First Author:   Jaesoo Kim Department of Economics, Indiana University Purdue University Indianapolis (IUPUI) jaeskim@iupui.edu   Cavanaugh Hall 511A, 425 University Boulevard Indianapolis, 46202, USA   317-274-2217(Phone) 317-274-2217(Fax) Second Author: Jongwoo Park Bank of Korea jongwoo@bok.or.kr   Monetary Policy and Markets Department, The Bank of Korea, 39 Namdaemunno, Jung-Gu , 100-794, Korea   82-2-759-4598(Phone)