Details about Yi Wen

Workplace:

Antai College of Economics and Management, Shanghai Jiao Tong University, (more information at EDIRC)

Access statistics for papers by Yi Wen.

Last updated 2025-01-06. Update your information in the RePEc Author Service.

Short-id: pwe11

---

Jump to Journal Articles Chapters Software Items Editor

Working Papers

2024

1. The Ramsey Steady-State Conundrum in Heterogeneous-Agent Economies
   Working Papers, Federal Reserve Bank of St. Louis View citations (1)
   See also Journal Article The Ramsey steady-state conundrum in heterogeneous-agent economies, Journal of Economic Theory, Elsevier (2024) (2024)

2023

2. Optimal Dynamic Tax-Transfer Policies in Heterogeneous-Agents Economies
   Working Papers, Federal Reserve Bank of St. Louis

2022

3. The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty
   Working Papers, Federal Reserve Bank of St. Louis View citations (6)
   See also Journal Article The determination of public debt under both aggregate and idiosyncratic uncertainty, Journal of Economic Theory, Elsevier (2022) View citations (3) (2022)
4. The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate
   Working Papers, HAL View citations (1)
   Also in Working Papers, Federal Reserve Bank of St. Louis (2016) View citations (8)
   Post-Print, HAL (2022)
   Working papers, Banque de France (2016) View citations (9)
   See also Journal Article The inverted leading indicator property and redistribution effect of the interest rate, European Economic Review, Elsevier (2022) (2022)

2021

5. Are Government Bonds Net Wealth or a Liability? ---Optimal Debt and Taxes in an OLG Model with Uninsurable Income Risk
   Working Papers, Federal Reserve Bank of St. Louis
6. Are Unconditional Lump-sum Transfers a Good Idea?
   Working Papers, Federal Reserve Bank of St. Louis
   See also Journal Article Are unconditional lump-sum transfers a good idea?, Economics Letters, Elsevier (2021) (2021)
7. How COVID-19 Has Impacted Stock Performance by Industry
   On the Economy, Federal Reserve Bank of St. Louis
8. Not All Bursting Market Bubbles Have the Same Recessionary Effect
   On the Economy, Federal Reserve Bank of St. Louis
9. Optimal Fiscal Policy under Capital Overaccumulation
   Working Papers, Federal Reserve Bank of St. Louis
   See also Journal Article Optimal fiscal policy under capital overaccumulation, Macroeconomic Dynamics, Cambridge University Press (2023) (2023)
10. Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)
    See also Journal Article Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2022) View citations (15) (2022)
11. The Poverty of Macroeconomics --- What the Chemical Revolution Tells Us about Neoclassical Production Function
    Working Papers, Federal Reserve Bank of St. Louis
12. Time-Inconsistent Optimal Quantity of Debt
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
    See also Journal Article Time-inconsistent optimal quantity of debt, European Economic Review, Elsevier (2021) View citations (3) (2021)

2020

13. Early U.S. Trade Deficits and Industrialization
    On the Economy, Federal Reserve Bank of St. Louis
14. How to Achieve a V-Shaped Recovery amid the COVID-19 Pandemic
    On the Economy, Federal Reserve Bank of St. Louis
15. Shifts in U.S. Trade Balance and Industrialization
    On the Economy, Federal Reserve Bank of St. Louis
16. Should Capital Be Taxed?
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
    See also Journal Article Should capital be taxed?, Economics Letters, Elsevier (2021) View citations (4) (2021)
17. Trade and Gold Reserves after the Demise of the Classical Gold Standard
    On the Economy, Federal Reserve Bank of St. Louis
18. Trade and U.S. Gold Reserves during the Classical Gold Standard Era
    On the Economy, Federal Reserve Bank of St. Louis
19. V-Shaped Recovery Eludes G-7 Countries
    On the Economy, Federal Reserve Bank of St. Louis

2019

20. Don't Tax Capital---Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
    2019 Meeting Papers, Society for Economic Dynamics View citations (12)
21. International credit markets and global business cycles
    Post-Print, HAL View citations (3)
    Also in AMSE Working Papers, Aix-Marseille School of Economics, France (2018) View citations (1)
    Working Papers, HAL (2018) View citations (1)
    Working Papers, Federal Reserve Bank of St. Louis (2018) View citations (1)
    See also Journal Article International credit markets and global business cycles, International Journal of Economic Theory, The International Society for Economic Theory (2019) View citations (3) (2019)
22. Time-Varying Networks and the Efficacy of Money Without Sticky Prices
    2019 Meeting Papers, Society for Economic Dynamics
23. What Does Financial Crisis Tell Us About Exporter Behavior and Credit Reallocation?
    Working Papers, Federal Reserve Bank of St. Louis

