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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 2024-06-07. Update your information in the RePEc Author Service.

Short-id: pwe11


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Working Papers

2024

  1. The Ramsey Steady-State Conundrum in Heterogeneous-Agent Economies
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)

2023

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

2022

  1. The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (6)
    See also Journal Article The determination of public debt under both aggregate and idiosyncratic uncertainty, Journal of Economic Theory, Elsevier (2022) Downloads View citations (1) (2022)
  2. The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate
    Working Papers, HAL Downloads View citations (1)
    Also in AMSE Working Papers, Aix-Marseille School of Economics, France (2022) Downloads
    Post-Print, HAL (2022) Downloads
    Working papers, Banque de France (2016) Downloads View citations (9)
    Working Papers, Federal Reserve Bank of St. Louis (2016) Downloads View citations (8)

    See also Journal Article The inverted leading indicator property and redistribution effect of the interest rate, European Economic Review, Elsevier (2022) Downloads (2022)

2021

  1. 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 Downloads
  2. Are Unconditional Lump-sum Transfers a Good Idea?
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article Are unconditional lump-sum transfers a good idea?, Economics Letters, Elsevier (2021) Downloads (2021)
  3. How COVID-19 Has Impacted Stock Performance by Industry
    On the Economy, Federal Reserve Bank of St. Louis Downloads
  4. Not All Bursting Market Bubbles Have the Same Recessionary Effect
    On the Economy, Federal Reserve Bank of St. Louis Downloads
  5. Optimal Fiscal Policy under Capital Overaccumulation
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article Optimal fiscal policy under capital overaccumulation, Macroeconomic Dynamics, Cambridge University Press (2023) Downloads (2023)
  6. Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
    Working Papers, Federal Reserve Bank of St. Louis Downloads 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) Downloads View citations (12) (2022)
  7. The Poverty of Macroeconomics --- What the Chemical Revolution Tells Us about Neoclassical Production Function
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  8. Time-Inconsistent Optimal Quantity of Debt
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
    See also Journal Article Time-inconsistent optimal quantity of debt, European Economic Review, Elsevier (2021) Downloads View citations (2) (2021)

2020

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

2019

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

2018

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

2017

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

2016

  1. Interest Rate Dynamics, Variable-Rate Loans, and the Business Cycle
    2016 Meeting Papers, Society for Economic Dynamics Downloads View citations (2)
  2. The Visible Hand: The Role of Government in China’s Long-Awaited Industrial Revolution
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    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) Downloads View citations (1) (2019)

2015

  1. Credit Search and Credit Cycles
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (14)
    See also Journal Article Credit search and credit cycles, Economic Theory, Springer (2016) Downloads View citations (16) (2016)
  2. Institutions Do Not Rule: Reassessing the Driving Forces of Economic Development
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (5)
  3. Interest Rate Dynamics, Variable-Rate Loan Contracts, and the Business Cycle
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  4. Self-Fulfilling Credit Cycles
    CESifo Working Paper Series, CESifo Downloads View citations (9)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2015) Downloads View citations (6)
    Working Paper Series of the Department of Economics, University of Konstanz, Department of Economics, University of Konstanz (2015) Downloads View citations (10)

    See also Journal Article Self-Fulfilling Credit Cycles, The Review of Economic Studies, Review of Economic Studies Ltd (2016) Downloads View citations (32) (2016)
  5. The Making of an Economic Superpower―Unlocking China’s Secret of Rapid Industrialization
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
  6. The great housing boom of China
    FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta Downloads
    Also in Working Papers, Federal Reserve Bank of St. Louis (2014) Downloads View citations (14)

    See also Journal Article The Great Housing Boom of China, American Economic Journal: Macroeconomics, American Economic Association (2017) Downloads View citations (93) (2017)

2014

  1. Money, liquidity and welfare
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
    See also Journal Article Money, liquidity and welfare, European Economic Review, Elsevier (2015) Downloads View citations (24) (2015)
  2. QE: when and how should the Fed exit?
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)
  3. Withstanding great recession like China
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (4)
    See also Journal Article Withstanding the Great Recession Like China, Manchester School, University of Manchester (2019) Downloads View citations (16) (2019)

