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

• 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