허현승 교수
(Ph.D, Univ. of New South Wales, 1997)


연구실: 302호
전화번호: 02-2123-5499
FAX번호: 02-2123-8638
이메일: hshuh@yonsei.ac.kr
전공: 거시경제학
학부강의: 거시경제학
대학원강의: 경제학세미나


연세대학교 경제대학원 부원장
연세대학교 경제학부 학부장
한국은행 자문교수
한국경제학회 사무차장
Korea and the World Economy Managing Editor
International Economic Journal, Associate Editor
한국경제연구학회 사무국장
연세대학교 경제학부 대학원 주임교수
국민경제자문회의 전문위원
연세대학교 언더우드 국제대학 경제학 주임교수
연세대학교 경제연구소 부소장
Melbourne 대학교 조교수



“Econometric methods for modelling systems with a mixture of I(1) and I(0) variables,” (with L. Fisher and A. Pagan), Journal of Applied Econometrics 31, 2016, 892-911.

“Monetary policy and exchange rates: Further evidence using a new method for implementing sign restrictions,” (with L. Fisher), Journal of Macroeconomics 49, 2016, 177-191.

“On the econometric modelling of consumer sentiment shocks in SVARs,” (with L. Fisher), Empirical Economics, 2016, forthcoming.

“The ‘trilemma’ hypothesis and policy implications for Fiji,” (with P. JI and C-Y. Park), Asia-Pacific Economic Literature 30, 2016, 99-119.

“A factor-augmented VAR analysis of business cycle synchronization in East Asia and implications for a regional currency union,” (with D. Kim, W-J. Kim, and C-Y. Park), International Review of Economics and Finance 39, 2015, 449-468.

“Sources of fluctuations in the real exchange rates and trade balances of the G-7: A sign restriction VAR approach,” (with W-S. Kwon), Review of International Economics 23, 2015, 715-737.

“Technology, employment, and cleansing effects: An empirical study of the G-7,” (with W-G. Song), Korea and the World Economy, forthcoming, 2015.

“Do SVAR models justify discarding the technology-shock-driven Real Business Cycle hypothesis?” (with D. Kim), Economic Record 90, 2014, 98-118.

“Identification methods in vector-error correction models: Equivalence results,” (with L. Fisher), Journal of Economic Surveys 28, 2014, 1-16.

“Effects of population aging on economic growth: A panel analysis,” (with H-H.Lee, Y-Y. Lee, and J-Y. Lim), Seoul Journal of Economics 26, 2013, 401-432.

“Financial integration in East Asia: An empirical investigation,” (with H-H. Lee and D-H. Park), The World Economy 36, 2013, 369-418.

“An empirical test of exogenous versus endogenous growth models for the G-7 countries,” (with D. Kim), Economic Modelling 23, 2013, 262-272.

“A Monte Carlo test for the identifying assumptions of the Blanchard and Quah (1989) model,” Applied Economics Letters 20, 2013, 601-605.

“Structural cointegrated models of US consumption and wealth,” (with L. Fisher and G. Otto), Journal of Macroeconomics 34, 2012, 1111-1124.

“A note on the equivalence of the Blanchard and Quah (1989) and Sims (1980) identification procedures,” (with Y-N. Lee), Economics Bulletin 32, 2012, 2646-2652.

“Cross-border portfolio investment in the APEC region,” (with H-H. Lee and W-J. Kim), Japan and the World Economy 24, 2012, 44-56.

“A combined measure of UK core inflation estimates,” (with H-H. Lee), Applied Economics 43, 2011, 2331-2341.

“Testing the uncorrelatedness of aggregate supply and aggregate demand socks in VAR models,” Korea and the World Economy 12, 2011, 181-209.

“Optimal foreign borrowing revisited,” (with T. Inoue and H-H. Lee), Japanese Economic Review 61, 2010, 367-381.

“A new measure of U.S. potential output, inflation forecasts, and monetary policy rules,” (with C. Harvie), Manchester School 77, 2009, 611-631.

“Nonlinear Phillips curve, NAIRU and monetary policy rules,” (with H-H. Lee and N-K. Lee), Empirical Economics 37, 2009, 131-151.

“Economic impact of Korea’s outward FDIs into developed and developing economies across industries”, (with D-W. Lee), Journal of Korea Trade 13, 2009, 75-88.

“Optimal capital investment under uncertainty: An extension,” (with I-W. Jang and R. Wong), Economics Bulletin 5, 2008, 1-7.

“Nonlinear Phillips curve, sacrifice ratio, and the natural rate of unemployment,” (with I-W. Jang), Economic Modelling 24, 2007, 797-813.

