Details about Eric R. Young
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Last updated 2023-06-07. Update your information in the RePEc Author Service.
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Working Papers
2023
- Optimal Fiscal Reform with Many Taxes
Working Papers, Federal Reserve Bank of Cleveland
2022
- Infrequent Random Portfolio Decisions in an Open Economy Model
Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)
- The Dynamics of the Racial Wealth Gap
Working Papers, Federal Reserve Bank of Cleveland View citations (7)
Also in Working Papers, Human Capital and Economic Opportunity Working Group (2022)
- The Effect of Minimum Wages on Consumer Bankruptcy
Working Papers, Federal Reserve Bank of Cleveland
2021
- Production and Inventory Dynamics under Ambiguity Aversion
Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)
- Saving Constraints, Inequality, and the Credit Market Response to Fiscal Stimulus
Working Papers Central Bank of Chile, Central Bank of Chile 
See also Journal Article in European Economic Review (2023)
2020
- A Model of Expenditure Shocks
Working Papers, Federal Reserve Bank of Cleveland View citations (5)
- Government Debt Limits and Stabilization Policy
Working Papers, Federal Reserve Bank of Cleveland
- Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus
Working Papers, Federal Reserve Bank of Cleveland View citations (7)
- The Stock Market Response to a "Regulatory Sine Curve"
International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.)
2019
- Flexibility and Frictions in Multisector Models
Discussion Papers Series, University of Queensland, School of Economics View citations (7)
Also in CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2018) View citations (5)
See also Journal Article in American Economic Journal: Macroeconomics (2022)
- Macro-Financial Volatility under Dispersed Information
Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics 
Also in Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics (2019) 
See also Journal Article in Theoretical Economics (2021)
- Multivariate Rational Inattention
Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (7)
See also Journal Article in Econometrica (2022)
- Optimal Policy for Macro-Financial Stability
Staff Reports, Federal Reserve Bank of New York View citations (2)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (2) 2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (2) Research Department Publications, Inter-American Development Bank, Research Department (2012) View citations (24) LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2012) View citations (24) CEP Discussion Papers, Centre for Economic Performance, LSE (2012) View citations (33) Working Papers, Federal Reserve Bank of St. Louis (2012) View citations (27) IDB Publications (Working Papers), Inter-American Development Bank (2012) View citations (24) CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (24)
- Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus: Theory and Cross-Country Evidence
Discussion Papers Series, University of Queensland, School of Economics View citations (3)
- Saving-Constrained Households
2019 Meeting Papers, Society for Economic Dynamics
- The Politics of Flat Taxes
Working Papers, Federal Reserve Bank of Cleveland View citations (2)
Also in Working Papers, Federal Reserve Bank of Cleveland (2017) View citations (2)
See also Journal Article in Review of Economic Dynamics (2021)
- What Explains Neighborhood Sorting by Income and Race?
Working Papers, Federal Reserve Bank of Cleveland View citations (6)
2018
- Can Wealth Explain Neighborhood Sorting by Race and Income?
Working Papers (Old Series), Federal Reserve Bank of Cleveland
- Debt Burdens and the Interest Rate Response to Fiscal Stimulus: Theory and Cross-Country Evidence
2018 Meeting Papers, Society for Economic Dynamics View citations (1)
- Growth and Welfare Gains from Financial Integration Under Model Uncertainty
Research Working Paper, Federal Reserve Bank of Kansas City
2017
- Neoclassical Inequality
Working Papers, Federal Reserve Bank of Cleveland View citations (1)
See also Journal Article in Journal of Macroeconomics (2018)
- Rational Inattention and the Dynamics of Consumption and Wealth in General Equilibrium
MPRA Paper, University Library of Munich, Germany View citations (21)
See also Journal Article in Journal of Economic Theory (2017)
- Robustness, Low Risk-Free Rates, and Consumption Volatility in General Equilibrium
MPRA Paper, University Library of Munich, Germany
2016
- A New Dilemma: Capital Controls and Monetary Policy in Sudden-Stop Economies
Working Papers, Hong Kong Institute for Monetary Research 
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (18)
- Bankruptcy and Delinquency in a Model of Unsecured Debt
Working Paper, Federal Reserve Bank of Richmond View citations (16)
Also in Working Papers, Federal Reserve Bank of St. Louis (2012) View citations (19)
See also Journal Article in International Economic Review (2018)
- Mobility
Working Papers (Old Series), Federal Reserve Bank of Cleveland
- Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective
NBER Working Papers, National Bureau of Economic Research, Inc View citations (96)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (22) LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2015) View citations (3) LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2016) View citations (95) Discussion Papers, Centre for Macroeconomics (CFM) (2015) View citations (8)
See also Journal Article in Journal of Monetary Economics (2016)