2018

24. A Search-Based Neoclassical Model of Capital Reallocation
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article A search-based neoclassical model of capital reallocation, European Economic Review, Elsevier (2020) View citations (5) (2020)
25. Escaping the Middle-Income Trap: A Cross-Country Analysis on the Patterns of Industrial Upgrading
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
26. Long and Plosser Meet Bewley and Lucas
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)
    See also Journal Article Long and Plosser meet Bewley and Lucas, Journal of Monetary Economics, Elsevier (2019) View citations (6) (2019)

2017

27. Flight to What? — Dissecting Liquidity Shortages in the Financial Crisis
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
28. Optimal Monetary Policy under Negative Interest Rate
    Working Papers, Federal Reserve Bank of St. Louis View citations (14)
29. Optimal Ramsey Capital Income Taxation —A Reappraisal
    Working Papers, Federal Reserve Bank of St. Louis View citations (13)

2016

30. Interest Rate Dynamics, Variable-Rate Loans, and the Business Cycle
    2016 Meeting Papers, Society for Economic Dynamics View citations (2)
31. The Visible Hand: The Role of Government in China’s Long-Awaited Industrial Revolution
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article The visible hand: the role of government in China’s long-awaited industrial revolution, Journal of Chinese Economic and Business Studies, Taylor & Francis Journals (2019) View citations (1) (2019)

2015

32. Credit Search and Credit Cycles
    Working Papers, Federal Reserve Bank of St. Louis View citations (14)
    See also Journal Article Credit search and credit cycles, Economic Theory, Springer (2016) View citations (17) (2016)
33. Institutions Do Not Rule: Reassessing the Driving Forces of Economic Development
    Working Papers, Federal Reserve Bank of St. Louis View citations (5)
34. Interest Rate Dynamics, Variable-Rate Loan Contracts, and the Business Cycle
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
35. Self-Fulfilling Credit Cycles
    Working Paper Series of the Department of Economics, University of Konstanz, Department of Economics, University of Konstanz View citations (11)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2015) View citations (7)
    CESifo Working Paper Series, CESifo (2015) View citations (10)
    See also Journal Article Self-Fulfilling Credit Cycles, The Review of Economic Studies, Review of Economic Studies Ltd (2016) View citations (34) (2016)
36. The Making of an Economic Superpower―Unlocking China’s Secret of Rapid Industrialization
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
37. The great housing boom of China
    FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta
    Also in Working Papers, Federal Reserve Bank of St. Louis (2014) View citations (14)
    See also Journal Article The Great Housing Boom of China, American Economic Journal: Macroeconomics, American Economic Association (2017) View citations (106) (2017)

2014

38. Money, liquidity and welfare
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
    See also Journal Article Money, liquidity and welfare, European Economic Review, Elsevier (2015) View citations (27) (2015)
39. QE: when and how should the Fed exit?
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
40. Withstanding great recession like China
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)
    See also Journal Article Withstanding the Great Recession Like China, Manchester School, University of Manchester (2019) View citations (17) (2019)

2013

41. Evaluating unconventional monetary policies -why aren’t they more effective?
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
42. Financial development and long-run volatility trends
    Working Papers, Federal Reserve Bank of St. Louis View citations (5)
    See also Journal Article Financial Development and Long-Run Volatility Trends, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2018) View citations (13) (2018)
43. Leveraged Borrowing and Boom-Bust Cycles
    Post-Print, HAL View citations (23)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2010) View citations (6)
    See also Journal Article Leveraged Borrowing and Boom-Bust Cycles, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2013) View citations (22) (2013)
44. Liquidity and Welfare
    2013 Meeting Papers, Society for Economic Dynamics
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012)
45. Macroeconomic Effects of Government Spending in China
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
    See also Journal Article Macroeconomic effects of government spending in China, Pacific Economic Review, Wiley Blackwell (2019) View citations (10) (2019)
46. Multiplier Effects of Government Spending: A Tale of China
    2013 Meeting Papers, Society for Economic Dynamics View citations (2)
47. Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach
    2013 Meeting Papers, Society for Economic Dynamics
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) View citations (5)
48. Uncertainty and Sentiment-Driven Equilibria
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2013) View citations (9)
    See also Chapter Uncertainty and Sentiment-Driven Equilibria, Studies in Economic Theory, Springer (2017) View citations (2) (2017)

2012

49. Capital, finance, and trade collapse
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
50. Housing prices and the high Chinese saving rate puzzle
    Working Papers, Federal Reserve Bank of St. Louis View citations (41)
    See also Journal Article Housing prices and the high Chinese saving rate puzzle, China Economic Review, Elsevier (2012) View citations (44) (2012)
51. Sentiments and Aggregate Demand Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) View citations (7)
    See also Journal Article Sentiments and Aggregate Demand Fluctuations, Econometrica, Econometric Society (2015) View citations (114) (2015)
52. When Do Inventories Destabilize the Economy? ---A Tractable Approach to (S,s) Policies
    2012 Meeting Papers, Society for Economic Dynamics

