Postdoctoral Fellow in Economics
102 Hubbard Hall
My research projects have dealt with the macroeconomic implications of household debt. Recently, my 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 consumption behaviors for macroeconomic stability.
I received my Ph.D. in Economics from American University in 2011. Before coming to Bowdoin, I taught at Trinity College and American University. I enjoy teaching courses in Macroeconomics and Monetary Economics, Economic Growth, International Economics, and Applied Time Series Analysis.
"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, forthcoming
* indicates an undergraduate coauthor
Articles under review
"Emulation and Consumer Debt: Implications of Keeping-Up with the Joneses", revision and resubmission requested
"Aggregate Consumption and Debt Accumulation: An Empirical Examination of US Household Behavior" (with Mark Setterfield and Yuan Mei*), under review
"Income Distribution, Consumer Debt, and Keeping-Up with the Joneses: a Kaldor-Minsky-Veblen Model" (with Soon Ryoo), under review
"Debt Servicing, Aggregate Consumption, and Growth" (with Mark Setterfield), under review
"Review of Flexicurity Capitalism: Foundations, Problems, and Perspectives by Peter Flaschel and Alfred Greiner," European Journal of Economics and Economic Policies: Intervention, 10 (3), 2013
"Macroeconomic Implications of Household Debt: An Empirical Analysis,"
Trinity College working paper 1103
"Consumer Debt and Economic Crisis" (with Alan Isaac)
Courses I have taught:
Introductory Macroeconomics, Contemporary Macroeconomic Issues, Macroeconomic Theory, International Trade, Theories of Economic Growth.
Senior Honors Thesis Supervision (at Trinity):
Yuan Mei (supervision jointly with Mark Setterfield), August 2011- May 2012 -Winner of Ferguson Prize in Economics for the best senior honors thesis.
Thesis Title: U.S. Consumption Function for the Unite States- An Empirical Test of the Life-Cycle Hypothesis
Since the outbreak of the financial crisis in 2008, high household consumption that was previously boosted by debt-financing has shrunk significantly. The validity of conventional models of consumption that are mainly based on the life-cycle hypothesis has thus been called into question. This thesis utilizes empirical analysis to test the explanatory power of a modified Keynesian consumption function that captures household balance sheet movements. In addition to a short run OLS model, a VEC model and a DOLS model are constructed to examine the long run cointegrating relationship between consumption and other macroeconomic variables. Neither the regression results of the short run model nor those of the long run models are compatible with the life-cycle hypothesis. Theories based on relative consumption perform more satisfactorily in explaining the estimating results.