Yunjong Eo
Biographic Data
| ID | 8880329 |
|---|---|
| NAME | Yunjong Eo |
| GIVEN NAMES | Yunjong |
| FAMILY NAME | Eo |
| SIGNATURE | EO Y |
| AFFILIATIONS | Korea University |
| ORCID | 0000-0002-9172-2265 |
| VERIFIED | Yes |
| TOTAL WORKS | 3 |
| TOTAL CITATIONS | 0 |
| WORKS AS AUTHOR | 3 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2016 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 0 |
Understanding trend inflation through the lens of the goods and services sectors
We distinguish between the goods and services sectors in an unobserved components model of U.S. inflation. We find that prior to the early 1990s, both sectors contributed to volatility of aggregate trend inflation, while since then, this has been predominantly driven by the services sector, with the trend in goods inflation being essentially flat. We document that the large reduction in the volatility of the trend for goods inflation has been the…
Why Has the U.S. Economy Stagnated since the Great Recession
Since the Great Recession in 2007–2009, U.S. real GDP has failed to return to its previously projected path, a phenomenon widely associated with secular stagnation. We investigate whether this stagnation was due to hysteresis effects from the Great Recession, a persistent negative output gap following the recession, or slower trend growth for other reasons. To do so, we develop a new Markov-switching time series model of output growth that accomm…
Markov-Switching Models with Evolving Regime-Specific Parameters
In this paper, we relax the assumption of constant regime-specific mean growth rates in Hamilton's (1989) two-state Markov-switching model of the business cycle. We introduce a random walk hierarchy prior for each regime-specific mean growth rate and impose a cointegrating relationship between the mean growth rates in recessionary and expansionary periods. By applying the proposed model to postwar U.S. real GDP growth (1947:Q4–2011:Q3), we uncove…
No prominent works on this page.
Markov-Switching Models with Evolving Regime-Specific Parameters
In this paper, we relax the assumption of constant regime-specific mean growth rates in Hamilton's (1989) two-state Markov-switching model of the business cycle. We introduce a random walk hierarchy prior for each regime-specific mean growth rate and impose a cointegrating relationship between the mean growth rates in recessionary and expansionary periods. By applying the proposed model to postwar U.S. real GDP growth (1947:Q4–2011:Q3), we uncove…
Why Has the U.S. Economy Stagnated since the Great Recession
Since the Great Recession in 2007–2009, U.S. real GDP has failed to return to its previously projected path, a phenomenon widely associated with secular stagnation. We investigate whether this stagnation was due to hysteresis effects from the Great Recession, a persistent negative output gap following the recession, or slower trend growth for other reasons. To do so, we develop a new Markov-switching time series model of output growth that accomm…
Understanding trend inflation through the lens of the goods and services sectors
We distinguish between the goods and services sectors in an unobserved components model of U.S. inflation. We find that prior to the early 1990s, both sectors contributed to volatility of aggregate trend inflation, while since then, this has been predominantly driven by the services sector, with the trend in goods inflation being essentially flat. We document that the large reduction in the volatility of the trend for goods inflation has been the…
Economics (3 works) · Monetary Policy and Economic Impact (3 works) · Econometrics (2 works) · Economic Growth and Productivity (2 works) · Economic theories and models (2 works) · Keynesian economics (2 works) · Macroeconomics (2 works) · Monetary economics (2 works) · Recession (2 works) · Boom (1 work)