2011

53. Input and output inventory dynamics
    Working Papers, Federal Reserve Bank of St. Louis View citations (34)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) View citations (2)
    See also Journal Article Input and Output Inventory Dynamics, American Economic Journal: Macroeconomics, American Economic Association (2011) View citations (36) (2011)
54. Making sense of China’s astronomical foreign reserves
    Working Papers, Federal Reserve Bank of St. Louis
55. Making sense of China’s excessive foreign reserves
    Working Papers, Federal Reserve Bank of St. Louis View citations (7)
56. OPEC´s Oil Exporting Strategy and Macroeconomic (In)Stability
    NIPE Working Papers, NIPE - Universidade do Minho View citations (2)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2011) View citations (1)
    See also Journal Article OPEC's oil exporting strategy and macroeconomic (in)stability, Energy Economics, Elsevier (2012) View citations (10) (2012)
57. When do inventories destabilize the economy? an analytical approach to (S,s) policies
    Working Papers, Federal Reserve Bank of St. Louis

2010

58. Can rising housing prices explain China’s high household saving rate?
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
    See also Journal Article Can rising housing prices explain China’s high household saving rate?, Review, Federal Reserve Bank of St. Louis (2011) View citations (3) (2011)
59. Dissecting Taylor Rules in a Structural VAR
    IMF Working Papers, International Monetary Fund View citations (8)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2010) View citations (7)
60. Financial Development and Economic Volatility:A Unified Explanation
    2010 Meeting Papers, Society for Economic Dynamics View citations (3)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) View citations (7)
61. Hayashi meets Kiyotaki and Moore: a theory of capital adjustment costs
    Working Papers, Federal Reserve Bank of St. Louis View citations (5)
62. Liquidity demand and welfare in a heterogeneous-agent economy
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)
63. Optimal money demand in a heterogeneous-agent cash-in-advance economy
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)

2009

64. An analytical approach to buffer-stock saving under borrowing constraints
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
65. Inventory accelerator in general equilibrium
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)
66. Leveraged financing, over investment, and boom-bust cycles
    Working Papers, HAL View citations (1)
67. Liquidity and welfare in a heterogeneous-agent economy
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
68. Saving and growth under borrowing constraints explaining the \"high saving rate\" puzzle
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
69. Speculative bubbles and financial crisis
    Working Papers, Federal Reserve Bank of St. Louis View citations (16)
    See also Journal Article Speculative Bubbles and Financial Crises, American Economic Journal: Macroeconomics, American Economic Association (2012) View citations (39) (2012)
70. When does heterogeneity matter?
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)

2008

71. A Defense of RBC:Understanding the Puzzling Effects of Technology Shocks
    2008 Meeting Papers, Society for Economic Dynamics
72. Dynamics of externalities: a second-order perspective
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
    See also Journal Article Dynamics of externalities: a second-order perspective, Review, Federal Reserve Bank of St. Louis (2011) (2011)
73. Inventories, liquidity, and the macroeconomy
    Working Papers, Federal Reserve Bank of St. Louis
74. Resuscitating the credit cycle
    Working Papers, Federal Reserve Bank of St. Louis

2007

75. A note on oil dependence and economic instability
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article A NOTE ON OIL DEPENDENCE AND ECONOMIC INSTABILITY, Macroeconomic Dynamics, Cambridge University Press (2008) View citations (6) (2008)
76. Endogenous volatility, endogenous growth, and large welfare gains from stabilization policies
    Working Papers, Federal Reserve Bank of St. Louis
77. Global indeterminacy in locally determinate RBC models
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
78. Imperfect competition and indeterminacy of aggregate output
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
    See also Journal Article Imperfect competition and indeterminacy of aggregate output, Journal of Economic Theory, Elsevier (2008) View citations (17) (2008)
79. Incomplete information and self-fulfilling prophecies
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
80. Oil Dependence and Economic Instability
    NIPE Working Papers, NIPE - Universidade do Minho View citations (2)
    Also in 2007 Meeting Papers, Society for Economic Dynamics (2007)
81. Understanding the puzzling effects of technology shocks
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)

2006

82. Demand shocks and economic fluctuations
    Working Papers, Federal Reserve Bank of St. Louis View citations (9)
    See also Journal Article Demand shocks and economic fluctuations, Economics Letters, Elsevier (2006) View citations (10) (2006)
83. Granger causality and equilibrium business cycle theory
    Working Papers, Federal Reserve Bank of St. Louis
    Also in Working Papers, Cornell University, Center for Analytic Economics (2001)
    See also Journal Article Granger causality and equilibrium business cycle theory, Review, Federal Reserve Bank of St. Louis (2007) View citations (3) (2007)
84. Imperfect competition and sunspots
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
85. Inflation dynamics: a cross-country investigation
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
    See also Journal Article Inflation dynamics: A cross-country investigation, Journal of Monetary Economics, Elsevier (2007) View citations (44) (2007)
86. Solving linear difference systems with lagged expectations by a method of undetermined coefficients
    Working Papers, Federal Reserve Bank of St. Louis View citations (8)
87. Understanding the large negative impact of oil shocks
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)
    See also Journal Article Understanding the Large Negative Impact of Oil Shocks, Journal of Money, Credit and Banking, Blackwell Publishing (2007) View citations (4) (2007)

