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Professor's Information

	Hahm, Joon-Ho (함준호) Chair of International Trade, Finance and Management Professor of International Economics and Finance Ph.D. Business, Graduate School of Business, Columbia University, 1993 Financial Markets, Financial Institutions and Macroeconomic Policies jhahm@yonsei.ac.kr 82-2-2123-4210 · Room : 603

Profile

Professor Hahm received his graduate and doctoral degrees from Columbia University and his undergraduate degree from Seoul National University. Prior to joining Yonsei, Dr. Hahm was an assistant professor of economics at the University of California, Santa Barbara, and a research fellow at the Korea Development Institute. His expertise lies in financial economics, money and banking, financial institutions and capital markets. Until recently he was a member of the Monetary Policy Board at the Bank of Korea. He also served as a board member for many financial institutions including the Korea Deposit Insurance Corporation and the Woori Bank. Dr. Hahm has assumed a variety of advisory and consultative roles for the Korean government as well as international organizations including the World Bank and the Asian Development Bank.

Education

• Ph.D. Business, Graduate School of Business, Columbia University, 1993
• M.Phil. Business, Graduate School of Business, Columbia University, 1992
• M.B.A. Finance, Graduate School of Business, Columbia University, 1988
• B.A. English Literature(Minor in Business Administration), Seoul National University, 1986

Full-time Appointments

• Member, Monetary Policy Board, Bank of Korea (2014.5-2018.5)
• Visiting Research Fellow, Korea Institute of Finance (2014.1-2014.5)
• Professor, Graduate School of International Studies, Yonsei University (2009.9-present)
• Associate Dean, Graduate School of International Studies, Yonsei University (2007.9-2009.2)
• Visiting Associate Professor, Department of Economics, University of Hawaii at Manoa (2006.8-2006.12)
• Director, Center for International Studies, Yonsei University (2004.9-2006.2 / 2009.9-2012.8)
• Associate Professor, Graduate School of International Studies, Yonsei University (2004.9-2009.8)
• Assistant Professor, Graduate School of International Studies, Yonsei University (2000.3-2004.8)
• Research Fellow, Money and Finance Division, Korea Development Institute (1996.9-2000.2)
• Assistant Professor, Department of Economics, University of California, Santa Barbara (1994.7-1996.8)
• Visiting Assistant Professor, Graduate School of Business, Columbia University, New York (1993.8-1994.5)

Academic Services

• Auditor, Korea Money and Finance Association (2019.7-present)
• Managing Editor, Financial Stability Studies, Journal of the KDIC (2018.12-present)
• Vice President, Korea Money and Finance Association (2018.7-2019.6)
• Editorial Board Member, Journal of Financial Supervision (2013.10-2014.5)
• Vice President, Korean Academy of Financial Consumers (2012.2-2014.5)
• Vice President, Korea Association of Financial Information (2012.1-2014.1)
• Editorial Board Member, Journal of Money and Finance (2011.7-2014.5)
• Editorial Board Member, Journal of Korea Economic Association (2011.3-2013.2)
• Executive Committee Member, Korea Association of Financial Information (2010.10-2012.1)
• Executive Committee Member, Korean Academy of Financial Consumers (2010.3-2012.2)
• Executive Committee Member, Association of Korea Economic Studies (2010.1-2011.1)
• Deputy Secretary General, Secretariat, Korea Economic Association (2009.2-2010.2)
• Executive Committee Member, Korea Money and Finance Association (2008.9-2010.8)
• Editorial Board Member, Journal of Korean Economic Analysis, Korea Institute of Finance (2007.3-2013.5)
• Editorial Board Member, Quarterly Economic Analysis, Bank of Korea (2006.5-2014.5)
• Executive Committee Member, Korea Money and Finance Association (2005.10-2007.6)
• Deputy Secretary General, Secretariat, Korea International Economic Association (2003.1-2004.1)
• Editorial Board Member, Korea Development Review, KDI (2001.8-2014.5)
• Editorial Board Member, Journal of International Economic Policy Studies, KIEP (2001.2-2009.6)
• Editorial Board Member, Journal of Korea Economic Association (2001.2-2004.1)