2015
- Majority Voting: A Quantitative Investigation
Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (1)
- Robust Permanent Income in General Equilibrium
MPRA Paper, University Library of Munich, Germany View citations (1)
Also in Research Working Paper, Federal Reserve Bank of Kansas City (2015) View citations (1)
- What We Don't Know Doesn't Hurt Us: Rational Inattention and the Permanent Income Hypothesis in General Equilibrium
2015 Meeting Papers, Society for Economic Dynamics View citations (1)
Also in Research Working Paper, Federal Reserve Bank of Kansas City (2014)  MPRA Paper, University Library of Munich, Germany (2014)
2014
- Induced Uncertainty, Market Price of Risk, and the Dynamics of Consumption and Wealth
MPRA Paper, University Library of Munich, Germany View citations (1)
See also Journal Article in Journal of Economic Theory (2016)
- Labor market upheaval, default regulations, and consumer debt
Working Papers, Federal Reserve Bank of St. Louis View citations (15)
See also Journal Article in Review of Economic Dynamics (2015)
- Model Uncertainty and Intertemporal Tax Smoothing
MPRA Paper, University Library of Munich, Germany View citations (7)
Also in Research Working Paper, Federal Reserve Bank of Kansas City (2012) View citations (2)
See also Journal Article in Journal of Economic Dynamics and Control (2014)
- Portfolio Choice with Information-Processing Limits
MPRA Paper, University Library of Munich, Germany View citations (5)
See also Journal Article in Annals of Economics and Finance (2019)
- Regulatory Intensity, Crash Risk, and the Business Cycle
2014 Meeting Papers, Society for Economic Dynamics
- Slow Information Diffusion and the Inertial Behavior of Durable Consumption
MPRA Paper, University Library of Munich, Germany View citations (4)
See also Journal Article in Journal of the European Economic Association (2015)
- The Piketty Transition
Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (1)
2013
- A Quantitative Theory of Credit Scoring
2013 Meeting Papers, Society for Economic Dynamics View citations (1)
- Capital Controls or Real Exchange Rate Policy? A Pecuniary Externality Perspective
Research Department Publications, Inter-American Development Bank, Research Department View citations (20)
Also in 2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (19) IDB Publications (Working Papers), Inter-American Development Bank (2013) View citations (21)
- Consumption, Market Price of Risk, and Wealth Accumulation under Induced Uncertainty
MPRA Paper, University Library of Munich, Germany
- Long-run Consumption Risk and Asset Allocation under Recursive Utility and Rational Inattention
MPRA Paper, University Library of Munich, Germany View citations (1)
See also Journal Article in Journal of Money, Credit and Banking (2016)
- Rational Inattention in Macroeconomics: A Survey
MPRA Paper, University Library of Munich, Germany
- Robust Control, Informational Frictions, and International Consumption Correlations
Working Papers, Hong Kong Institute for Monetary Research View citations (1)
Also in 2011 Meeting Papers, Society for Economic Dynamics (2011) View citations (1) Research Working Paper, Federal Reserve Bank of Kansas City (2010) View citations (3)
See also Journal Article in European Economic Review (2014)
2012
- Capital Controls or Exchange Rate Policy? A Pecuniary Externality Perspective
Working Papers, Department of Economics, University of Missouri View citations (22)
Also in Working Papers, Federal Reserve Bank of St. Louis (2012) View citations (3) LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2012) View citations (11) CEP Discussion Papers, Centre for Economic Performance, LSE (2012) View citations (16)
- Model uncertainty, state uncertainty, and state-space models
Research Working Paper, Federal Reserve Bank of Kansas City
- Monetary and Macro-Prudential Policies: An Integrated Analysis
Working Papers, Department of Economics, University of Missouri View citations (22)
See also Journal Article in Journal of Money and Economy (2012)
- Sticky information diffusion and the inertial behavior of durable consumption
Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)
2011
- A quantitative theory of information and unsecured credit
Working Paper, Federal Reserve Bank of Richmond View citations (23)
See also Journal Article in American Economic Journal: Macroeconomics (2012)
- Financial Crises and Macro-Prudential Policies
IDB Publications (Working Papers), Inter-American Development Bank View citations (7)
Also in Research Department Publications, Inter-American Development Bank, Research Department (2011) View citations (13) CEP Discussion Papers, Centre for Economic Performance, LSE (2010) View citations (11) CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (20)
See also Journal Article in Journal of International Economics (2013)
- Loan guarantees for consumer credit markets
Working Paper, Federal Reserve Bank of Richmond 
See also Journal Article in Economic Quarterly (2014)
- Revisiting Overborrowing and Its Policy Implications
IDB Publications (Working Papers), Inter-American Development Bank View citations (28)
Also in CEP Discussion Papers, Centre for Economic Performance, LSE (2010) View citations (23) Working Papers Central Bank of Chile, Central Bank of Chile (2010) View citations (23) CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (39) Research Department Publications, Inter-American Development Bank, Research Department (2010) View citations (23)
See also Chapter (2011)
- Why Aren't More Families Buying Life Insurance?
