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Research Fields

Macro-Finance, Public Finance, Economic Theory

Selected Publications

Present bias and endogenous growth (with Eungsik Kim), Economics Letters, Vol. 236, 111556, 2024.

A government policy with time-inconsistent consumers (with Eungsik Kim), Journal of Economic Behavior and Organization, Vol. 214, pp. 44-67, 2023.

Dividend and corporate income taxation with present-biased consumers (with Lei Sandy Ye), Journal of Banking and Finance, Vol. 152, 106835, 2023.

Human-capital investments as a commitment device (with Lawrence Jin), Economic Modelling, Vol. 126, 106399, 2023.

Inflation-linked bonds in incomplete markets with sunspots, Macroeconomic Dynamics, Vol 27(4), pp. 928-944, 2023.

Addiction, Present-Bias, and Self-Restraint (with Lawrence Jin), Southern Economic Journal, Vol. 89(1), pp. 138-159, 2022.

The positive impact of investment subsidies on the economy with present-biased consumers, Quarterly Review of Economics and Finance, Vol 99, pp. 229-235, 2022.

Durable Goods as Commitment Devices under Quasi-Hyperbolic Discounting (with Jingoo Kang), Journal of Mathematical Economics, Vol. 99, 102561, 2022.

Aggregate savings under quasi-hyperbolic versus exponential discounting, Economics Letters, Vol. 207, 110006, 2021.

Can optimism be a remedy for present bias? (with Lei Sandy Ye), Journal of Money, Credit and Banking, Vol. 53(1), pp. 201-231, 2021.

Demand Deposit Contracts and Bank Runs with Present Biased Preferences, Journal of Banking and Finance, Vol. 119, 105901, 2020.

Industrial Subsidy Policy and the Optimal Level of Specialization (with Ram Sewak Dubey), Economic Modelling, Vol. 91, pp. 81-88, 2020.

Inflation-indexed Bonds and Nominal Bonds: Financial Innovation and Precautionary Motives, Journal of Money, Credit and Banking, Vol. 52(4), pp. 721-745, 2020.

Transfer Paradox in a Stable Equilibrium (with Ram Sewak Dubey), Economic Theory Bulletin, Vol. 7(2), pp. 259-269, 2019.

Pareto-Improving Tax Policies under Hyperbolic Discounting, International Tax and Public Finance, Vol. 26(3), pp. 618-660, 2019.

The welfare cost of excess volatility in incomplete markets with sunspots, Macroeconomic Dynamics, Vol. 23(3), pp. 1062-1073, 2019.

Present Bias and Corporate Tax Policies (with Lei Sandy Ye), Journal of Public Economic Theory, Vol. 21(9), pp. 265-290, 2019.

Pareto criterion and long-term perspective criterion under myopic discounting (with Lei Wang), Economics Bulletin, Vol. 39(1), pp. 24-32, 2019.

Comparative Advantage and Strategic Specialization, Review of International Economics, Vol. 26(1), pp. 1-19, 2018.

Advantageous Redistribution with Three Smooth CES Utility Functions (with Lei Sandy Ye), Journal of Mathematical Economics. Vol. 67, pp. 171-180, 2016.

Risk Neutrality Regions (with Yakar Kannai, Larry Selden and Xiao Wei), Journal of Mathematical Economics, Vol. 62, pp. 75-89, 2016.

Welfare criteria for quasi-hyperbolic time preferences, Economics Bulletin, Vol. 35(4), pp. 2506-2511, 2015.

Price-Level Volatility and Welfare in Incomplete Markets with Sunspots, Journal of Mathematical Economics, Vol. 56, pp. 58-66, 2015.

Non-connectedness of the set of bankruptcy-free money equilibria in the static economy: a constructive example, Macroeconomic Dynamics, Vol. 18, pp. 1539-1546, 2014.

Coalition-Enhancing Fiscal Policies in an Open Economy: A CES Framework of Gale's Transfer Paradox (with Lei Ye), Journal of Mathematical Economics, Vol. 50, pp. 141-147, 2014.

Book Chapter

Winners and Losers from Price-Level Volatility: Money Taxation and Information Frictions (with Guido Cozzi, Aditya Goenka, and Karl Shell) In Sunspots and Non-Linear Dynamics: Essays in Honor of Jean-Michel Grandmont, K. Nishimura, A. Venditti, and N. C. Yannelis (Eds.), Volume 31 of Studies in Economic Theory, Springer Verlag, 2017.

Working Papers

The real effects of inflation volatility driven by sunspots

Recovering aggregate risk aversion from observable variables (with Ram Sewak Dubey)

Commitment, Myopia and Savings

(Figure File) Forgiveness, Cooperation, and Present Bias in the Iterated Prisoner's Dilemma, (Matlab code)

Contact Information

Minwook Kang

Department of Economics

Korea University

Seoul, Republic of Korea

Room 318, PSE Building