Professional Services

• Advisory Member, Foreign Exchange International Finance Forum, Financial Supervisory Service (2014.3-2014.5)
• Member, Policy advisory Board, Korea Chamber of Commerce and Industry (2014.1-2014.5)
• Member, Risk Management Committee, Public Officials Benefit Association (2013.12-2014.5)
• Member, Self Evaluation Committee, Financial Services Commission (2013.10-2014.5)
• Advisory Board Member, Hyundai Card (2013.8-2014.5)
• Member, System Risk Advisory Committee, Financial Supervisory Service (2013.7-2014.5)
• Faculty Advisor to Research Department, Bank of Korea (2013.7-2014.5)
• Member, Monetary and Credit Policy Expert Panel, Bank of Korea (2013.4-2014.5)
• Chair, Macroeconomic Forecast Advisory Committee, Korea Credit Bureau (2013.2-2014.5)
• Member, Benchmark Interest Rate Determination Expert Panel, Bank of Korea (2012.4-2013.3)
• Member, Consumer Advisory Committee, Korea Credit Bureau (2012.3-2013.2)
• Outside Director, Board of Directors, NH Life Insurance Co., Ltd (2012.3-2014.5)
• Member, Risk management Committee, Korea Teachers Credit Union (2011.9-2014.5)
• Advisory Board Member, Korea Deposit Insurance Corporation (2011.9-2014.5)
• Outside Director, Board of Directors, Interpark, Co., Ltd. (KOSDAQ listed) (2011.3-2014.5)
• Committee Member, Clearing and Settlement Committee, Korea Exchange (2010.10-2014.5)
• Research Advisory Committee Member, Korea Institute of Finance (2010.9-2014.5)
• Advisory Board Member, Korea Securities Finance Corporation (2010.4-2014.5)
• Local Consultant, Asian Development Bank (2009.4-2010.5)
• Outside Director, Board of Directors, Korea Deposit Insurance Corporation (2008.11-2010.11)
• Member, Deliberation Committee on Financial Development, Financial Services Commission (2008.10-2013.8)
• Member, Advisory Committee on Macroeconomic Policy, Ministry of Strategy and Finance (2008.9-2012.2)
• Member, Review Committee on Approval of Bank Basel II-IRB Methods, Financial Supervisory Service (2008.7-2013.6)
• Committee Member, Economic Analysis Panel, National Assembly Budget Office (2008.4-2009.3)
• Member, Advisory Committee on Macro Prudential Regulation, Financial Supervisory Service (2007.2-2008.9)
• Outside Director, Board of Directors, Gmarket, Co., Ltd. (US NASDAQ listed) (2005.10-2009.4)
• Outside Director, Board of Directors, Prudential Asset Management Co., Ltd. (2005.6-2008.6)
• Member, Deliberation Committee on Financial Development, Ministry of Finance and Economy (2004.11-2005.11)
• Member, Listing Committee, Korea Stock Exchange (2002.2-2008.3)
• Outside Director, Board of Directors, Woori Bank (2001.3-2004.3)
• Task Force Economist on Financial Supervisory System Reform, Ministry of Planning and Budget (2000.11-2001.1)
• Advisory Committee Member on Trade Negotiations, Ministry of Foreign Affairs and Trade (2000.8-2006.12)
• Outside Director, Board of Directors, Daehan Investment Trust Management, Co., Ltd. (2000.7-2001.7)
• Advisory Board Member, Resolution and Finance Corporation, Korea Deposit Insurance Corporation (2000.1-2004.2)
• Local Consultant, World Bank (Strategic Sovereign Debt Management Team) (1998.12-2000.4)
• Specialist Commission Member, The Presidential Commission for Financial Reform, Korea (1997.1-1997.12)

Courses and Current Research Area

• [COURSE PREPARATION]
• Ph.D. courses: Financial Economics, Seminar in Monetary Economics
• M.B.A. courses: International Business, Money and Financial Markets, Macroeconomics
• Master courses: Financial Markets and Institutions, Macroeconomics, Research Methodology, Introduction to Economic Analysis, Introduction to International Economics, International Money and Capital Markets, Financial Institutions and Global Financial System
• Undergraduate: Principles of Macroeconomics, Intermediate Macroeconomics, Financial Markets and Global Financial Institutions
• [CURRENT RESEARCH AREA]
• Monetary Theory and Policy, Macroeconomics, Capital Markets, International Finance, Financial Institutions and Regulation