2013

  1. Evaluating unconventional monetary policies -why aren’t they more effective?
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)
  2. Financial development and long-run volatility trends
    Working Papers, Federal Reserve Bank of St. Louis Downloads 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) Downloads View citations (11) (2018)
  3. Leveraged Borrowing and Boom-Bust Cycles
    Post-Print, HAL View citations (23)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2010) Downloads 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) Downloads View citations (22) (2013)
  4. Liquidity and Welfare
    2013 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) Downloads
  5. Macroeconomic Effects of Government Spending in China
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)
    See also Journal Article Macroeconomic effects of government spending in China, Pacific Economic Review, Wiley Blackwell (2019) Downloads View citations (8) (2019)
  6. Multiplier Effects of Government Spending: A Tale of China
    2013 Meeting Papers, Society for Economic Dynamics Downloads View citations (2)
  7. Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach
    2013 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) Downloads View citations (5)
  8. Uncertainty and Sentiment-Driven Equilibria
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2013) Downloads View citations (9)

    See also Chapter Uncertainty and Sentiment-Driven Equilibria, Studies in Economic Theory, Springer (2017) View citations (2) (2017)

2012

  1. Capital, finance, and trade collapse
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  2. Housing prices and the high Chinese saving rate puzzle
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (38)
    See also Journal Article Housing prices and the high Chinese saving rate puzzle, China Economic Review, Elsevier (2012) Downloads View citations (40) (2012)
  3. Sentiments and Aggregate Demand Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (19)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) Downloads View citations (7)

    See also Journal Article Sentiments and Aggregate Demand Fluctuations, Econometrica, Econometric Society (2015) Downloads View citations (109) (2015)
  4. When Do Inventories Destabilize the Economy? ---A Tractable Approach to (S,s) Policies
    2012 Meeting Papers, Society for Economic Dynamics Downloads

2011

  1. Input and output inventory dynamics
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (34)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) Downloads View citations (2)

    See also Journal Article Input and Output Inventory Dynamics, American Economic Journal: Macroeconomics, American Economic Association (2011) Downloads View citations (35) (2011)
  2. Making sense of China’s astronomical foreign reserves
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  3. Making sense of China’s excessive foreign reserves
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (7)
  4. OPEC´s Oil Exporting Strategy and Macroeconomic (In)Stability
    NIPE Working Papers, NIPE - Universidade do Minho Downloads View citations (2)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2011) Downloads View citations (1)

    See also Journal Article OPEC's oil exporting strategy and macroeconomic (in)stability, Energy Economics, Elsevier (2012) Downloads View citations (9) (2012)
  5. When do inventories destabilize the economy? an analytical approach to (S,s) policies
    Working Papers, Federal Reserve Bank of St. Louis Downloads

2010

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

2009

  1. An analytical approach to buffer-stock saving
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  2. Inventory accelerator in general equilibrium
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (6)
  3. Leveraged financing, over investment, and boom-bust cycles
    Working Papers, HAL Downloads View citations (1)
  4. Liquidity and welfare in a heterogeneous-agent economy
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  5. Saving and growth under borrowing constraints explaining the \"high saving rate\" puzzle
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)
  6. Speculative bubbles and financial crisis
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (16)
    See also Journal Article Speculative Bubbles and Financial Crises, American Economic Journal: Macroeconomics, American Economic Association (2012) Downloads View citations (37) (2012)
  7. When does heterogeneity matter?
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (4)

2008

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

2007

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

2006

  1. Demand shocks and economic fluctuations
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (9)
    See also Journal Article Demand shocks and economic fluctuations, Economics Letters, Elsevier (2006) Downloads View citations (10) (2006)
  2. Granger causality and equilibrium business cycle theory
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    Also in Working Papers, Cornell University, Center for Analytic Economics (2001) Downloads

    See also Journal Article Granger causality and equilibrium business cycle theory, Review, Federal Reserve Bank of St. Louis (2007) Downloads View citations (3) (2007)
  3. Imperfect competition and sunspots
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)
  4. Inflation dynamics: a cross-country investigation
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)
    See also Journal Article Inflation dynamics: A cross-country investigation, Journal of Monetary Economics, Elsevier (2007) Downloads View citations (42) (2007)
  5. Solving linear difference systems with lagged expectations by a method of undetermined coefficients
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (7)
  6. Understanding the large negative impact of oil shocks
    Working Papers, Federal Reserve Bank of St. Louis Downloads 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 (40) (2007)

2005

  1. Another look at sticky prices and output persistence
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (4)
    Also in Working Papers, Cornell University, Center for Analytic Economics (2004) Downloads View citations (1)

