Jay Hyun, PhD

Area of Study / Keywords

International Economics Macroeconomics Corporate Finance International Business

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About

I am an Assistant Professor of Business Economics & International Business in the Department of Marketing, Business Economics & Law (MBEL) at the Alberta School of Business, University of Alberta. Prior to joining the Alberta School of Business, I was an Assistant Professor at HEC Montreal, the University of Montreal affiliated business school. I received a Ph.D. and an M.A. in Economics from Columbia University, and a B.A. in Economics from Seoul National University with the presidential award for graduating first in class. 

I serve as a member of the Editorial Board for Corporate Governance: An International Review (Impact Factor: 4.6, CiteScore: 7, ABDC JQL: A).

My area of specialization is International Economics and its broad intersections with Macroeconomics, Corporate Finance, and International Business. My research uses a combination of micro-level data and structural models to understand shock propagation mechanisms and network spillovers, with a particular emphasis on the role played by firms. I am also interested in understanding global supply chain formation and reorganization, multinational activities, and their interactions with various economic factors.

Here is a brief interview with the Alberta School of Business, where I share my passion for research and my life experiences.

Education

• Columbia University - New York, USA
  Ph.D. in Economics, 2020
  M.Phil. in Economics, 2018
  M.A. in Economics, 2017
• Seoul National University - Seoul, Republic of Korea
  M.A. in Economics, 2015
  B.A. in Economics, Summa Cum Laude, 2013
     - Presidential Award: Valedictorian of the graduating class of College of Social Sciences, Seoul National University

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Research

[EJ = ASB list of Elite Journals; DJ = ASB list of Distinguished Journals]

• "Bound by Ancestors: Immigration, Credit Frictions, and Global Supply Chain Formation,"  Journal of International Economics, 2024, 147, 103855.  -  [EJ]
  • with  Jaerim Choi (Yonsei U)  &  Ziho Park (National Taiwan U)
  • [NBER Working Paper],  [NBER Conference: International Fragmentation 2023]
• "Business Cycles with Cyclical Returns to Scale,"  International Economic Review, 2024, 65(1), 253-282.  -  [DJ]
  • with  Ryan Kim (Johns Hopkins SAIS)  &  Byoungchan Lee (HKUST)
• "The Cleanup of US Manufacturing through Pollution Offshoring,"  Journal of International Economics, 2025, 154, 104046.  -  [EJ]
  • with  Jaerim Choi (Yonsei U),  Gueyon Kim (UC Santa Cruz),  &  Ziho Park (National Taiwan U)
  • [IZA Discussion Paper],  [NBER Conference: Environment and Energy Economics 2023]
• "Shock Propagation within Multi-sector Firms,"  Accepted,  Journal of Money, Credit and Banking  -  [EJ]
  • with  Ziho Park (National Taiwan U)  &  Vladimir Smirnyagin (U of Virginia)
• "Spillovers through Multimarket Firms: The Uniform Product Replacement Channel,"  Revise & Resubmit,  Review of Economics and Statistics  -  [EJ]
  • with  Ryan Kim (Johns Hopkins SAIS)
  • [Media coverage: Chicago Booth Review]
• "Global Connectedness and Diversification: Firm-level Evidence from the COVID-19 Pandemic,"  Revise & Resubmit,  Journal of Money, Credit and Banking  -  [EJ]
  • with  Daisoon Kim (NC State University)  &  Seung-Ryong Shin (KDI)
  • [CEPR's Covid Economics, Issue 49],  [Media coverage: VoxEU]
• "Contagious Pollution: Environmental Regulation and Supply Chain Reorganization,"
  • with  Scott Holladay (U of Tennessee),  Gueyon Kim (UC Santa Cruz),  &  Doyoung Park (Texas A&M)
• "ESG and Matching in Global Supply Chains,"
  • with  Jaerim Choi (Yonsei U),  Omrane Guedhami (U of South Carolina-International Business),  Jong-Min Oh (SKK Business School-Finance),  &  Hwan-Jin Yong (LG Business Research)

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Teaching

• Introduction to International Business (Undergraduate):  Winter 2025

BUEC 342 - Introduction to International Business

Provides students with an introduction to the tools they will require to succeed in the increasingly international business world. Serves as a basis for other more advanced courses in International Business. Topics covered could include Country Differences, International Trade, Foreign Direct Investment, Regional Economic Integration, The Foreign Exchange Market and International Business Strategy and Operations. Prerequisites: ECON 101 and ECON 102. Students may receive credit for only one of BUEC 342 or ADMI 342.

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Browse more courses taught by Jay Hyun

• Selection Committee, SSHRC Insight Development Grant (2025)
• External Reviewer, SSHRC Insight Grant (2024)
• Faculty Recruiting Committee - Alberta School of Business (2024)
• Organizer, Business Economics (BUEC) Workshop on Economics and Finance - Alberta School of Business (2024)
• Graduate Student Policy Committee (GSPC) - Alberta School of Business (2024)
• Scientific Committee, 38th Annual Meeting of the Canadian Macro Study Group (CMSG) - HEC Montreal (2024)

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• PwC (2024)
• Bank of Korea (2020)

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• Editorial Board, Corporate Governance: An International Review - Impact Factor: 4.6, CiteScore: 7, ABDC JQL: A (2025-)

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• 2025-2026: NOVA Management of Technology Endowment Fellowship, Alberta School of Business - $15,000
• 2024-2027: Fonds de recherche du Québec - Société et culture (FRQSC) Research Grant (PI), Government of Quebec - $57,150
• 2023-2025: Social Sciences and Humanities Research Council (SSHRC) Insight Development Grant (PI), Government of Canada - $55,000
• 2023-2024: Mitacs Business Strategy Internship Grant (Academic Supervisor) - $60,000
• 2017-2020: Research Grant, Korea Foundation for Advanced Studies (KFAS) - $39,000
• 2015-2020: Dissertation Fellowship, Trudy and Paul Woodruff Fellowship, Dean's Fellowship, Columbia University
• 2013: Presidential Award - Valedictorian of the graduating class of College of Social Sciences, Seoul National University

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Quarterly Journal of Economics; Review of Financial Studies; Journal of International Economics; Management Science; Review of Finance; Journal of Money, Credit and Banking; Review of Corporate Finance Studies; Journal of Banking and Finance; Corporate Governance: An International Review; Journal of Economic Behavior and Organization; Macroeconomic Dynamics; Canadian Journal of Economics; Financial Innovation; Economics of Innovation and New Technology; Korean Economic Review; International Economic Journal;

Jaerim Choi, Jay Hyun, Gueyon Kim, Ziho Park

Journal of International Economics. 2025 March; 154 10.1016/j.jinteco.2025.104046

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Jay Hyun, Ryan Kim, Byoungchan Lee

International Economic Review. 2024 February; 65 (1):253-282 10.1111/iere.12656

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Jaerim Choi, Jay Hyun, Ziho Park

Journal of International Economics. 2024 January; 10.1016/j.jinteco.2023.103855

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View additional publications

• Personal Website