Academic Publications

[Journal Articles and Book Chapters in English]
•  “Implications of Ultra-Low and Negative Interest Rate Policies for Monetary Policy and Macroprudential Policy in the Republic of Korea,” in Naoyuki Yoshino, Chantapacdepong Pornpinun, and Stefan Angrick eds. The Implications of Ultra-Low and Negative Interest Rates for Asia, Asian Development Bank Institute, pp. 56-66, 2018
•  “Foreign Currency Liquidity Risk and Prudential Regulation of Banks,” Chapter 8 in Dongsoo Kang and Andrew Mason eds. Macroprudential Regulation of International Finance Managing Capital Flows and Exchange Rates, KDI/EWC Series on Economic Policy, Edward Elgar, pp. 164-200, 2016 (joint with Sungbin Cho)
•  “Safeguarding Financial Stability in a Diverging Global Economy,” in Asia Economic Policy Conference Volume, Federal Reserve Bank of San Francisco, pp. 339-347, 2015
•  “Foreign Currency Noncore Bank Liabilities and Macroprudential Levy in Korea,” Emerging Markets Finance and Trade, Vol.50, No. 6,pp.5-18, Nov-Dec. 2014 (joint with Sungbin Cho)
•  “Monetary Aggregates and Procyclicality of the Financial System: An Asian Perspective,” Chapter 2 in Iwan J. Azis and Hyun Song Shin eds. Global Shock, Risks, and Asian Financial Reform, Asian Development Bank and Edward Elgar, pp22-73, 2014 (joint with Hyun Song Shin and Kwanho Shin)
•  “Non-core Bank Liabilities and Vulnerability to Crisis: Implications for Asia,” Chapter 3 in Iwan J. Azis and Hyun Song Shin eds. Global Shock, Risks, and Asian Financial Reform, Asian Development Bank and Edward Elgar, pp74-101, 2014 (joint with Hyun Song Shin and Kwanho Shin)
•  “Non-core Bank Liabilities and Financial Vulnerabilities”, Journal of Money, Credit and Banking, Volume 45, S1 pp 3-36, 2013 (joint with Hyun Song Shin and Kwanho Shin)
•  “Macroprudential Policies in Open Emerging Economies,” Chapter 2 in, Reuven Glick ed. Asia’s Role in the Post-Crisis Global Economy, Asia Economic Policy Conference Volume, Federal Reserve Bank of San Francisco, pp. 49-100, 2012 (also NBER working paper No. 17780) (joint with Frederic S. Mishkin, Hyun Song Shin and Kwanho Shin)
•  “Economic Effects of Positive Credit Information Sharing: The Case of Korea,” Applied Economics, Vol. 43, No. 30, pp. 4879-4890, 2011 (joint with Sangche Lee)
•  “Complementarity among international asset holdings,” Journal of the Japanese and International Economies, Vol. 23, No. 1, pp.37-55, March 2009 (joint with Kwanho Shin)
•  “External Finance and Productivity Growth in Korea: Firm Level Evidence Before and After the Financial Crisis," KDI Journal of Economic Policy, Vol. 30, No. 2, pp.177-209, December 2008 (joint with Sanghoon Ahn and Joon-Kyung Kim)
•  “Determinants and Consequences of Non-Interest Income Diversification of Commercial Banks in OECD Countries,” Journal of International Economic Studies, Vol. 12, No. 1, pp. 3-32, June 2008
•  “The New BASEL Accord and Bank Capital Requirements for SMEs in Korea," Asia-Pacific Journal of Financial Studies, Vol. 36, No. 6, pp. 897-926, 2007 (joint with Dongsoo Kang)
•  “Risks and Supervisory Challenges of Financial Conglomerates in Korea," KDI Journal of Economic Policy, Vol. 28, No. 1, pp.145-191, 2006 (joint with Joon-Kyung Kim)