Working Papers, Center for Retirement Research at Boston College, Center for Retirement Research View citations (1)
2010
- Robustness, information-processing constraints, and the current account in small open economies
Research Working Paper, Federal Reserve Bank of Kansas City View citations (7)
See also Journal Article in Journal of International Economics (2012)
2009
- A note on sunspots with heterogeneous agents
Working Papers (Old Series), Federal Reserve Bank of Cleveland
- Are harsh penalties for default really better?
Working Paper, Federal Reserve Bank of Richmond View citations (10)
- The long run effects of changes in tax progressivity
Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (4)
See also Journal Article in Journal of Economic Dynamics and Control (2011)
2008
- Information Heterogeneity in the Macroeconomy
2008 Meeting Papers, Society for Economic Dynamics View citations (4)
- Risk-sensitive Consumption and Savings under Rational Inattention
2008 Meeting Papers, Society for Economic Dynamics View citations (1)
See also Journal Article in American Economic Journal: Macroeconomics (2010)
2007
- Optimal Monetary Policy in a Medium Scale Model for Emerging Markets
2007 Meeting Papers, Society for Economic Dynamics
2005
- Approximate Aggregation
Computing in Economics and Finance 2005, Society for Computational Economics View citations (19)
See also Software Item (2005)
2004
- The Acquisition of Skills over the Life-Cycle
Working Papers, Middle Tennessee State University, Department of Economics and Finance View citations (2)
- The Wealth Distribution and the Demand for Status
Macroeconomics, University Library of Munich, Germany View citations (9)
See also Journal Article in Macroeconomic Dynamics (2009)
1998
- Revenue-maximizing monetary policy
Working Papers, Federal Reserve Bank of Dallas 
See also Journal Article in Review of Economic Dynamics (1998)
Journal Articles
2023
- Saving constraints, inequality, and the credit market response to fiscal stimulus
European Economic Review, 2023, 151, (C) 
See also Working Paper (2021)
2022
- Flexibility and Frictions in Multisector Models
American Economic Journal: Macroeconomics, 2022, 14, (3), 450-80 View citations (5)
See also Working Paper (2019)
- Multivariate Rational Inattention
Econometrica, 2022, 90, (2), 907-945 View citations (3)
See also Working Paper (2019)
2021
- Macro-financial volatility under dispersed information
Theoretical Economics, 2021, 16, (1) View citations (1)
See also Working Paper (2019)
- The Politics of Flat Taxes
Review of Economic Dynamics, 2021, 39, 174-201 
See also Working Paper (2019) Software Item (2020)
- The Racial Wealth Gap and Access to Opportunity Neighborhoods
Economic Commentary, 2021, 2021, (18), 5
2020
- Ambiguity, Low Risk-Free Rates and Consumption Inequality
The Economic Journal, 2020, 130, (632), 2649-2679 View citations (3)
2019
- Capital controls and monetary policy in sudden-stop economies
Journal of Monetary Economics, 2019, 103, (C), 52-74 View citations (21)
- Comparing dynamic multisector models
Economics Letters, 2019, 181, (C), 28-32 View citations (1)
- Portfolio Choice with Information-Processing Limits
Annals of Economics and Finance, 2019, 20, (1), 137-162 View citations (2)
See also Working Paper (2014)
2018
- BANKRUPTCY AND DELINQUENCY IN A MODEL OF UNSECURED DEBT
International Economic Review, 2018, 59, (2), 593-623 View citations (11)
See also Working Paper (2016)
- Neoclassical inequality
Journal of Macroeconomics, 2018, 57, (C), 83-109 View citations (4)
See also Working Paper (2017)
2017
- Rational inattention and the dynamics of consumption and wealth in general equilibrium
Journal of Economic Theory, 2017, 172, (C), 55-87 View citations (20)
See also Working Paper (2017)
2016
- Induced uncertainty, market price of risk, and the dynamics of consumption and wealth
Journal of Economic Theory, 2016, 163, (C), 1-41 View citations (11)
See also Working Paper (2014)
- Long‐Run Consumption Risk and Asset Allocation under Recursive Utility and Rational Inattention
Journal of Money, Credit and Banking, 2016, 48, (2-3), 325-362 View citations (10)
See also Working Paper (2013)
- Optimal capital controls and real exchange rate policies: A pecuniary externality perspective
Journal of Monetary Economics, 2016, 84, (C), 147-165 View citations (95)
See also Working Paper (2016)
2015
- Labor Market Upheaval, Default Regulation, and Consumer Debt
Review of Economic Dynamics, 2015, 18, (1), 32-52 View citations (15)
See also Working Paper (2014) Software Item (2014)
- SLOW INFORMATION DIFFUSION AND THE INERTIAL BEHAVIOR OF DURABLE CONSUMPTION