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

2004

  1. Endogenous Money or Sticky Price? Comment on Monetary Non-neutrality and Inflation Dynamics
    Working Papers, Cornell University, Center for Analytic Economics Downloads
    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) Downloads View citations (7) (2005)
  2. General Equilibrium Analysis of the Supply of Capital
    Working Papers, Cornell University, Center for Analytic Economics Downloads

2003

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

2002

  1. Fickle Consumers versus Random Technology: Explaining Domestic and International Comovements
    Working Papers, Cornell University, Center for Analytic Economics Downloads View citations (11)
  2. Understanding the Inventory Cycle
    Working Papers, Cornell University, Center for Analytic Economics Downloads View citations (6)
    See also Journal Article Understanding the inventory cycle, Journal of Monetary Economics, Elsevier (2005) Downloads View citations (51) (2005)
  3. What Does It Take to Explain Procyclical Productivity
    Working Papers, Cornell University, Center for Analytic Economics Downloads View citations (1)
    See also Journal Article What Does It Take to Explain Procyclical Productivity?, The B.E. Journal of Macroeconomics, De Gruyter (2004) Downloads View citations (32) (2004)
  4. What's unique about the federal funds rate? evidence from a spectral perspective
    Working Papers, Federal Reserve Bank of St. Louis Downloads 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) Downloads View citations (1) (2007)

2001

  1. Demand-Driven Business Cycles: Explaining Domestic and International Comovements
    Working Papers, Cornell University, Center for Analytic Economics Downloads View citations (5)
  2. Indeterminacy, Aggregate Demand, and the Real Business Cycle
    Working Papers, Cornell University, Center for Analytic Economics Downloads
    See also Journal Article Indeterminacy, aggregate demand, and the real business cycle, Journal of Monetary Economics, Elsevier (2004) Downloads View citations (78) (2004)
  3. Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? Comment
    Working Papers, Cornell University, Center for Analytic Economics Downloads View citations (5)
  4. Uniform Working Hours: A Culprit of Structural Unemployment
    Working Papers, Cornell University, Center for Analytic Economics Downloads
  5. Why Does Consumption Lead the Business Cycle?
    Working Papers, Cornell University, Center for Analytic Economics Downloads

2000

  1. Understanding Self-Fulfilling Rational Expectations Equilibria in Real Business Cycle Models
    Working Papers, Cornell University, Center for Analytic Economics Downloads
    See also Journal Article Understanding self-fulfilling rational expectations equilibria in real business cycle models, Journal of Economic Dynamics and Control, Elsevier (2001) Downloads View citations (29) (2001)

1999

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

1996

  1. 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) Downloads View citations (8)

Journal Articles

2023

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

2022

  1. Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
    Review of Economic Dynamics, 2022, 46, 124-160 Downloads View citations (12)
    See also Software Item Code and data files for "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences", Computer Codes (2021) Downloads (2021)
    Working Paper Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences, Working Papers (2021) Downloads View citations (6) (2021)
  2. The determination of public debt under both aggregate and idiosyncratic uncertainty
    Journal of Economic Theory, 2022, 203, (C) Downloads View citations (1)
    See also Working Paper The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty, Working Papers (2022) Downloads View citations (6) (2022)
  3. The inverted leading indicator property and redistribution effect of the interest rate
    European Economic Review, 2022, 148, (C) Downloads
    See also Working Paper The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate, Working Papers (2022) Downloads View citations (1) (2022)

2021

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

2020

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

2019

  1. Changing Trade Relations May Affect U.S. Auto Exports in Long Run
    The Regional Economist, 2019, 27, (1) Downloads
  2. Historical U.S. Trade Deficits
    Economic Synopses, 2019, (13) Downloads
  3. International credit markets and global business cycles
    International Journal of Economic Theory, 2019, 15, (1), 53-75 Downloads View citations (3)
    See also Working Paper International credit markets and global business cycles, Post-Print (2019) Downloads View citations (3) (2019)
  4. Long and Plosser meet Bewley and Lucas
    Journal of Monetary Economics, 2019, 102, (C), 70-92 Downloads View citations (6)
    See also Working Paper Long and Plosser Meet Bewley and Lucas, Working Papers (2018) Downloads View citations (4) (2018)
  5. Macroeconomic effects of government spending in China
    Pacific Economic Review, 2019, 24, (3), 416-446 Downloads View citations (8)
    See also Working Paper Macroeconomic Effects of Government Spending in China, Working Papers (2013) Downloads View citations (3) (2013)
  6. 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 Downloads View citations (1)
    Also in Review, 2016, 98, (3), 189-226 (2016) Downloads

