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Meet the Economists

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Jae W. Sim

Principal Economist Macroeconomic and Quantitative Studies Section Research and Statistics
202-452-2670
jae.w.sim@frb.gov

Education

  • Ph.D., Macroeconomics, Boston University, 2007
  • B.A., Economics, Seoul National University, 1993
Current Research Topics
  • Financial Market Frictions and Real Activity
  • Financial Intermediation and Monetary Policy
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2015 - present
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2013 - 2015
  • Economist

    Board of Governors of the Federal Reserve System

    2007 - 2013
  • Cairó, Isabel, and Jae Sim (2020). "Market Power, Inequality, and Financial Instability," Finance and Economics Discussion Series 2020-057. Board of Governors of the Federal Reserve System (U.S.).
  • Feiveson, Laura, Nils Goernemann, Julie Hotchkiss, Karel Mertens, and Jae Sim (2020). "Distributional Considerations for Monetary Policy Strategy," Finance and Economics Discussion Series 2020-073. Washington: Board of Governors of the Federal Reserve System (U.S.).
  • Guerrieri, Luca, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto, and Jae Sim (2019) "Macroeconomic Effects of Banking Sector Losses across Structural Models," International Journal of Central Banking, vol. 15, no. 3, pp. 137-204.
  • Cairó, Isabel, and Jae Sim (2018). "Income Inequality, Financial Crises, and Monetary Policy," Finance and Economics Discussion Series 2018-048. Board of Governors of the Federal Reserve System (U.S.).
  • Gilchrist, Simon, Raphael Schoenle, Jae Sim, and Egon Zakrajšek (2018). "Financial Heterogeneity and Monetary Union," Finance and Economics Discussion Series 2018-043. Board of Governors of the Federal Reserve System (U.S.).
  • Gilchrist, Simon, Raphael Schoenle, Jae Sim, and Egon Zakrajšek (2017). "Inflation Dynamics during the Financial Crisis," American Economic Review, vol. 107, no. 3, pp. 785-823.
  • Gourio, François, Anil K. Kashyap, and Jae Sim (2017). "The Tradeoffs in Leaning Against the Wind," NBER Working Paper, no. 23658. National Bureau of Economic Research.
  • Kiley, Michael T., and Jae Sim (2017). "Optimal Monetary and Macroprudential Policies: Gains and Pitfalls in a Model of Financial Intermediation," Journal of Macroeconomics, vol. 54, part b, pp. 232-259.
  • Gilchrist, Simon, Raphael Schoenle, Jae Sim, and Egon Zakrajšek (2016). "Inflation Dynamics during the Financial Crisis," NBER Working Papers 22827. National Bureau of Economic Research.
  • Gilchrist, Simon, Raphael Schoenle, Jae W. Sim, and Egon Zakrajšek (2015). "Inflation Dynamics during the Financial Crisis," Finance and Economics Discussion Series 2015-012. Board of Governors of the Federal Reserve System (U.S.).
  • Guerrieri, Luca, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Michael T. Kiley, Mohammad R. Jahan-Parvar, Albert Queraltó, and Jae W. Sim (2015). "Macroeconomic Effects of Banking Sector Losses across Structural Models," Finance and Economics Discussion Series 2015-044. Board of Governors of the Federal Reserve System (U.S.).
  • Guerrieri, Luca, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto, and Jae Sim (2015). "Macroeconomic Effects of Banking Sector Losses across Structural Models," BIS Working Paper, no. 507. Bank for International Settlements.
  • Kiley, Michael T., and Jae Sim (2015). "Optimal Monetary and Macroprudential Policies: Gains and Pitfalls in a Model of Financial Intermediation," Finance and Economics Discussion Series 2015-078. Board of Governors of the Federal Reserve System (U.S.).
  • Falato, Antonio, and Jae W. Sim (2014). "Why do Innovative Firms Hold so Much Cash? Evidence from Changes in State R&D Tax Credits," Finance and Economics Discussion Series 2014-72. Board of Governors of the Federal Reserve System (U.S.).
  • Gilchrist, Simon, Jae W. Sim, and Egon Zakrajšek (2014). "Uncertainty, Financial Frictions, and Investment Dynamics," Finance and Economics Discussion Series 2014-69. Board of Governors of the Federal Reserve System (U.S.).
  • Gilchrist, Simon, Jae W. Sim, and Egon Zakrajšek (2014). "Uncertainty, Financial Frictions, and Investment Dynamics," NBER Working Paper, no. 20038. National Bureau of Economic Research.
  • Kiley, Michael T., and Jae W. Sim (2014). "Bank Capital and the Macroeconomy: Policy Considerations," Journal of Economic Dynamics and Control, vol. 43, pp. 175-198.
  • Falato, Antonio, Dalida Kadyrzhanova, and Jae W. Sim (2013). "Rising Intangible Capital, Shrinking Debt Capacity, and the US Corporate Savings Glut," Finance and Economics Discussion Series 2013-67. Board of Governors of the Federal Reserve System (U.S.).
  • Gilchrist, Simon, Jae W. Sim, and Egon Zakrajšek (2013). "Misallocation and Financial Market Frictions: Some Direct Evidence from the Dispersion in Borrowing Costs," Review of Economic Dynamics, vol. 16, no. 1, pp. 159-176.
  • Gilchrist, Simon, Jae W. Sim, and Egon Zakrajšek (2012). "Misallocation and Financial Market Frictions: Some Direct Evidence from the Dispersion in Borrowing Costs," Finance and Economics Discussion Series 2012-08. Board of Governors of the Federal Reserve System (U.S.).
  • Kiley, Michael T., and Jae W. Sim (2011). "Financial Capital and the Macroeconomy: Policy Considerations," Finance and Economics Discussion Series 2011-28. Board of Governors of the Federal Reserve System (U.S.).
  • Dokko, Jane, Brian M. Doyle, Michael T. Kiley, Jinill Kim, Shane Sherlund, Jae Sim, and Skander J. Van den Heuvel (2011). "Monetary Policy and the Global Housing Bubble," Economic Policy, vol. 26, no. 66, pp. 233-283.
  • Kiley, Michael T., and Jae W. Sim (2011). "Financial Capital and the Macroeconomy: A Quantitative Framework," Finance and Economics Discussion Series 2011-27. Board of Governors of the Federal Reserve System (U.S.).
  • Dokko, Jane, Brian Doyle, Michael T. Kiley, Jinill Kim, Shane Sherlund, Jae Sim, and Skander Van den Heuvel (2009). "Monetary Policy and the Housing Bubble," Finance and Economics Discussion Series 2009-49. Board of Governors of the Federal Reserve System (U.S.).
  • Gilchrist, Simon, and Jae W. Sim (2007). "Investment during the Korean Financial Crisis: A Structural Econometric Analysis," NBER Working Papers 13315. National Bureau of Economic Research, Inc.
Awards
  • 2013

    Western Finance Association/Charles River Associates

    Best Corporate Paper Award

  • 2015

    Banco de Portugal

    Best Paper

Last update: September 21, 2020