2005

88. Another look at sticky prices and output persistence
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)
    Also in Working Papers, Cornell University, Center for Analytic Economics (2004) View citations (1)
    See also Journal Article Another look at sticky prices and output persistence, Journal of Economic Dynamics and Control, Elsevier (2006) View citations (24) (2006)
89. By force of demand: explaining international comovements and the saving-investment correlation puzzle
    Working Papers, Federal Reserve Bank of St. Louis
90. Durable good inventories and the volatility of production: explaining the less volatile U.S. economy
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)
    Also in Working Papers, Cornell University, Center for Analytic Economics (2004) View citations (1)
91. Foreign trade and equilibrium indeterminacy
    Working Papers, Federal Reserve Bank of St. Louis View citations (7)
    Also in NIPE Working Papers, NIPE - Universidade do Minho (2004) View citations (8)
    Working Papers, Cornell University, Center for Analytic Economics (2004) View citations (4)
92. Labor hoarding and inventories
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
93. Measuring interest rates as determined by thrift and productivity
    Working Papers, Federal Reserve Bank of St. Louis
    Also in Working Papers, Cornell University, Center for Analytic Economics (2000)
94. Production and inventory behavior of capital
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article Production and Inventory Behavior of Capital, Annals of Economics and Finance, Society for AEF (2007) (2007)
95. The effectiveness of monetary policy: an assessment
    Working Papers, Federal Reserve Bank of St. Louis
96. The multiplier: a general equilibrium analysis of multi-stage-fabrication economy with inventories
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
97. Understanding the Impact of Oil Shocks
    Working Papers, Cornell University, Center for Analytic Economics View citations (3)
    Also in NIPE Working Papers, NIPE - Universidade do Minho (2005) View citations (3)
98. Uniform working hours and structural unemployment
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article Uniform Working Hours and Structural Unemployment, Annals of Economics and Finance, Society for AEF (2007) View citations (2) (2007)
99. Wavelet: a new tool for business cycle analysis
    Working Papers, Federal Reserve Bank of St. Louis View citations (16)
100. Where's the beef? the trivial dynamics of real business cycle models
     Working Papers, Federal Reserve Bank of St. Louis View citations (1)

2004

101. Endogenous Money or Sticky Price? Comment on Monetary Non-neutrality and Inflation Dynamics
     Working Papers, Cornell University, Center for Analytic Economics
     See also Journal Article Endogenous money or sticky prices?--comment on monetary non-neutrality and inflation dynamics, Journal of Economic Dynamics and Control, Elsevier (2005) View citations (7) (2005)
102. General Equilibrium Analysis of the Supply of Capital
     Working Papers, Cornell University, Center for Analytic Economics

2003

103. Durable Goods Inventories and the Volatility of Production: A Puzzle
     Working Papers, Cornell University, Center for Analytic Economics
104. On the Optimal Volume of Labor Hoarding
     Working Papers, Cornell University, Center for Analytic Economics
105. The Power of Demand: A General Equilibrium Analysis of Multi-Stage-Fabrication Economy with Inventories
     Working Papers, Cornell University, Center for Analytic Economics View citations (1)
106. Understanding the Inventory Cycle: I. Partial Equilibrium Analysis
     Working Papers, Cornell University, Center for Analytic Economics

2002

107. Fickle Consumers versus Random Technology: Explaining Domestic and International Comovements
     Working Papers, Cornell University, Center for Analytic Economics View citations (11)
108. Understanding the Inventory Cycle
     Working Papers, Cornell University, Center for Analytic Economics View citations (6)
     See also Journal Article Understanding the inventory cycle, Journal of Monetary Economics, Elsevier (2005) View citations (54) (2005)
109. What Does It Take to Explain Procyclical Productivity
     Working Papers, Cornell University, Center for Analytic Economics View citations (1)
     See also Journal Article What Does It Take to Explain Procyclical Productivity?, The B.E. Journal of Macroeconomics, De Gruyter (2004) View citations (34) (2004)
110. What's unique about the federal funds rate? evidence from a spectral perspective
     Working Papers, Federal Reserve Bank of St. Louis View citations (2)
     See also Journal Article What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective*, Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford (2007) View citations (1) (2007)