    See also Working Paper The Visible Hand: The Role of Government in China’s Long-Awaited Industrial Revolution, Working Papers (2016) Downloads (2016)
  7. Withstanding the Great Recession Like China
    Manchester School, 2019, 87, (2), 138-182 Downloads View citations (16)
    See also Working Paper Withstanding great recession like China, Working Papers (2014) Downloads View citations (4) (2014)

2018

  1. Financial Development and Long-Run Volatility Trends
    Review of Economic Dynamics, 2018, 28, 221-251 Downloads View citations (11)
    See also Working Paper Financial development and long-run volatility trends, Working Papers (2013) Downloads View citations (5) (2013)
    Software Item Code and data files for "Financial Development and Long-Run Volatility Trends", Computer Codes (2017) Downloads (2017)
  2. Housing Costs and Regional Income Inequality in China and the U.S
    The Regional Economist, 2018, 26, (2) Downloads
  3. Income and Living Standards within the Eighth District
    The Regional Economist, 2018, 26, (1) Downloads
  4. Understanding the Roots of the U.S. Trade Deficit
    The Regional Economist, 2018, 26, (3) Downloads
  5. Understanding the Trade Imbalance and Employment Decline in U.S. Manufacturing
    Economic Synopses, 2018, (15), 1-3 Downloads

2017

  1. Does More Financial Development Lead to More or Less Volatility?
    The Regional Economist, 2017, 25, (2) Downloads View citations (1)
  2. Looking for the Positives In Negative Interest Rates
    The Regional Economist, 2017, 25, (4) Downloads
  3. Secured and Unsecured Debt Over the Business Cycle
    Economic Synopses, 2017, (1), 1-2 Downloads
  4. The Great Housing Boom of China
    American Economic Journal: Macroeconomics, 2017, 9, (2), 73-114 Downloads View citations (93)
    See also Working Paper The great housing boom of China, FRB Atlanta CQER Working Paper (2015) Downloads (2015)
  5. Two‐way Capital Flows and Global Imbalances
    Economic Journal, 2017, 127, (599), 229-269 Downloads View citations (7)

2016

  1. China's Rapid Rise: From Backward Agrarian Society to Industrial Powerhouse in Just 35 Years
    The Regional Economist, 2016, (April) Downloads
  2. Credit search and credit cycles
    Economic Theory, 2016, 61, (2), 215-239 Downloads View citations (16)
    See also Working Paper Credit Search and Credit Cycles, Working Papers (2015) Downloads View citations (14) (2015)
  3. Relative Income Traps
    Review, 2016, 98, (1), 41-60 Downloads View citations (4)
  4. Self-Fulfilling Credit Cycles
    The Review of Economic Studies, 2016, 83, (4), 1364-1405 Downloads View citations (32)
    See also Working Paper Self-Fulfilling Credit Cycles, CESifo Working Paper Series (2015) Downloads View citations (9) (2015)

2015

  1. Money, liquidity and welfare
    European Economic Review, 2015, 76, (C), 1-24 Downloads View citations (24)
    See also Working Paper Money, liquidity and welfare, Working Papers (2014) Downloads View citations (1) (2014)
  2. Recovery from the Great Recession Has Varied around the World
    The Regional Economist, 2015, (Oct) Downloads View citations (5)
  3. Sentiments and Aggregate Demand Fluctuations
    Econometrica, 2015, 83, 549-585 Downloads View citations (109)
    See also Working Paper Sentiments and Aggregate Demand Fluctuations, NBER Working Papers (2012) Downloads View citations (19) (2012)
  4. Trapped: Few Developing Countries Can Climb the Economic Ladder or Stay There
    The Regional Economist, 2015, (Oct) Downloads View citations (3)

2014

  1. Food Prices and Inflation in China and the U.S. Are Following Similar Paths
    The Regional Economist, 2014 Downloads
  2. The liquidity trap: an alternative explanation for today's low inflation
    The Regional Economist, 2014 Downloads View citations (1)
  3. 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 Downloads View citations (7)
  4. When and how to exit quantitative easing?
    Review, 2014, 96, (3), 243-265 Downloads View citations (6)

