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Choongsoo Kim's Photo

Choongsoo Kim Bank of Korea


Choongsoo Kim is the 24th Governor of the Bank of Korea and the Chairman of its Monetary Policy Committee.
He took office on April 1, 2010, for a full term to end after four years. Born in June 1947, Governor Kim received a B.A. in economics from Seoul National University in 1973 and a Ph.D. in economics from the University of Pennsylvania in 1979.

Prior to his appointment as governor of the central bank, Governor Kim held various positions in both public service and academia. From September 2008 to March 2010 he worked in Paris as the Korean Ambassador and Permanent Representative to the OECD. Before being chosen ambassador, he served as Senior Secretary to the President for Economic Affairs in the Office of the President of Korea.

Governor Kim has held many other posts as well, including President of Hallym University (2007-2008), President of the Korea Development Institute (2002-2005), Dean of the Graduate School for International Studies, Kyung Hee University (1998-2002), and President of the Korea Institute of Public Finance (1997-1998). He also served as Assistant Minister and Special Advisor to the Deputy Prime Minister in the Ministry of Finance and Economy, and as Minister and Head of the OECD Office in the Korean Embassy in Paris (1995-1997), in charge of negotiations on the Republic of Korea’s accession to the OECD.

In 1993 he was Secretary to the President for Economic Affairs in the Office of the President. Earlier in his career, Governor Kim worked as a senior economist in the Korea Development Institute for ten years (1983-1993), where his research areas included macroeconomic policy management, manpower and social welfare policy. He began his career as a senior research associate of the Center for Human Resource Research at the Ohio State University in 1979

Hyun Song Shin's Photo

Hyun Song Shin Princeton University


Hyun Song Shin is the Hughes-Rogers Professor of Economics at Princeton University. His research interests cover financial institutions, risk and financial stability issues, topics on which he has published widely both in academic and policy outlets.

He is the author of Risk and Liquidity the 2008 Clarendon Lectures in Finance, and co-authored the 2009 Geneva Report on the Fundamental Principles of Financial Regulation.

Before moving to Princeton in 2006, he was based in the United Kingdom, holding academic positions in Oxford and the London School of Economics.

Professor Shin is a Korean national. In 2010, he was on leave from Princeton, serving in a policy role in Korea as the Senior Adviser to President Lee Myung-bak on the International Economy. He is a fellow of the Econometric Society and of the British Academy.

Robert E. Lucas Jr.'s Photo

Robert E. Lucas Jr. University of Chicago


Robert E. Lucas, Jr. is the John Dewey Distinguished Service Professor of Economics at the University of Chicago.

He is a Fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Philosophical Society, and a member of the National Academy of Sciences. He is a past president of the Econometric Society and the American Economic Association.

In 1995, he received the Nobel Memorial Prize in Economic Sciences.

In awarding the Nobel Memorial Prize in Economic Sciences to Lucas, the Royal Swedish Academy of Sciences recognized him “for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy.”

His work has brought about a rapid and revolutionary development: application of the rational expectations hypothesis, emergence of an equilibrium theory of business cycles, insights into the difficulties of using economic policy to control the economy, and possibilities of reliably evaluating economic policy with statistical methods,” the Academy noted.

Edward C. Prescott's Photo

Edward C. Prescott Arizona State University


Edward C. Prescott is the W. P. Carey Chaired Professor of Economics and Director of ASU Center for the Advanced Study in Economic Efficiency.

Prescott was awarded the 2004 Nobel Prize in Economic Sciences jointly with Finn Kydland for their contributions to dynamic macroeconomics, in particular, the time consistency of economic policy and the driving forces behind business cycles. Honors include, Nemmers Prize in Economics, American Academy of Arts and Sciences Fellow, National Academy of Science Member.

Prescott has published over 200 research articles, which address topics in money and banking, finance, business cycle theory, general equilibrium theory, and policy theory.

Prescott received a B.A. in mathematics from Swarthmore, a M.S. in operations research from Case-Western Reserve, and a Ph.D. in economics from Carnegie Mellon.

Before joining ASU in 2003 he was a faculty member at the University of Pennsylvania, Carnegie Mellon, the University of Chicago, and the University of Minnesota.

Woon Gyu Choi's Photo

Woon Gyu Choi Bank of Korea

Woon Gyu Choi is currently a Deputy Governor and the Director General of the Economic Research Institute at the Bank of Korea (BOK). Before joining the BOK in June 2012, he worked at the IMF (the Asian Division of the IMF Institute, 2000–2012).

At the IMF Institute, he taught various courses in macroeconomics, international finance, finance, and related policy issues to government officials worldwide.

He led and/or coordinated various IMF courses including financial programming and policies, macroeconomic diagnostics, economic policies for financial stability, financial market analysis, macroeconomic management and financial sector issues/fiscal policy, and monetary and exchange rate policy.

Prior to joining the Fund, he worked at the Research Department of the BOK (1987–1991), and taught all levels of courses including money & banking and advanced macroeconomics as an assistant professor at the Hong Kong University of Science & Technology (1995–2000).

His research interests include monetary policy and financial markets, aggregate and corporate money demand, exchange rate policy and fiscal policy issues, international reserves, financial cycles, macroeconomic policies and unemployment, and global financial market issues.

He has publications in leading academic journals including Journal of Monetary Economics, Journal of International Economics, Journal of Money, Credit, and Banking, and Journal of Financial and Quantitative Analysis.

He obtained his Ph.D. in economics from the University of California, Los Angeles (UCLA).

Nancy L. Stokey's Photo

Nancy L. Stokey University of Chicago


Nancy L. Stokey is the Frederick Henry Prince Distinguished Service Professor of Economics, University of Chicago.

Stokey is a member of the National Academy of Sciences and of the American Academy of Arts and Sciences, and she is a Fellow of the Econometric Society.

She has served as co-editor of Econometrica and of The Journal of Political Economy, and as vice-President of the American Economic Association.

Stokey is co-author of the influential monograph Recursive Methods in Economic Dynamics (1989), which has provided the mathematical basis for much of modern macroeconomics.

She is also co-developer of a model of dynamic taxation and debt policy that has served as the foundation for much subsequent work in that area, and she is author of The Economics of Inaction (2009), which treats models that involve fixed costs of adjustment.

Stokey has also contributed to various areas of microeconomics, with the first rigorous proof of the famous Coase conjecture, and as co-developer of the No-Trade theorem, a result that presents a fundamental puzzle about information, stock market prices, and the volume of trading.

Stokey’s recent work has focused on economic growth and development, especially on the role of trade and technology transfers in accelerating growth in middle-income countries.

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