2001

111. Demand-Driven Business Cycles: Explaining Domestic and International Comovements
     Working Papers, Cornell University, Center for Analytic Economics View citations (5)
112. Indeterminacy, Aggregate Demand, and the Real Business Cycle
     Working Papers, Cornell University, Center for Analytic Economics
     See also Journal Article Indeterminacy, aggregate demand, and the real business cycle, Journal of Monetary Economics, Elsevier (2004) View citations (80) (2004)
113. Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? Comment
     Working Papers, Cornell University, Center for Analytic Economics View citations (5)
114. Uniform Working Hours: A Culprit of Structural Unemployment
     Working Papers, Cornell University, Center for Analytic Economics
115. Why Does Consumption Lead the Business Cycle?
     Working Papers, Cornell University, Center for Analytic Economics

2000

116. Understanding Self-Fulfilling Rational Expectations Equilibria in Real Business Cycle Models
     Working Papers, Cornell University, Center for Analytic Economics
     See also Journal Article Understanding self-fulfilling rational expectations equilibria in real business cycle models, Journal of Economic Dynamics and Control, Elsevier (2001) View citations (30) (2001)

1999

117. The Business Cycle Effects of Seasonal Shocks
     Working Papers, Cornell University, Center for Analytic Economics

1996

118. Cyclical Implications of the Variable Utilization of Physical and Human Capital
     Working Papers, University of Iowa, Department of Economics View citations (10)
     Also in Macroeconomics, University Library of Munich, Germany (1996) View citations (8)

Journal Articles

2024

1. The Ramsey steady-state conundrum in heterogeneous-agent economies
   Journal of Economic Theory, 2024, 220, (C)
   See also Working Paper The Ramsey Steady-State Conundrum in Heterogeneous-Agent Economies, Working Papers (2024) View citations (1) (2024)

2023

2. Optimal fiscal policy under capital overaccumulation
   Macroeconomic Dynamics, 2023, 27, (6), 1706-1736
   See also Working Paper Optimal Fiscal Policy under Capital Overaccumulation, Working Papers (2021) (2021)

2022

3. Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
   Review of Economic Dynamics, 2022, 46, 124-160 View citations (15)
   See also Working Paper Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences, Working Papers (2021) View citations (6) (2021)
   Software Item Code and data files for "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences", Computer Codes (2021) (2021)
4. The determination of public debt under both aggregate and idiosyncratic uncertainty
   Journal of Economic Theory, 2022, 203, (C) View citations (3)
   See also Working Paper The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty, Working Papers (2022) View citations (6) (2022)
5. The inverted leading indicator property and redistribution effect of the interest rate
   European Economic Review, 2022, 148, (C)
   See also Working Paper The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate, Working Papers (2022) View citations (1) (2022)

2021

6. Are unconditional lump-sum transfers a good idea?
   Economics Letters, 2021, 209, (C)
   See also Working Paper Are Unconditional Lump-sum Transfers a Good Idea?, Working Papers (2021) (2021)
7. China's industrial revolution: A new perspective
   China Economic Review, 2021, 69, (C) View citations (1)
8. How to Jump-Start Industrialization in Sub-Saharan Africa
   The Regional Economist, 2021
9. Should capital be taxed?
   Economics Letters, 2021, 200, (C) View citations (4)
   See also Working Paper Should Capital Be Taxed?, Working Papers (2020) View citations (2) (2020)
10. Time-inconsistent optimal quantity of debt
    European Economic Review, 2021, 140, (C) View citations (3)
    See also Working Paper Time-Inconsistent Optimal Quantity of Debt, Working Papers (2021) View citations (3) (2021)

2020

11. A search-based neoclassical model of capital reallocation
    European Economic Review, 2020, 128, (C) View citations (5)
    See also Working Paper A Search-Based Neoclassical Model of Capital Reallocation, Working Papers (2018) (2018)
12. Anecdotal Evidence Suggests State Capacity Unrelated to COVID-19 Spread
    The Regional Economist, 2020, 28, (4)
13. Is the Phillips Curve Still Alive?
    Review, 2020, 102, (2), 121-144 View citations (7)
14. The Changing Relationship between Trade and America’s Gold Reserves
    The Regional Economist, 2020, 28, (1)