2013

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

2012

  1. Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment
    Review of Economic Dynamics, 2012, 15, (2), 207-225 Downloads View citations (25)
    See also Software Item Code files for "Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment Costs", Computer Codes (2011) Downloads (2011)
  2. Housing prices and the high Chinese saving rate puzzle
    China Economic Review, 2012, 23, (2), 265-283 Downloads View citations (40)
    See also Working Paper Housing prices and the high Chinese saving rate puzzle, Working Papers (2012) Downloads View citations (38) (2012)
  3. OPEC's oil exporting strategy and macroeconomic (in)stability
    Energy Economics, 2012, 34, (1), 132-136 Downloads View citations (9)
    See also Working Paper OPEC´s Oil Exporting Strategy and Macroeconomic (In)Stability, NIPE Working Papers (2011) Downloads View citations (2) (2011)
  4. Okun’s law: a meaningful guide for monetary policy?
    Economic Synopses, 2012 Downloads View citations (5)
  5. Reducing the U.S. deficit by recycling capital inflows
    Economic Synopses, 2012 Downloads
  6. Speculative Bubbles and Financial Crises
    American Economic Journal: Macroeconomics, 2012, 4, (3), 184-221 Downloads View citations (37)
    See also Working Paper Speculative bubbles and financial crisis, Working Papers (2009) Downloads View citations (16) (2009)

2011

  1. Can rising housing prices explain China’s high household saving rate?
    Review, 2011, 93, (Mar), 67-88 Downloads View citations (3)
    See also Working Paper Can rising housing prices explain China’s high household saving rate?, Working Papers (2010) Downloads View citations (1) (2010)
  2. Dynamics of externalities: a second-order perspective
    Review, 2011, 93, (May), 187-206 Downloads
    See also Working Paper Dynamics of externalities: a second-order perspective, Working Papers (2008) Downloads View citations (2) (2008)
  3. Input and Output Inventory Dynamics
    American Economic Journal: Macroeconomics, 2011, 3, (4), 181-212 Downloads View citations (35)
    See also Working Paper Input and output inventory dynamics, Working Papers (2011) Downloads View citations (34) (2011)
  4. Monetary policy's effects on unemployment
    Economic Synopses, 2011 Downloads
  5. Oil price shocks and inflation risk
    Economic Synopses, 2011 Downloads View citations (5)
  6. RMB appreciation and U.S. inflation risk
    Economic Synopses, 2011 Downloads
  7. Understanding the Effects of Technology Shocks
    Review of Economic Dynamics, 2011, 14, (4), 705-724 Downloads View citations (12)
    See also Software Item Code and data files for "Understanding the Effects of Technology Shocks", Computer Codes (2010) Downloads (2010)
  8. Volatility, growth, and welfare
    Journal of Economic Dynamics and Control, 2011, 35, (10), 1696-1709 Downloads View citations (16)

2010

  1. Economic growth and the global savings glut
    Economic Synopses, 2010 Downloads
  2. Money supply, credit expansion, and housing price inflation
    Economic Synopses, 2010 Downloads
  3. Why aren't the Chinese buying more American goods?
    Economic Synopses, 2010 Downloads
  4. Why do people dislike inflation?
    Economic Synopses, 2010 Downloads

2009

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

2008

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

2007

  1. By force of demand: Explaining international comovements
    Journal of Economic Dynamics and Control, 2007, 31, (1), 1-23 Downloads View citations (21)
  2. Granger causality and equilibrium business cycle theory
    Review, 2007, 89, (May), 195-206 Downloads View citations (3)
    See also Working Paper Granger causality and equilibrium business cycle theory, Working Papers (2006) Downloads (2006)
  3. Inflation dynamics: A cross-country investigation
    Journal of Monetary Economics, 2007, 54, (7), 2004-2031 Downloads View citations (42)
    See also Working Paper Inflation dynamics: a cross-country investigation, Working Papers (2006) Downloads View citations (3) (2006)
  4. Oil shocks and price stability
    Monetary Trends, 2007, (Dec) Downloads
  5. Production and Inventory Behavior of Capital
    Annals of Economics and Finance, 2007, 8, (1), 95-112 Downloads
    See also Working Paper Production and inventory behavior of capital, Working Papers (2005) Downloads (2005)
  6. The U.S. consumption boom and trade deficit
    National Economic Trends, 2007, (Oct) Downloads
  7. Understanding the Large Negative Impact of Oil Shocks
    Journal of Money, Credit and Banking, 2007, 39, (4), 925-944 View citations (40)
    Also in Journal of Money, Credit and Banking, 2007, 39, (4), 925-944 (2007) Downloads View citations (3)

