Women Economists Network (KWEN) and is a member of the International Advisory Board of the Association of the Advancement of African Women Economists (AAAWE).
Publications
Evaluating trends in time series of distributions: A spatial fingerprint of human effects on climate
Yoosoon Chang, Kaufmann, Robert K., Kim, Chang Sik, Miller, J. Isaac, Joon Y. Park, Park, Sungkeun
2020
Evaluating factor pricing models using high-frequency panels
Yoosoon Chang, Choi, Yongok, Kim, Hwagyun, Joon Y. Park
2016
Time-varying Long-run Income and Output Elasticities of Electricity Demand with an Application to Korea
Yoosoon Chang, Kim, Chang Sik, Miller, J. Isaac, Joon Y. Park, Park, Sungkeun
2014
Working Papers and Recently Published Papers
A TRAJECTORIES-BASED APPROACH TO MEASURING INTERGENERATIONAL MOBILITY, with Yoosoon Chang, Steven N. Durlauf, Seunghee Lee and Joon Y. Park, NBER Working Paper No. 31020, SSRN.
Oil and the Stock Market Revisited: A mixed functional VAR approach, with Hilde Bjornland, Yoosoon Chang and Jamie L. Cross. RePEc, SSRN.
The Effects of Economic Shocks on Heterogeneous Inflation Expectations, with Fabio Gómez-Rodríguez and Gee Hee Hong, IMF Working Paper Series, July 2022.
Time-Varying Expectation Effects of Switching Financial Uncertainty, with Hwagyun Hagen Kim and Shi Qiu.
Understanding Regressions with Observations Collected at High Frequency over Long Span with Ye Lu and Joon Park. Revised-and-resubmitted to Journal of Econometrics.
U.S. Monetary and Fiscal Policy Regime Changes and Their Interactions, with Boreum Kwak and Shi Qiu. Revised-and-resubmitted to Journal of Applied Econometrics.
Oil Price Volatility, Endogenous Regime Switching, and Inflation Anchoring, with Ana Maria Herrera and Elena Pesavento. Forthcoming at Journal of Applied Econometrics. Online Appendix
Origins of Monetary Policy Shifts: A New Approach to Regime Switching in DSGE Models, with Junior Maih and Fei Tan, Journal of Economic Dynamics and Control, 133, 104235, 2021.
Forecasting Regional Long-Run Energy Demand: A Functional Coefficient Panel Approach with Yongok Choi, Changsik Kim, Zack Miller and Joon Park, Energy Economics, 96 (2021), 105117.
Stock Market Return Predictability Dormant in Option Panels, with Youngmin Choi, Soohun Kim and Joon Park.
A New Approach to Model Regime Switching, with Yongok Choi and Joon Y. Park, Journal of Econometrics, 196, 127-143, 2017.
Nonstationarity in Time Series of State Densities, with Chang Sik Kim and Joon Y. Park, Journal of Econometrics, 192, 152-167, 2016.
Evaluating trends in time series of distributions: A spatial fingerprint of human effects on climate, with Robert K. Kaufmann, Chang Sik Kim, J. Isaac Miller, Joon Y. Park and Sungkeun Park, Journal of Econometrics, 214, 274-294, 2020.
Evaluating Factor Pricing Models Using High Frequency Panels, with Yongok Choi, Hwagyun Kim and Joon Y. Park, Quantitative Economics, 7, 889-933, 2016. An appendix and code are available in supplementary files on the journal website, http://qeconomics.org/ojs/index.php/qe/issue/view/101.
Disentangling Temporal Patterns in Elasticities: A Functional Coefficient Panel Analysis of Electricity Demand, with Yongok Choi, Chang Sik Kim, J. Isaac Miller and Joon Y. Park, Energy Economics, 60, 232-243, 2016. Supplemental materials can be obtained from (https://www.sciencedirect.com/science/article/pii/S0140988316302717).
A New Approach to Modeling the Effects of Temperature Fluctuations on Monthly Electricity Demand, with Chang Sik Kim, J. Isaac Miller, Joon Y. Park and Sungkeun Park, Energy Economics, 60, 206-216, 2016.
The College of Arts