- 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 in Bloomington, Indiana. She earned her Ph.D. in Economics from Yale University, with her undergraduate studies in Economics and Mathematics at University of Maryland. She is also an Adjunct Professor of Statistics and Executive Committee member of Institute of Korean Studies in School of Global and International Studies at Indiana University.
In addition to her responsibilities at Indiana University, Dr. Chang’s additional titles include: President of Korea-America Economic Association (KAEA), Organizer of Symposium of Econometric Theory and Applications (SETA), Coordinator of Midwest Econometrics Group (MEG), Co-organizer of Workshop on Energy Economics, an Executive Committee member of Studies in Nonlinear Dynamics & Econometrics (SNDE), and an Associate Editor of Journal of Time Series Econometrics and SNDE. She previously served on Editorial Board of Korean Economic Review, and was Head of Economics Department at Texas A&M University, and a Visiting Professor at Keio, BI Norwegian Business School, Fudan, Toulouse School of Economics, Cambridge, Humboldt, Yale, Sungkyunkwan University, University of Paris II, and University of Tokyo. She is a Visiting Professor at University of Chicago this academic year.
Dr. Chang's current research interests include the application of various time series and panel data models to facilitate the development of new theories and methodologies for inference in a broad range of economic and financial models. Her recent research focuses on endogenous regime switching models, functional time series, high frequency factor models and their applications in monetary and fiscal policy interactions, expectation effects of switching financial market conditions, policy effects on income inequality and yield curve dynamics, and empirical asset pricing models with macro factors. She has also applied her new methodologies to analyze energy demand, climate change, and longevity risk.
Dr. Chang’s research has been published in Review of Economic Studies, Quantitative Economics, Journal of Econometrics, Econometric Theory, Econometric Reviews, Journal of Time Series Analysis, Econometrics Journal, and Energy Economics. Her work has been funded by National Science Foundation, Bank of Korea, Korea Electric Power Corporation, Korea Power Exchange, and Korea Gas Corporation.
Dr. Chang is a Fellow of Journal of Econometrics and was awarded Teacher of the Year in Graduate Instruction at Texas A&M in 2007 and Young Scholar Award by KAEA in 2004, and was Naomi Lewis Faculty Fellow at Texas A&M, the Keynote speaker at the African Econometric Society Meeting in 2013, as well as the Taiwanese Econometric Society in 2018, the Workshop on Energy Economics in 2018, and Women in Macro, Finance and Economic History Workshop in 2020. She was also an Invited Speaker at Econometrics Society Australasian Meeting in 2004 and 2011, International Panel Data Conference in 2014, Gender Submit 10 Satellite Conference in 2017, and Marleau Lecture on Economic and Monetary Policy in 2020.
Dr. Chang has been involved in mentoring junior women economists in various contexts, including the workshops organized by 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, and also serving as Chair of Korean Women Economists Network (KWEN) and a member of International Advisory Board of Association of the Advancement of African Women Economists (AAAWE).
In addition to her responsibilities at Indiana University, Dr. Chang’s additional titles include: President of Korea-America Economic Association (KAEA), Organizer of Symposium of Econometric Theory and Applications (SETA), Coordinator of Midwest Econometrics Group (MEG), Co-organizer of Workshop on Energy Economics, an Executive Committee member of Studies in Nonlinear Dynamics & Econometrics (SNDE), and an Associate Editor of Journal of Time Series Econometrics and SNDE. She previously served on Editorial Board of Korean Economic Review, and was Head of Economics Department at Texas A&M University, and a Visiting Professor at Keio, BI Norwegian Business School, Fudan, Toulouse School of Economics, Cambridge, Humboldt, Yale, Sungkyunkwan University, University of Paris II, and University of Tokyo. She is a Visiting Professor at University of Chicago this academic year.
Dr. Chang's current research interests include the application of various time series and panel data models to facilitate the development of new theories and methodologies for inference in a broad range of economic and financial models. Her recent research focuses on endogenous regime switching models, functional time series, high frequency factor models and their applications in monetary and fiscal policy interactions, expectation effects of switching financial market conditions, policy effects on income inequality and yield curve dynamics, and empirical asset pricing models with macro factors. She has also applied her new methodologies to analyze energy demand, climate change, and longevity risk.
Dr. Chang’s research has been published in Review of Economic Studies, Quantitative Economics, Journal of Econometrics, Econometric Theory, Econometric Reviews, Journal of Time Series Analysis, Econometrics Journal, and Energy Economics. Her work has been funded by National Science Foundation, Bank of Korea, Korea Electric Power Corporation, Korea Power Exchange, and Korea Gas Corporation.
Dr. Chang is a Fellow of Journal of Econometrics and was awarded Teacher of the Year in Graduate Instruction at Texas A&M in 2007 and Young Scholar Award by KAEA in 2004, and was Naomi Lewis Faculty Fellow at Texas A&M, the Keynote speaker at the African Econometric Society Meeting in 2013, as well as the Taiwanese Econometric Society in 2018, the Workshop on Energy Economics in 2018, and Women in Macro, Finance and Economic History Workshop in 2020. She was also an Invited Speaker at Econometrics Society Australasian Meeting in 2004 and 2011, International Panel Data Conference in 2014, Gender Submit 10 Satellite Conference in 2017, and Marleau Lecture on Economic and Monetary Policy in 2020.
Dr. Chang has been involved in mentoring junior women economists in various contexts, including the workshops organized by 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, and also serving as Chair of Korean Women Economists Network (KWEN) and a member of International Advisory Board of Association of the Advancement of African Women Economists (AAAWE).
Publications
Working Papers and Recently Published Papers
Stock Market Return Predictability Dormant in Option Panels, with Youngmin Choi, Soohun Kim and Joon Park.
Origins of Monetary Policy Shifts: A New Approach to Regime Switching in DSGE Models, with Junior Maih and Fei Tan. Working Paper 2019.
U.S. Monetary and Fiscal Policy Regime Changes and Their
Interactions, with Boreum Kwak and Shi Qiu. Under revision at Journal of Applied Econometrics.
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.
Understanding Regressions with Observations Collected at High Frequency over Long Span with Ye Lu and Joon Park.
Forecasting Regional Long-Run Energy Demand: A Functional Coefficient Panel Approach with Yongok Choi, Changsik Kim, Zack Miller and Joon Park.
Using Kalman Filter to Extract and Test for Common Stochastic Trends, with Bibo Jiang and Joon Y. Park. Working paper 2013, under revision at Journal of Econometrics.
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).
Time-varying Long-run Income and Output Elasticities of Electricity Demand with an Application to Korea, with Chang Sik Kim, J. Isaac Miller, Joon Y. Park and Sungkeun Park, Energy Economics, 46, 334-347, 2014.
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