UMass Boston

Macroeconomics, Political Economy, Growth and Development

PhD, American University

• "Household Debt, Financialization, and Macroeconomic Performance in the U.S., 1951-2009" Journal of Post Keynesian Economics , 35(4), pages 675-694, summer 2013.
• "Consumer Debt and Corporate Debt: A neo-Kaleckian Synthesis" (with Alan Isaac), Metroeconomica, 64(2), pages 244-271, May 2013.
• "A Theory of Aggregate Consumption" (with Mark Setterfield and Yuan Mei), European Journal of Economics and Economic Policies: Intervention, 11(1), pages 31-49, April 2014.
• "Income Distribution, Consumer Debt, and Keeping-Up with the Joneses: a Kaldor-Minsky-Veblen Model" (with Soon Ryoo), Metroeconomica, 65(4), pages 585-618, 2014.
• "Aggregate Consumption and Debt Accumulation: An Empirical Examination of US Household Behavior" (with Mark Setterfield and Yuan Mei), Cambridge Journal of Economics, 39(1), pages 93-112, 2015.
• “Macroeconomic Implications of Household Debt: An Empirical Analysis,” Review of Keynesian Economics, 49(2), pages 127-150, 2016
• “Inequality, Debt Servicing, and the Sustainability of Steady State Growth” (with Mark Setterfield and Jeremy Rees), Review of Political Economy, 28(1), pages 45-63, 2016
• “Debt Servicing, Aggregate Consumption, and Growth” (with Mark Setterfield), Structural change and Economic Dynamics, 36, pages 22-33, 2016
• “Household Borrowing and the Possibility of Consumption-Driven, Profit -Led Growth” (with Mark Setterfield), Review of Keynesian Economics, 5(1), pages 43-60, 2017.
• “Political Aspects of Household Finance: Debt, Wage Bargaining, and Macroeconomic (In)Stability ” (with Mark Setterfield and Gilberto Tadeu Lima), Journal of Post Keynesian Economics, 42(1), pages 16-38, 2019 — EAEPE-Kapp Prize Winner (2019) of the European Association of Evolutionary Political Economy (EAEPE) for the best published paper on a theme broadly in accord with the EAEPE theoretical perspectives for the paper
• “Understanding the Rise of Household debt in the United States: Comparative Perspectives” Review of Radical Political Economics, forthcoming
• “Varieties of capitalism, increasing income inequality, and the sustainability of long-run growth” (with Mark Setterfield), Cambridge Journal of Economics, forthcoming
• “Household Indebtedness, Distribution, and Bargaining Power under Distribution-Induced Technological Change: A Macroeconomic Analysis” (with Eric-Kemp Benedict), Review of Keynesian Economics, forthcoming

Professor Kim has conducted research on the macroeconomic implications of household debt. Recently, his works have investigated the effects of consumption emulation through borrowing on income distribution and economic growth; the interplay of financial deregulation, income distribution, aggregate demand, and the consumption emulation motive to understand the mechanisms of macroeconomic cycles; the implications of different debt-servicing behaviors for macroeconomic stability.

Before coming to the University of Massachusetts Boston, Professor Kim taught at American University, Trinity College, and Bowdoin College. His teaching areas include macroeconomics, monetary economics, and economic growth.