• 이만종 (Manjong Lee)
  • Ph.D., Pennsylvania State University
  • 전공: 화폐금융론
  • Ph: 02-3290-2223
  • Email: manjong@korea.ac.kr

Education

  • Ph.D., Economics, Pennsylvania State University, December 2005.
  • M.A., Economics, Korea University, February 1992.
  • B.A., Economics, Korea University, February 1990.

Fields

  • Monetary Economics

Professional Experiences

  • Associate Professor, Department of Economics, Korea University, 2012.3-
  • Assistant Professor, Department of Economics, Korea University, 2010.3-2012.2.
  • Assistant Professor, School of Economics, Kyung Hee University, 2007.3-2010.2.
  • Economist, The Bank of Korea, 1992-2001 and 2006-2007.

Publications

  • [Monetary Denominations/Divisibility]
  • "Modeling Denomination Structures," with N. Wallace and T. Zhu, Econometrica, 73, pp. 949-960,2005.
  • "Optimal divisibility of money when money is costly to produce," with N. Wallace, Review of Economic Dynamics, 9, pp. 541-556, 2006.
  • "Indivisibility and Non-Neutrality of Money," Korean Economic Review, 23, 223-242,2007.
  • "The Effects of Redenomination and Optimal Denomination Structures," Korean Journal of Economic Studies, 55, 99-130, 2007.
  • "Is uniform money always better than separate monies?" Open Economies Review, 19, pp. 21-42,2008.
  • "Carrying Cost of Money and Real Effects of Denomination Structure," Journal of Macroeconomics, 32, pp. 326-337,2010.
  • "Return on Commodity Money, Small Change Problem and Fiat Money," with Y. Kim, Journal of Money, Credit and Banking, 44 (2-3), pp. 533-549,2012.
  • [Coexistence]
  • "Wealth Distribution, Inflation Tax, and Societal Benefits of Illiquid Bonds," with Y. Kim, Journal of Money, Credit and Banking, 41, pp. 809-830, 2009.
  • "Recognizability of Medium of Exchange and Relative Prices," with Y.S. Kim, Journal of Economic Theory and Econometrics, 22 (2), pp. 1-24, 2011.
  • "Intermediary Cost and Coexistence Puzzle," with Y. Kim, Economics Letters, 117 (1), pp. 142-145, 2012.
  • "Recognizability and Liquidity of Assets," with Y. Kim, Korean Economic Review, 28 (2), pp. 241-259, 2012.
  • "Under what conditions do the poor hold cash in pairwise-trade models?" with O. Kwon, Journal of Economic Theory and Econometrics, 23 (3), pp. 237-252, 2012.
  • "Coexistence and Welfare Cost of Inflation," Journal of Macroeconomics, 36 (2), pp. 23-32, 2013.
  • "Composition of Portfolio and Cost of Inflation" with S. Yun, Journal of Economic Theory and Econometrics, 25 (4), 1-21, 2014.
  • [Unit of Account]
  • "Separation of Unit of Account from Medium of Exchange," with Y. Kim, Journal of Money, Credit and Banking, 45 (8), pp. 1685-1703,2013.
  • "Currency Unification and Real-Value Anchored Unit of Account," with B. Kim, Korean Journal of Economic Studies, 63 (3), pp. 157-185, 2015. The Best Paper Award of the Korean Economic Association.
  • "Inflation, Credit, and Indexed Unit of Account," with H. Choi and O. Kwon, International Review of Economics and Finance, 41(C), 144-154, 2016.
  • [Means of Payment]
  • "A Model of Debit Card as a Means of Payment," with Y. Kim, Journal of Economic Dynamics and Control, 34, pp. 1359-1368, 2010.
  • "Price Rigidity and Means of Payment," with Y.S. Kim, Seoul Journal of Economics, 25 (1), pp. 111-135, 2012.
  • "Constrained or unconstrained price for debit card payment?" Journal of Macroeconomics, 41, pp. 53-65, 2014.
  • "Optimal Allocation of Social Cost for Electronic Payment System: A Ramsey Approach," with P. Huang and Y. kim Seoul Journal Economics, 28 (1), 31-52, 2015.
  • "Coordination on Use of Non-deferred Electronic Payment Instruments," with P. Huang, Korean Economic Review, 31 (1), pp. 5-24, 2015.
  • "Who Should Bear the Resource Cost of Electronic Transaction?" with Y. Kim, Journal of Macroeconomics,, 47, pp. 270-280, 2016.
  • [Monetary Policy]
  • "Foreign Shocks and Optimal Taylor Rules in a Small Open Economy," with W.Rhee and Y. Jung, Journal of Korean Economic Studies, 27, 257-289, 2009.
  • "An Analytical Approach to the Liquidity Effects of Monetary Policy," with Y.S. Kim, Korean Economic Review, 26, pp. 453-475,2010.
  • "A Study on the Framework of Macroprudential Policy Instruments and Its Application Method," with D. Kim, Journal of Korean Economic Analysis, 20 (3), 111-166, 2014.

Working Papers

  • "Money, Unit of Account, and Nominal Rigidity," with Y. Kim, 2014.
  • "Credit Market Frictions and Coessentiality of Money and Credit," with O. Kwon, 2016.
  • "Multiple Means of Payment, Excess Reserves, and Monetary Policy," with H. Choi, 2015.
  • "Credit, Banking, Liquidity Risk and Monetary Policy," with H. Choi, 2015.

Grants and Awards

  • National Research Foundation of Korea Grant (NRF-2011-330-B00055)
  • National Research Foundation of Korea Grant (NRF-2014S1A3A2044238)
  • Korea University Research Grant (2010-2015)
  • Kyung Hee University Research Grant (2007)
  • Seok-Top Best Teaching Award [Macroeconomic Dynamics (Spring 2011, Spring 2013, Spring 2015)], Korea University
  • Excellence in Teaching Award [Intermediary Macroeconomics (Fall 2011, 2012, 2013), Macroeconomic Dynamics (Spring 2012, 2014)], Korea University