“Permanent-transitory decompositions under weak exogeneity,” (with L. Fisher), Econometric Theory 23, 2007, 183-189.

“A test on the efficiency of monetary policy in Korea,” (with S-H. Cho and H-Y. Woo), KDI Studies 29, 2007, 117-133.

“Causal relation between Sino-Korea FDI and exports,” (with D-W. Lee and S-H. Cho), Journal of the Korean Economy 8, 2007, 377-395.

“Long-run determinants of the real exchange rate and trade balance,” (with D-W. Lee), International Area Studies 11, 2007, 13-34.

“Uncertainty surrounding the U.S. NAIRU estimates of Estrella and Mishkin (1999),” (with C. Harvey), Korean Economic Review 23, 2007, 49-63.

“The dynamic patterns of foreign influences on the Korean economy,” (with H-H. Lee), Journal of Korea Trade 10, 2006, 3-30.

“Pursuing the best form of plurilateral regional trade arrangements in East Asia,” (with H-H. Lee, F. Kimura, and A. Kuno), Journal of the Korean Economy 7, 2006, 277-301.

“A simple test of exogeneity for recursively structured VAR models,” Applied Economics 37, 2005, 2307-2313.

“Debt Sustainability in East Asia after the financial crisis,” (with C-M. Koo and R. Jha), Journal of the Korean Economy 6, 2005, 195-214.

“Permanent income and transitory variation in investment and output,” (with L. Fisher and E. Tallman), Journal of Macroeconomics 25, 2003, pp. 149-168.

“The relative impact of the US and Japanese business cycles on the Australian economy,” (with H-H. Lee and D. Harris), Japan and the World Economy 15, 2003, pp. 111-129.

“GDP growth and the composite leading index: A nonlinear causality analysis for eleven countries,” Economics Letters 77, 2002, pp. 93-99.

“Real exchange rates, trade balances and nominal shocks: Evidence for the G-7,” (with L. Fisher), Journal of International Money and Finance 21, 2002, pp. 497-518.

“Asymmetric output cost of lowering inflation: Empirical evidence for Canada,” (with H-H. Lee), Canadian Journal of Economics 35, 2002, pp. 218-238.

“Estimating asymmetric output cost of lowering inflation for Australia,” Southern Economic Journal 68, 2002.

“Structural identification of permanent shocks in vector error correction models: A generalization,” (with L. Fisher and P. Summers), Journal of Macroeconomics 22, 2000, pp. 53-68.

“Weak exogeneity and long-run and contemporaneous identifying restrictions in VEC models,” (with L. Fisher), Economics Letters 63, 1999, pp. 159-165.

“How well does the Mundell-Fleming model fit Australia data since the collapse of Bretton Woods?” Applied Economics 31, 1999, pp. 397-407.

“Private and government investment: A study of three OECD countries,” (with M. Monadjemi), International Economic Journal 12, 1998, pp. 93-105.

“인구구조의 변화가 경제성장에 미치는 효과,” (이현훈/이영련 공저), 경제발전연구 14, 2008, 27-50.”
“한국의 NAIRU지표 추정과 유용성 검정,” 한국경제연구 18, 2007, 5-26.
“한국경제의 실물교란과 경기변동: 구조적 VAR모형접근,” 응용경제 8, 2006, 5-27.
“지역경제의 국제화전략: 강원도의 환동해권 협력전략을 중심으로,” (구정모/이현훈 공저), 동북아경제연구 17, 2005, 103-131.
“한국의 희생률 추정: 비선형적 접근,” 경제학연구 50, 2002, 177-205.

Financial integration in East Asia: An empirical investigation,” (with H-H. Lee and D-H. Park), Asia Development Bank, Working Paper #259, 2011.
“Permanent income and transitory variation in investment and GDP,” (with L. Fisher and E. Tallman), Federal Reserve Bank of Atlanta, Working Paper #2001-17, 2001.
“Westpac-Melbourne Institute Indexes of Economic Activity”, monthly report, University of Melbourne, 1998-2000 (Nos. 154-184).
“Monetary transmission mechanism: Some international evidence,” (with M. Monadjemi), D. Kantarelis ed., in Business and Economics for the 21st century Vol. III, Business & Economics International, MA, USA, 1999, pp. 411-422.
“Money and economic activity: Some international evidence,” (with M. Monadjemi), D. Kantarelis ed., in Business and Economics for the 21st century Vol. II, Business & Economics International, MA, USA, 1998, pp. 270-277.