•  “Turning a Crisis into an Opportunity: The Political Economy of Korea’s Financial Sector Reform,” a chapter in Jongryn Mo and Daniel Okimoto eds, From Crisis to Opportunity: Financial Globalization and East Asian Capitalism, Shorenstein APARC distributed by Brookings Institution Press, January 2006 (joint with Wonhyuk Lim)
•  “Debt Management Analysis of Nepal’s Public Debt,” Economics and Research Department, Asia Development Bank Technical Note Series, No. 15, December 2005 (joint with Sungsup Ra and Changyong Rhee)
•  “The Resurgence of Banking Institutions in Post-crisis Korea,” Journal of Contemporary Asia, Vol. 35, No. 3. pp. 386-403, 2005
•  “Macroeconomic Implications of Financial Market Reforms in Korea,” chapter 4 in L.-J. Cho, D. C. Cho and Y. H. Kim eds, Macroeconomic Implications of Postcrisis Structural Changes, KDI Press, Seoul, 2005
•  “Interest Rate and Exchange Rate Exposures of Banking Institutions in Pre-crisis Korea,” Applied Economics, Vol. 36, pp. 1409-1419, July 2004
•  “Reforms in Credit Policy and Risk Management: The Case of Woori Bank,” Chapter 8 in Duck Hoon Lee and Gilgin Lim eds, Reforms and Innovations in Bank Management, pp. 315-349, Nanam Publishing, 2004
•  “Financial Restructuring,” Chapter 8, Barry Eichengreen and Duckoo Chung eds, The Korean Economy Beyond the Crisis, pp. 172-193, Edward Elgar, 2004
•  “Cost-at-Risk and Benchmark Government Debt Portfolio in Korea,” International Economic Journal, Vol. 17, Number 2, pp. 79-103, Summer 2003 (joint with Jinho Kim)
•  “The Government, The Chaebol and Financial Institutions before the Economics Crisis,” Chapter 4 in S. Haggard, W. Lim and E. Kim, eds. Economic Crisis and Corporate Restructuring in Korea, Cambridge University Press, January 2003
•  “Financial Intermediation and Economic Performance: The Korean Experience," Proceedings of the 2001 APEC Economic Outlook Symposium, APEC #202-EC-04.1, ISBN 981-04-8023-7, pp. 249-262, Asia-Pacific Economic Cooperation, June 2002
•  "The Korean Crisis: Causes and Resolution," in L. Cho, Y. H. Kim and I. Shin, eds. Restructuring the Korean Financial Market in a Global Economy, Seoul, KDI Press, distributed by University of Hawaii Press, pp. 91-141, January 2002 (joint with Inseok Shin)
•  "The Korean Financial Crisis: An Asymmetric Information Perspective," Emerging Markets Review, Vol. 1, No. 1, May 2000, pp 21-52 (joint with Frederic S. Mishkin)
•  "Consumption Growth, Income Growth and Earnings Uncertainty: Simple Cross-Country Evidence," International Economic Journal, Vol. 13, No. 2, Summer 1999, pp. 39-58
•  "Consumption Adjustment under Time-varying Income Uncertainty," Review of Economics and Statistics, Vol. 81, No. 1, February 1999, pp. 32-40 (joint with Douglas Steigerwald)
•  "Financial System Restructuring in Korea: The Crisis and its Resolution," a chapter in East Asia’s Financial Systems – Evolution and Crisis, Masuyama, Vandenbrin, Yeu, eds, Nomura Economic Research Institute, Tokyo, 1999, pp. 109-143
•  "Consumption Adjustment to Real Interest Rates: Intertemporal Substitution Revisited," Journal of Economic Dynamics and Control, Vol. 22, January 1998, pp. 293-320
•  "Essays on Uncertainty, Consumption and Precautionary Saving," Ph.D. Thesis, Columbia University, October 1993, awarded Ph.D. Dissertation with Distinction