Journal of the European Economic Association, 2015, 13, (5), 805-840 View citations (13)
See also Working Paper (2014)
- Zero Growth and Long-Run Inequality
Economic Commentary, 2015, (September)
2014
- Loan Guarantees for Consumer Credit Markets
Economic Quarterly, 2014, (4Q), 297-352 
See also Working Paper (2011)
- Model uncertainty and intertemporal tax smoothing
Journal of Economic Dynamics and Control, 2014, 45, (C), 289-314 View citations (7)
See also Working Paper (2014)
- Robust control, informational frictions, and international consumption correlations
European Economic Review, 2014, 67, (C), 1-27 View citations (4)
See also Working Paper (2013)
- SIGNAL EXTRACTION AND RATIONAL INATTENTION
Economic Inquiry, 2014, 52, (2), 811-829 View citations (19)
2013
- Financial crises and macro-prudential policies
Journal of International Economics, 2013, 89, (2), 453-470 View citations (184)
See also Working Paper (2011)
2012
- A Quantitative Theory of Information and Unsecured Credit
American Economic Journal: Macroeconomics, 2012, 4, (3), 153-83 View citations (63)
See also Working Paper (2011)
- Debt default and the insurance of labor income risks
Economic Quarterly, 2012, 98, (4Q), 255-307 View citations (3)
- Monetary and Macro-prudential Policies: An Integrated Analysis
Journal of Money and Economy, 2012, 7, (1), 1-40 View citations (11)
See also Working Paper (2012)
- Robust policymaking in the face of sudden stops
Journal of Monetary Economics, 2012, 59, (5), 512-527 View citations (12)
- Robustness, information–processing constraints, and the current account in small open economies
Journal of International Economics, 2012, 88, (1), 104-120 View citations (28)
See also Working Paper (2010)
2011
- The long run effects of changes in tax progressivity
Journal of Economic Dynamics and Control, 2011, 35, (9), 1451-1473 View citations (17)
See also Working Paper (2009)
2010
- Asset pricing under information-processing constraints
Economics Letters, 2010, 107, (1), 26-29 View citations (6)
- Risk-Sensitive Consumption and Savings under Rational Inattention
American Economic Journal: Macroeconomics, 2010, 2, (4), 281-325 View citations (37)
See also Working Paper (2008)
- Solving the incomplete markets model with aggregate uncertainty using the Krusell-Smith algorithm and non-stochastic simulations
Journal of Economic Dynamics and Control, 2010, 34, (1), 36-41 View citations (109)
2009
- Rational Inattention and Aggregate Fluctuations
The B.E. Journal of Macroeconomics, 2009, 9, (1), 1-43 View citations (25)
- THE WEALTH DISTRIBUTION AND THE DEMAND FOR STATUS
Macroeconomic Dynamics, 2009, 13, (S1), 1-30 View citations (35)
See also Working Paper (2004)
- The Stationary Distribution of Wealth under Progressive Taxation
Review of Economic Dynamics, 2009, 12, (3), 469-478 View citations (12)
See also Software Item (2008)
- Unsecured credit markets are not insurance markets
Journal of Monetary Economics, 2009, 56, (1), 83-103 View citations (34)
2007
- Generalized quasi-geometric discounting
Economics Letters, 2007, 96, (3), 343-350 View citations (6)
2004
- Unemployment insurance and capital accumulation
Journal of Monetary Economics, 2004, 51, (8), 1683-1710 View citations (33)
See also Software Item (2003)
1998
- Money Creation, Reserve Requirements, and Seigniorage
Review of Economic Dynamics, 1998, 1, (3), 677-698 View citations (18)
See also Working Paper (1998)
Chapters
2011
- Revisiting Overborrowing and its Policy Implications
Chapter 06 in Monetary Policy under Financial Turbulence, 2011, vol. 16, pp 145-184 View citations (25)
See also Working Paper (2011)
Software Items
2020
- Code and data files for "The Politics of Flat Taxes"
Computer Codes, Review of Economic Dynamics 
See also Journal Article in Review of Economic Dynamics (2021)
2014
- Code and data files for "Labor Market Upheaval, Default Regulation, and Consumer Debt"
Computer Codes, Review of Economic Dynamics 
See also Journal Article in Review of Economic Dynamics (2015)
2008
- Code and data files for "The Stationary Distribution of Wealth under Progressive Taxation"
Computer Codes, Review of Economic Dynamics 
See also Journal Article in Review of Economic Dynamics (2009)
2005
- Code for "Approximate Aggregation"
QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles 
See also Working Paper (2005)
2003
- Code for "Unemployment Insurance and Capital Accumulation"
QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles 
See also Journal Article in Journal of Monetary Economics (2004)
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