arXiv subjects

Hyunseok Jung

Publications and source records attributed to Hyunseok Jung.

3 recordsLinked to original sources

arXiv2026

Mass Shootings, Community Mobility, and the Relocation of Economic Activity

Using foot traffic data for over 150,000 points of interest (POIs) near the sites of 42 mass shootings (2018-2022, U.S.), we evaluate the spatial-temporal impact of the tragic events on community mobility and relocation of economic activities. Visits to nearby POIs decrease, while farther away POIs experience increased foot traffic, implying that communities shift their activities away from the shooting sites. The impact is stronger when stronger trauma responses are expected. Our results suggest that mass shootings drive significant displacements of economic activities and can lead to welfare losses due to distortions in optimal choices of time and location.

econ.GN↗

arXiv2025

Testing for Peer Effects without Specifying the Network Structure

This paper proposes an Anderson-Rubin (AR) test for the presence of peer effects in panel data without the need to specify the network structure. The unrestricted model of our test is a linear panel data model of social interactions with dyad-specific peer effect coefficients for all potential peers. The proposed AR test evaluates if these peer effect coefficients are all zero. As the number of peer effect coefficients increases with the sample size, so does the number of instrumental variables (IVs) employed to test the restrictions under the null, rendering Bekker's many-IV environment. By extending existing many-IV asymptotic results to panel data, we establish the asymptotic validity of the proposed AR test. Our Monte Carlo simulations show the robustness and superior performance of the proposed test compared to some existing tests with misspecified networks. We provide two applications to demonstrate its empirical relevance.

econ.EM↗

arXiv2024

Shared Hardships Strengthen Bonds: Negative Shocks, Embeddedness and Employee Retention

Jarring events inspiring reflection, known as ``shocks" in the literature, are the motive force in explaining changes in employee embeddedness and retention within the unfolding model of labor turnover. Substantial research effort has examined strategies for insulating valued employees from adverse shocks. However, this paper provides empirical evidence that unambiguously negative shocks can increase employee retention when underlying firm and employee incentives with respect to these shocks are aligned. Using survival analysis on a unique data set of 466,236 communication records and 45,873 employment spells from 21 trucking companies, we show how equipment-related shocks tend to increase the duration of employment. Equipment shocks also generate paradoxically positive sentiments that demonstrate an increase in employees' affective commitment to the firm. Our results highlight the important moderating role aligned incentives have in how shocks ultimately translate into retention. Shared hardships strengthen bonds in employment as in other areas.

econ.GN↗