[Journal Articles and Book Chapters in Korean]
•  “A Study on the Procyclicality of Household Debt and Macroeconomic-adjusted Credit Scoring Model,” joint with Hyun Cheol Cho and Young Chul Kwon, Journal of Korean Economic Analysis, Vol. 21, No.1, April 2015, pp. 2-49.
•  “Risk and Cost Efficiency of Banks in Korea,” Journal of Money and Finance, Vol. 26, No. 2, June 2012, pp. 147-184.
•  “Liquidity in China: A Macroeconomic Appraisal and Implications for Policy,” joint with Aeyoung Dong, Chapter 2, in Dongsoo Kang ed. Challenges and Development of China’s Financial System: Policy Implication on the Korean Economy, pp. 34-97, Korea Development Institute, Seoul, December 2011
•  “Soundness of Financial Institutions and the Propagation of External Shocks,” joint with Hyun-Wook Kim, Chapter 7 in, Dongchul Cho and Hyun-Wook Kim eds. Korea’s Capacity to Cope with Crises in a Globalized Environment,., pp. 273-305, Korea Development Institute, Seoul, September 2011
•  “Risk Analysis of Household Debt in Korea: Using Micro CB Data,” joint with Jung In Kim, and Young Sook Lee, KDI Journal of Economic Policy, Vol. 32, No. 4, pp., December 2010
•  “Global Financial Crisis and Business Strategies of Korean Commercial Banks: Evaluation and Implications,” joint with Jungsoo Park and Jeong Ho Suh, Journal of Korean Economic Studies, December 2010
•  “An Empirical Study on the Economic Benefit of Sharing Negative and Positive Credit Information,” joint with Jaewook Chung, Journal of Money and Finance, Vol. 24, No. 3, pp. 27-64, September 2010
•  “The Subprime Crisis and Challenges for Korea’s Financial Industries,” KLCA Research, (The Journal of the Korea Listed Companies Association), Vol. 59, pp. 79-115, Spring 2009
•  “The Post-crisis Transformation of Korea’s Financial System,” Kyong-Je-Hak-Yon-Gu (The Journal of Korean Economic Association), Vol. 55, No. 4, pp. 401-445, December 2007
•  “SME Financing and Bank Lending: A Study on the Innovative SMEs,” joint with Jong-Ku Kang, Quarterly Economic Analysis, Vol. 11, No. 3, October 2005, pp. 87-119, Bank of Korea
•  “An Empirical Investigation of the Change in Financial Stability of Financial Conglomerates in Korea,” joint with Joon-Kyung Kim, Chapter 4 in A Study on the Financial Regulation and Supervision in the Era of Financial Globalization, pp. 183-266, Korea Development Institute, December 2004
•  “Financial Consolidation and Financial Stability,” joint with Seung-Je Hong, Chapter 3 in Jungho Hahm ed, Financial System in Korea in the Era of Global Economy - Effects and Tasks of Financial Consolidation, pp. 145-200, Bank of Korea, 2003
•  “Income Uncertainty and Durables Consumption in Korea,” Quarterly Economic Analysis, Vol. 7, No. 3, 3rd Quarter 2001, pp. 104-133, Bank of Korea
•  "Sovereign Debt Risk Management using Cost-at-Risk Concept,” joint with Jinho Kim, The Korean Journal of Finance, Vol. 13, No. 2, November 2000, pp. 277-309
•  "Exchange Rate Exposure of Korean Foreign Exchange Banks in the 90s,” joint with Jaekyun Yoo, KDI Journal of Economic Policy, Vol. 21, No. 2, 1999, pp. 55-96
•  "Predictive Power of Market-micro Information in Korean Foreign Exchange Markets," joint with Young Seob Lee, Journal of Korean Economic Analysis, Vol. 4, No. 1, June 1998, pp. 1-39
•  "A Study on the Source of Interest Rate Differentials," joint with Duck Hoon Lee, KDI Journal of Economic Policy, Vol. 19, No. 1, March 1997, pp. 51-98

[Journal Article in Chinese]
•  “Reconstruction of the Korean Financial System: Policy Lessons,” Comparative Studies, Vol. 6, April 2003, pp. 165-184

[Book and Research Monographs]
•  White Paper: Changes and Prospects of the Korean Financial Sector, Seoul National University Press, November 2013 (in Korean) (joint with S. J. Kim, Y. S. Kim, C. G. Park, and J. S. Choe)
•  “Global Crisis and Reforms of Prudential Regulations”, KIF Finance Report, July 2010 (in Korean) (joint with Byung Duck Kim)
•  The Objectives and Policy Directions of Sovereign Debt Management in Korea, April 1999, Korea Development Institute (in Korean)
•  Financial Restructuring in Thailand: Evaluations and Policy Implication for Korea, joint with Inseok Shin, September 1998, Korea Development Institute (in Korean)