2019

15. Changing Trade Relations May Affect U.S. Auto Exports in Long Run
    The Regional Economist, 2019, 27, (1)
16. Historical U.S. Trade Deficits
    Economic Synopses, 2019, (13)
17. International credit markets and global business cycles
    International Journal of Economic Theory, 2019, 15, (1), 53-75 View citations (3)
    See also Working Paper International credit markets and global business cycles, Post-Print (2019) View citations (3) (2019)
18. Long and Plosser meet Bewley and Lucas
    Journal of Monetary Economics, 2019, 102, (C), 70-92 View citations (6)
    See also Working Paper Long and Plosser Meet Bewley and Lucas, Working Papers (2018) View citations (4) (2018)
19. Macroeconomic effects of government spending in China
    Pacific Economic Review, 2019, 24, (3), 416-446 View citations (10)
    See also Working Paper Macroeconomic Effects of Government Spending in China, Working Papers (2013) View citations (3) (2013)
20. The visible hand: the role of government in China’s long-awaited industrial revolution
    Journal of Chinese Economic and Business Studies, 2019, 17, (1), 9-45 View citations (1)
    Also in Review, 2016, 98, (3), 189-226 (2016)
    See also Working Paper The Visible Hand: The Role of Government in China’s Long-Awaited Industrial Revolution, Working Papers (2016) (2016)
21. Withstanding the Great Recession Like China
    Manchester School, 2019, 87, (2), 138-182 View citations (17)
    See also Working Paper Withstanding great recession like China, Working Papers (2014) View citations (4) (2014)

2018

22. Financial Development and Long-Run Volatility Trends
    Review of Economic Dynamics, 2018, 28, 221-251 View citations (13)
    See also Software Item Code and data files for "Financial Development and Long-Run Volatility Trends", Computer Codes (2017) (2017)
    Working Paper Financial development and long-run volatility trends, Working Papers (2013) View citations (5) (2013)
23. Housing Costs and Regional Income Inequality in China and the U.S
    The Regional Economist, 2018, 26, (2)
24. Income and Living Standards within the Eighth District
    The Regional Economist, 2018, 26, (1)
25. Understanding the Roots of the U.S. Trade Deficit
    The Regional Economist, 2018, 26, (3)
26. Understanding the Trade Imbalance and Employment Decline in U.S. Manufacturing
    Economic Synopses, 2018, (15), 1-3

2017

27. Does More Financial Development Lead to More or Less Volatility?
    The Regional Economist, 2017, 25, (2) View citations (1)
28. Looking for the Positives In Negative Interest Rates
    The Regional Economist, 2017, 25, (4)
29. Secured and Unsecured Debt Over the Business Cycle
    Economic Synopses, 2017, (1), 1-2
30. The Great Housing Boom of China
    American Economic Journal: Macroeconomics, 2017, 9, (2), 73-114 View citations (106)
    See also Working Paper The great housing boom of China, FRB Atlanta CQER Working Paper (2015) (2015)
31. Two‐way Capital Flows and Global Imbalances
    Economic Journal, 2017, 127, (599), 229-269 View citations (9)

2016

32. China's Rapid Rise: From Backward Agrarian Society to Industrial Powerhouse in Just 35 Years
    The Regional Economist, 2016, (April) View citations (1)
33. Credit search and credit cycles
    Economic Theory, 2016, 61, (2), 215-239 View citations (17)
    See also Working Paper Credit Search and Credit Cycles, Working Papers (2015) View citations (14) (2015)
34. Relative Income Traps
    Review, 2016, 98, (1), 41-60 View citations (4)
35. Self-Fulfilling Credit Cycles
    The Review of Economic Studies, 2016, 83, (4), 1364-1405 View citations (34)
    See also Working Paper Self-Fulfilling Credit Cycles, Working Paper Series of the Department of Economics, University of Konstanz (2015) View citations (11) (2015)

2015

36. Money, liquidity and welfare
    European Economic Review, 2015, 76, (C), 1-24 View citations (27)
    See also Working Paper Money, liquidity and welfare, Working Papers (2014) View citations (1) (2014)
37. Recovery from the Great Recession Has Varied around the World
    The Regional Economist, 2015, (Oct) View citations (6)
38. Sentiments and Aggregate Demand Fluctuations
    Econometrica, 2015, 83, 549-585 View citations (114)
    See also Working Paper Sentiments and Aggregate Demand Fluctuations, NBER Working Papers (2012) View citations (19) (2012)
39. Trapped: Few Developing Countries Can Climb the Economic Ladder or Stay There
    The Regional Economist, 2015, (Oct) View citations (4)

2014

40. Food Prices and Inflation in China and the U.S. Are Following Similar Paths
    The Regional Economist, 2014
41. The liquidity trap: an alternative explanation for today's low inflation
    The Regional Economist, 2014 View citations (2)
42. What inventories tell us about aggregate fluctuations—A tractable approach to (S,s) policies
    Journal of Economic Dynamics and Control, 2014, 44, (C), 196-217 View citations (9)
43. When and how to exit quantitative easing?
    Review, 2014, 96, (3), 243-265 View citations (6)

2013

44. Leveraged Borrowing and Boom-Bust Cycles
    Review of Economic Dynamics, 2013, 16, (4), 617-633 View citations (22)
    See also Working Paper Leveraged Borrowing and Boom-Bust Cycles, Post-Print (2013) View citations (23) (2013)
45. Low inflation in a world of securitization
    Economic Synopses, 2013
46. The great Chinese housing boom
    Economic Synopses, 2013 View citations (10)