    See also Working Paper Understanding the large negative impact of oil shocks, Working Papers (2006) Downloads View citations (6) (2006)
  8. Uniform Working Hours and Structural Unemployment
    Annals of Economics and Finance, 2007, 8, (1), 113-136 Downloads View citations (2)
    See also Working Paper Uniform working hours and structural unemployment, Working Papers (2005) Downloads (2005)
  9. What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective*
    Oxford Bulletin of Economics and Statistics, 2007, 69, (2), 293-319 Downloads View citations (1)
    See also Working Paper What's unique about the federal funds rate? evidence from a spectral perspective, Working Papers (2002) Downloads View citations (2) (2002)

2006

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

2005

  1. Endogenous money or sticky prices?--comment on monetary non-neutrality and inflation dynamics
    Journal of Economic Dynamics and Control, 2005, 29, (8), 1361-1383 Downloads View citations (7)
    See also Working Paper Endogenous Money or Sticky Price? Comment on Monetary Non-neutrality and Inflation Dynamics, Working Papers (2004) Downloads (2004)
  2. Understanding the inventory cycle
    Journal of Monetary Economics, 2005, 52, (8), 1533-1555 Downloads View citations (51)
    See also Working Paper Understanding the Inventory Cycle, Working Papers (2002) Downloads View citations (6) (2002)

2004

  1. Indeterminacy, aggregate demand, and the real business cycle
    Journal of Monetary Economics, 2004, 51, (3), 503-530 Downloads View citations (78)
    See also Working Paper Indeterminacy, Aggregate Demand, and the Real Business Cycle, Working Papers (2001) Downloads (2001)
  2. What Does It Take to Explain Procyclical Productivity?
    The B.E. Journal of Macroeconomics, 2004, 4, (1), 1-40 Downloads View citations (32)
    See also Working Paper What Does It Take to Explain Procyclical Productivity, Working Papers (2002) Downloads View citations (1) (2002)

2002

  1. The business cycle effects of Christmas
    Journal of Monetary Economics, 2002, 49, (6), 1289-1314 Downloads View citations (18)

2001

  1. A generalized method of impulse identification
    Economics Letters, 2001, 73, (3), 367-374 Downloads View citations (3)
  2. Residential Investment and Economic Growth
    Annals of Economics and Finance, 2001, 2, (2), 437-444 Downloads View citations (7)
  3. Understanding self-fulfilling rational expectations equilibria in real business cycle models
    Journal of Economic Dynamics and Control, 2001, 25, (8), 1221-1240 Downloads View citations (29)
    See also Working Paper Understanding Self-Fulfilling Rational Expectations Equilibria in Real Business Cycle Models, Working Papers (2000) Downloads (2000)

1999

  1. A simple nonlinear filter for economic time series analysis
    Economics Letters, 1999, 64, (2), 151-160 Downloads View citations (7)

1998

  1. Can a real business cycle model pass the Watson test?
    Journal of Monetary Economics, 1998, 42, (1), 185-203 Downloads View citations (18)
  2. Capacity Utilization under Increasing Returns to Scale
    Journal of Economic Theory, 1998, 81, (1), 7-36 Downloads View citations (233)
  3. Indeterminacy, dynamic adjustment costs, and cycles
    Economics Letters, 1998, 59, (2), 213-216 Downloads View citations (14)
  4. Investment cycles
    Journal of Economic Dynamics and Control, 1998, 22, (7), 1139-1165 Downloads 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) Downloads 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 Downloads
    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) Downloads View citations (12) (2022)

2017

  1. Code and data files for "Financial Development and Long-Run Volatility Trends"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article Financial Development and Long-Run Volatility Trends, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2018) Downloads View citations (11) (2018)

2011

  1. Code files for "Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment Costs"
    Computer Codes, Review of Economic Dynamics Downloads
    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) Downloads View citations (25) (2012)

2010

  1. Code and data files for "Understanding the Effects of Technology Shocks"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article Understanding the Effects of Technology Shocks, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) Downloads View citations (12) (2011)

Editor

  1. China Economic Review
    Elsevier
 
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