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Jiyoung Chae

Ph.D. Candidate in Economics

University of Illinois at Urbana-Champaign

About me

I am a Ph.D. Candidate in Economics at the University of Illinois at Urbana-Champaign (UIUC). My research relates to applied econometrics, spatial econometrics, urban economics, and real estate economics, with a particular focus on analyzing spatial dynamics of the housing market.

Interests

  • Applied Econometrics
  • Spatial Econometrics
  • Urban Economics
  • Real Estate Economics

Education

  • Ph.D. in Economics, May 2021

    University of Illinois at Urbana-Champaign

  • M.S. in Policy Economics, 2014

    University of Illinois at Urbana-Champaign

CV

Find my CV in PDF here.

Working Papers

A Flexible Model for Spatial Volatility with an Application to Chicago Housing Market

Existing volatility models normally emphasize the behavior of prices in a temporal sense and comparatively few studies have explicitly …
PDF

Spatial Market Inefficiency in Housing Market: A Spatial Quantile Regression Approach (Revise and Resubmit, Journal of Real Estate Finance and Economics)

This paper empirically tests housing market efficiency in the spatial dimension by using the spatial autoregressive conditional …
PDF

Bayesian Inference in Spatial Stochastic Volatility Models with An Application to House Price Returns in Chicago (Revise and Resubmit, Oxford Bulletin of Economics and Statistics)

In this study, we consider a spatial stochastic volatility model in which the latent log-volatility term is specified through a spatial …
PDF

The House Price-Supply Curve: A Spatial Panel Approach

This paper investigates spillover effects of house supply on nearby house prices across the housing cycle. Over the past five years, …

Employment

Regional Economics Applications Laboratory (REAL), UIUC

Research Assistant to Geoffrey J.D. Hewings, Spring 2017 - Present

  • Analyze housing market condition for Illinois metropolitan areas; forecast housing prices and sales using time series models; prepare monthly, quarterly and annual reports for the Illinois Association of Realtors.

The Korea Scoring Company, Seoul, South Korea

Senior Consultant, 2010 - 2012

  • Developed credit scoring models that help clients to classify consumer loan applications and minimize credit default risk; performed analyses of financial, demographic, behavioral, and economic data as related to credit risk.

The Nielsen Company, Seoul, South Korea

Senior Analyst, 2006 - 2010

  • Conducted statistical and econometric methods to quantify and evaluate marketing activities and presented business insights to clients; trained new analysts on a monthly basis regarding modeling, programming, and presenting.

Teaching

Department of Economics, UIUC

-Teaching Assistant, Microeconomic Principles (Undergraduate), Fall 2015 - Fall 2016 -Grader, Econometric Analysis I (Ph.D.), Fall 2016

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