2012

47. Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment
    Review of Economic Dynamics, 2012, 15, (2), 207-225 View citations (26)
    See also Software Item Code files for "Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment Costs", Computer Codes (2011) (2011)
48. Housing prices and the high Chinese saving rate puzzle
    China Economic Review, 2012, 23, (2), 265-283 View citations (44)
    See also Working Paper Housing prices and the high Chinese saving rate puzzle, Working Papers (2012) View citations (41) (2012)
49. OPEC's oil exporting strategy and macroeconomic (in)stability
    Energy Economics, 2012, 34, (1), 132-136 View citations (10)
    See also Working Paper OPEC´s Oil Exporting Strategy and Macroeconomic (In)Stability, NIPE Working Papers (2011) View citations (2) (2011)
50. Okun’s law: a meaningful guide for monetary policy?
    Economic Synopses, 2012 View citations (5)
51. Reducing the U.S. deficit by recycling capital inflows
    Economic Synopses, 2012
52. Speculative Bubbles and Financial Crises
    American Economic Journal: Macroeconomics, 2012, 4, (3), 184-221 View citations (39)
    See also Working Paper Speculative bubbles and financial crisis, Working Papers (2009) View citations (16) (2009)

2011

53. Can rising housing prices explain China’s high household saving rate?
    Review, 2011, 93, (Mar), 67-88 View citations (3)
    See also Working Paper Can rising housing prices explain China’s high household saving rate?, Working Papers (2010) View citations (1) (2010)
54. Dynamics of externalities: a second-order perspective
    Review, 2011, 93, (May), 187-206
    See also Working Paper Dynamics of externalities: a second-order perspective, Working Papers (2008) View citations (2) (2008)
55. Input and Output Inventory Dynamics
    American Economic Journal: Macroeconomics, 2011, 3, (4), 181-212 View citations (36)
    See also Working Paper Input and output inventory dynamics, Working Papers (2011) View citations (34) (2011)
56. Monetary policy's effects on unemployment
    Economic Synopses, 2011
57. Oil price shocks and inflation risk
    Economic Synopses, 2011 View citations (5)
58. RMB appreciation and U.S. inflation risk
    Economic Synopses, 2011
59. Understanding the Effects of Technology Shocks
    Review of Economic Dynamics, 2011, 14, (4), 705-724 View citations (13)
    See also Software Item Code and data files for "Understanding the Effects of Technology Shocks", Computer Codes (2010) (2010)
60. Volatility, growth, and welfare
    Journal of Economic Dynamics and Control, 2011, 35, (10), 1696-1709 View citations (16)

2010

61. Economic growth and the global savings glut
    Economic Synopses, 2010
62. Money supply, credit expansion, and housing price inflation
    Economic Synopses, 2010
63. Why aren't the Chinese buying more American goods?
    Economic Synopses, 2010
64. Why do people dislike inflation?
    Economic Synopses, 2010

2009

65. Can monetary policy affect GDP growth?
    Economic Synopses, 2009 View citations (1)
66. Global indeterminacy in locally determinate real business cycle models
    International Journal of Economic Theory, 2009, 5, (1), 49-60 View citations (14)

2008

67. A NOTE ON OIL DEPENDENCE AND ECONOMIC INSTABILITY
    Macroeconomic Dynamics, 2008, 12, (5), 717-723 View citations (6)
    See also Working Paper A note on oil dependence and economic instability, Working Papers (2007) (2007)
68. Imperfect competition and indeterminacy of aggregate output
    Journal of Economic Theory, 2008, 143, (1), 519-540 View citations (17)
    See also Working Paper Imperfect competition and indeterminacy of aggregate output, Working Papers (2007) View citations (1) (2007)
69. Why do Chinese households save so much?
    International Economic Trends, 2008, (Aug) View citations (4)

2007

70. By force of demand: Explaining international comovements
    Journal of Economic Dynamics and Control, 2007, 31, (1), 1-23 View citations (22)
71. Granger causality and equilibrium business cycle theory
    Review, 2007, 89, (May), 195-206 View citations (3)
    See also Working Paper Granger causality and equilibrium business cycle theory, Working Papers (2006) (2006)
72. Inflation dynamics: A cross-country investigation
    Journal of Monetary Economics, 2007, 54, (7), 2004-2031 View citations (44)
    See also Working Paper Inflation dynamics: a cross-country investigation, Working Papers (2006) View citations (3) (2006)
73. Oil shocks and price stability
    Monetary Trends, 2007, (Dec)
74. Production and Inventory Behavior of Capital
    Annals of Economics and Finance, 2007, 8, (1), 95-112
    See also Working Paper Production and inventory behavior of capital, Working Papers (2005) (2005)
75. The U.S. consumption boom and trade deficit
    National Economic Trends, 2007, (Oct)
76. Understanding the Large Negative Impact of Oil Shocks
    Journal of Money, Credit and Banking, 2007, 39, (4), 925-944 View citations (4)
    Also in Journal of Money, Credit and Banking, 2007, 39, (4), 925-944 (2007) View citations (41)
    See also Working Paper Understanding the large negative impact of oil shocks, Working Papers (2006) View citations (6) (2006)
77. Uniform Working Hours and Structural Unemployment
    Annals of Economics and Finance, 2007, 8, (1), 113-136 View citations (2)
    See also Working Paper Uniform working hours and structural unemployment, Working Papers (2005) (2005)
78. What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective*
    Oxford Bulletin of Economics and Statistics, 2007, 69, (2), 293-319 View citations (1)
    See also Working Paper What's unique about the federal funds rate? evidence from a spectral perspective, Working Papers (2002) View citations (2) (2002)

