Hyun Woong Park

Publications:

• A Note on the Two Approaches to the Distribution of Surplus Value, Cambridge Journal of Economics, 48(5), 2024 (coauthored with Dong-Min Rieu).
• The Value Expression of Labor Time and the Rate of Surplus Value: Further Issues on the Inverse Transformation Method, Marxism 21, 20(3), 2023 (coauthored with Dong-Min Rieu)
• Shadow Banks and the Collateral Multiplier, Eastern Economic Journal, 49(2), 2022 (coauthored with Thomas Michl)
• Marxian Economics as Economics: A Review of Dong-Min Rieu’s Lecture Notes on Political Economy, Marxism 21, 19(2), 2022 (in Korean)
• Estimating the rate of surplus-value at the industry level: A case study of the South Korea using the inverse transformation method, El Trimestre Económico, 89(354), 2022 (coauthored with Dong-Min Rieu; in Spanish)
• How Dark is the Dark Side of the Diversification? Journal of Risk Finance, 2021 (coauthored with Henryk Gzyl and Pedro Cadenas).
• A Division of the Capitalist Class and the Market for Money Capital, Metroeconomica, 72(1), pp.2-21, 2021. [WP]
• A Mathematical Formulation of the Dual Nature of Unproductive Labor, Review of Radical Political Economics, 2020 (coauthored with Dong-Min Rieu).
• Unproductive Activities and the Rate of Surplus Value at the Industry Level in Korea, 1995-2015, Journal of Contemporary Asia, 50(2), pp.284-307, 2020 (coauthored with Dong-Min Rieu). [WP]
• An Input-Output Reconstruction of the Macro-Monetary Interpretation of Marxian Theory, Marxism 21, 16(3), 2019. [WP]
• A Review of the Macro-Monetary Interpretation of Marxian Labor Theory of Value, Marxism 21, 16(1), 2019.
• Securitized Banking, Procyclical Bank Leverage, and Financial Instability, Structural Change and Economic Dynamics, 49, 2019. [WP]
• Some Notes on the Temporal Single-System Interpretation of Marxian Value Theory, The Review of Social and Economic Studies (사회경제평론), 56, 2018. [WP]
• Liquidity, Bank Runs, and Fire Sales under Local Thinking, North American Journal of Economics and Finance, Vol.46, pp.89-102, 2018 (coauthored with Tom Bernardin). [WP]
• The Monetary Expression of Labor Time in a Dynamic Leontief Model, Marxism 21, Vol.13, No.2, 2016.
• Overdetermination: Althusser versus Resnick and Wolff, Rethinking Marxism, 25(3), 2013.
• The Concept of Value in Cognitive Capitalism Theory: A Critical Review of Recent Developments, Marxism 21, 9(1), 2012. (in Korean)

Working papers:

• The Profitability of Bank Capital and Household Debt. Political Economy Research Institute Working Paper Series 2024-8 (under review)
• Bank Diversification, Systemic Risk, and Market Discipline. (submitted)
• Skill Differences and Wage-Effort Relationship: Who Are More Exploited, High-Skilled or Low-Skilled Workers? University of Massachusetts Amherst Economics Working Paper 2023-9. (coauthored with Dong-Min Rieu; under review)
• Shadow Banks and the Collateral Multiplier, University of Massachusetts Amherst Economics Working Paper, 2021-12, 2021 (coauthored with Thomas Michl).
• A Marxian Model of Market for Money Capital: Profit Rate, Interest Rate, and Leverage Ratio, University of Massachusetts Amherst Economics Working Paper 2020-02, 2020
• A Puzzle about the Monetary Expression of Labor Time: An Equilibrating Mechanism or Just a Coincidence?, University of Massachusetts Amherst Economics Working Paper 2018-15, 2018 (coauthored with Dong-Min Rieu)

Work in progress:

• Market Power and Failure Risks in Banking
• Liquidity Crisis in a Market for Loanable Capital
• A Marxian Model of Financial Intermediation

Old papers:

• Leveraged-led Growth in the Circuit of Capital Model with a Banking Sector
• Turnover Time and its Relation to the Rate of Profit (with Zhun Xu)
• Endogeneity of Money and the State in Marx’s Theory of Non-commodity Money