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@article{ART002620692},
author={Deokmin Kim},
title={Domestic demand under Neoliberalism: the US and Korean Economy},
journal={Studies in Humanities and Social Sciences},
issn={1598-4230},
year={2020},
volume={63},
number={3},
pages={5-30},
doi={10.17939/hushss.2020.63.3.001}

TY - JOUR
AU - Deokmin Kim
TI - Domestic demand under Neoliberalism: the US and Korean Economy
JO - Studies in Humanities and Social Sciences
PY - 2020
VL - 63
IS - 3
PB - Institute of Humanities and Social Sciences
SP - 5
EP - 30
SN - 1598-4230
AB - This article explores long-term relationships between macroeconomic trajectories and wage inequality under neoliberalism in the US and S. Korea. The evolution of consumer debt during the neoliberal period is also considered in this study. Both countries suffered from economic crises such as the global crisis of 2008 or the Asian financial crisis in 1997-8. To capture these structural changes in both countries, we use some unit root tests with structural changes and a cointegration test with a single structural break. In this study, we found long-term patterns between domestic demand, wage inequality, and consumer debt that much of literature on neoliberalism has expected: a positive long-term relationship between consumption, wage inequality, and consumer debt; a negative long-term relationship between investment, wage inequality, consumer debt; however, if taking the structural changes in both countries, the result is quite different from the expectations in both countries.
KW - Domestic Demand;Wage inequality;Structural changes;Neoliberalism;Korean Economy;US economy.
DO - 10.17939/hushss.2020.63.3.001
ER -

Deokmin Kim. (2020). Domestic demand under Neoliberalism: the US and Korean Economy. Studies in Humanities and Social Sciences, 63(3), 5-30.

Deokmin Kim. 2020, "Domestic demand under Neoliberalism: the US and Korean Economy", Studies in Humanities and Social Sciences, vol.63, no.3 pp.5-30. Available from: doi:10.17939/hushss.2020.63.3.001

Deokmin Kim "Domestic demand under Neoliberalism: the US and Korean Economy" Studies in Humanities and Social Sciences 63.3 pp.5-30 (2020) : 5.

Deokmin Kim. Domestic demand under Neoliberalism: the US and Korean Economy. 2020; 63(3), 5-30. Available from: doi:10.17939/hushss.2020.63.3.001

Deokmin Kim. "Domestic demand under Neoliberalism: the US and Korean Economy" Studies in Humanities and Social Sciences 63, no.3 (2020) : 5-30.doi: 10.17939/hushss.2020.63.3.001

Deokmin Kim. Domestic demand under Neoliberalism: the US and Korean Economy. Studies in Humanities and Social Sciences, 63(3), 5-30. doi: 10.17939/hushss.2020.63.3.001

Deokmin Kim. Domestic demand under Neoliberalism: the US and Korean Economy. Studies in Humanities and Social Sciences. 2020; 63(3) 5-30. doi: 10.17939/hushss.2020.63.3.001

Deokmin Kim. Domestic demand under Neoliberalism: the US and Korean Economy. 2020; 63(3), 5-30. Available from: doi:10.17939/hushss.2020.63.3.001

Deokmin Kim. "Domestic demand under Neoliberalism: the US and Korean Economy" Studies in Humanities and Social Sciences 63, no.3 (2020) : 5-30.doi: 10.17939/hushss.2020.63.3.001