2006

79. Another look at sticky prices and output persistence
    Journal of Economic Dynamics and Control, 2006, 30, (12), 2533-2552 View citations (24)
    See also Working Paper Another look at sticky prices and output persistence, Working Papers (2005) View citations (4) (2005)
80. Demand shocks and economic fluctuations
    Economics Letters, 2006, 90, (3), 378-383 View citations (10)
    See also Working Paper Demand shocks and economic fluctuations, Working Papers (2006) View citations (9) (2006)
81. The quantity theory of money
    Monetary Trends, 2006, (Nov)
82. The seasonal cycle and the business cycle
    National Economic Trends, 2006, (Jul)

2005

83. Endogenous money or sticky prices?--comment on monetary non-neutrality and inflation dynamics
    Journal of Economic Dynamics and Control, 2005, 29, (8), 1361-1383 View citations (7)
    See also Working Paper Endogenous Money or Sticky Price? Comment on Monetary Non-neutrality and Inflation Dynamics, Working Papers (2004) (2004)
84. Understanding the inventory cycle
    Journal of Monetary Economics, 2005, 52, (8), 1533-1555 View citations (54)
    See also Working Paper Understanding the Inventory Cycle, Working Papers (2002) View citations (6) (2002)

2004

85. Indeterminacy, aggregate demand, and the real business cycle
    Journal of Monetary Economics, 2004, 51, (3), 503-530 View citations (80)
    See also Working Paper Indeterminacy, Aggregate Demand, and the Real Business Cycle, Working Papers (2001) (2001)
86. What Does It Take to Explain Procyclical Productivity?
    The B.E. Journal of Macroeconomics, 2004, 4, (1), 40 View citations (34)
    See also Working Paper What Does It Take to Explain Procyclical Productivity, Working Papers (2002) View citations (1) (2002)

2002

87. The business cycle effects of Christmas
    Journal of Monetary Economics, 2002, 49, (6), 1289-1314 View citations (19)

2001

88. A generalized method of impulse identification
    Economics Letters, 2001, 73, (3), 367-374 View citations (3)
89. Residential Investment and Economic Growth
    Annals of Economics and Finance, 2001, 2, (2), 437-444 View citations (7)
90. Understanding self-fulfilling rational expectations equilibria in real business cycle models
    Journal of Economic Dynamics and Control, 2001, 25, (8), 1221-1240 View citations (30)
    See also Working Paper Understanding Self-Fulfilling Rational Expectations Equilibria in Real Business Cycle Models, Working Papers (2000) (2000)

1999

91. A simple nonlinear filter for economic time series analysis
    Economics Letters, 1999, 64, (2), 151-160 View citations (8)

1998

92. Can a real business cycle model pass the Watson test?
    Journal of Monetary Economics, 1998, 42, (1), 185-203 View citations (18)
93. Capacity Utilization under Increasing Returns to Scale
    Journal of Economic Theory, 1998, 81, (1), 7-36 View citations (237)
94. Indeterminacy, dynamic adjustment costs, and cycles
    Economics Letters, 1998, 59, (2), 213-216 View citations (13)
95. Investment cycles
    Journal of Economic Dynamics and Control, 1998, 22, (7), 1139-1165 View citations (23)

Chapters

2017

1. Uncertainty and Sentiment-Driven Equilibria
   Springer View citations (2)
   See also Working Paper Uncertainty and Sentiment-Driven Equilibria, National Bureau of Economic Research, Inc (2013) View citations (14) (2013)

Software Items

2021

1. Code and data files for "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2022) View citations (15) (2022)

2017

2. Code and data files for "Financial Development and Long-Run Volatility Trends"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Financial Development and Long-Run Volatility Trends, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2018) View citations (13) (2018)

2011

3. Code files for "Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment Costs"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2012) View citations (26) (2012)

2010

4. Code and data files for "Understanding the Effects of Technology Shocks"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Understanding the Effects of Technology Shocks, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) View citations (13) (2011)

Editor

1. China Economic Review
   Elsevier