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YiLi Chien

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Camera, Gabriele & Chien, YiLi, 2013. "Two monetary models with alternating markets," SAFE Working Paper Series 33, Leibniz Institute for Financial Research SAFE.

    Mentioned in:

    1. Two monetary models with alternating markets
      by Christian Zimmermann in NEP-DGE blog on 2014-01-24 03:44:17
  2. YiLi Chien & Yi Wen, 2019. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Working Papers 2019-007, Federal Reserve Bank of St. Louis, revised 26 Jul 2021.

    Mentioned in:

    1. Don’t Tax Capital — Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
      by Christian Zimmermann in NEP-DGE blog on 2019-03-21 16:04:46
  3. YiLi Chien & Yi Wen, 2017. "Optimal Ramsey Capital Income Taxation —A Reappraisal," Working Papers 2017-24, Federal Reserve Bank of St. Louis.

    Mentioned in:

    1. Optimal Ramsey Capital Income Taxation —A Reappraisal
      by Christian Zimmermann in NEP-DGE blog on 2017-09-21 20:29:43
  4. Gabriele Camera & YiLi Chien, 2012. "Understanding the distributional impact of long-run inflation," Working Papers 2012-058, Federal Reserve Bank of St. Louis.

    Mentioned in:

    1. Understanding the distributional impact of long-run inflation
      by Christian Zimmermann in NEP-DGE blog on 2012-12-19 03:32:17

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. YiLi Chien & Harold Cole & Hanno Lustig, 2012. "Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Rebalancing?," American Economic Review, American Economic Association, vol. 102(6), pages 2859-2896, October.

    Mentioned in:

    1. Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Rebalancing? (AER 2012) in ReplicationWiki ()

Working papers

  1. YiLi Chien & Harold L. Cole & Hanno Lustig, 2023. "What about Japan?," Working Papers 2023-028, Federal Reserve Bank of St. Louis, revised 11 Mar 2025.

    Cited by:

    1. Rochet, Jean-Charles & Collard, Fabrice & Habib, Michel & Panizza, Ugo, 2024. "Sovereign Debt Sustainability with Involuntary Default," TSE Working Papers 24-1599, Toulouse School of Economics (TSE).

  2. YiLi Chien & Yi Wen, 2022. "The Ramsey Steady-State Conundrum in Heterogeneous-Agent Economies," Working Papers 2022-009, Federal Reserve Bank of St. Louis, revised 29 May 2024.

    Cited by:

    1. Ferrari Minesso, Massimo & Pagliari, Maria Sole, 2025. "DSGE Nash: Solving Nash games in macro models," Journal of Economic Dynamics and Control, Elsevier, vol. 178(C).
    2. YiLi Chien & Yi Wen, 2023. "Optimal Dynamic Tax-Transfer Policies in Heterogeneous-Agents Economies," Working Papers 2023-009, Federal Reserve Bank of St. Louis, revised 12 Mar 2026.

  3. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.

    Cited by:

    1. YiLi Chien & Yi Wen, 2022. "The Ramsey Steady-State Conundrum in Heterogeneous-Agent Economies," Working Papers 2022-009, Federal Reserve Bank of St. Louis, revised 29 May 2024.
    2. Chien, YiLi & Wen, Yi, 2022. "The determination of public debt under both aggregate and idiosyncratic uncertainty," Journal of Economic Theory, Elsevier, vol. 203(C).

  4. YiLi Chien & In-Koo Cho & B. Ravikumar, 2020. "Convergence to Rational Expectations in Learning Models: A Note of Caution," Working Papers 2020-027, Federal Reserve Bank of St. Louis, revised 19 Sep 2020.

    Cited by:

    1. Basse, Tobias & Wegener, Christoph, 2022. "Inflation expectations: Australian consumer survey data versus the bond market," Journal of Economic Behavior & Organization, Elsevier, vol. 203(C), pages 416-430.
    2. YiLi Chien & In-Koo Cho & B. Ravikumar, 2021. "Stability and Equilibrium Selection in Learning Models: A Note of Caution," Review, Federal Reserve Bank of St. Louis, vol. 103(4), pages 477-488, October.

  5. Yunmin Chen & YiLi Chien & Yi Wen & C.C. Yang, 2020. "Should Capital Be Taxed?," Working Papers 2020-033, Federal Reserve Bank of St. Louis, revised 10 Dec 2020.

    Cited by:

    1. François Le Grand & Xavier Ragot, 2023. "Should we increase or decrease public debt? Optimal fiscal policy with heterogeneous agents," Sciences Po Economics Publications (main) halshs-03922359, HAL.
    2. YiLi Chien & Yi Wen, 2022. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 46, pages 124-160, October.
    3. Krueger, Dirk & Ludwig, Alexander & Villalvazo, Sergio, 2021. "Optimal taxes on capital in the OLG model with uninsurable idiosyncratic income risk," ICIR Working Paper Series 38/21, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).

  6. YiLi Chien & Yi Wen, 2019. "Don't Tax Capital---Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," 2019 Meeting Papers 258, Society for Economic Dynamics.

    Cited by:

    1. Odran Bonnet & Guillaume Flamerie de La Chapelle & Alain Trannoy & Etienne Wasmer, 2019. "Secular Trends in Wealth and Heterogeneous Capital: Land is Back... and Should Be Taxed," Sciences Po Economics Discussion Papers hal-03570837, HAL.
    2. Chari, V.V. & Nicolini, Juan Pablo & Teles, Pedro, 2020. "Optimal capital taxation revisited," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 147-165.
    3. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.
    4. Yunmin Chen & YiLi Chien & C.C. Yang, 2021. "Optimal Capital Taxation and Precautionary Savings," Review, Federal Reserve Bank of St. Louis, vol. 103(3), pages 333-350, July.

  7. YiLi Chien & Yi Wen, 2019. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Working Papers 2019-007, Federal Reserve Bank of St. Louis, revised 26 Jul 2021.

    Cited by:

    1. Chien, YiLi & Wen, Yi, 2021. "Time-inconsistent optimal quantity of debt," European Economic Review, Elsevier, vol. 140(C).
    2. Tomohiro Hirano & Alexis Akira Toda, 2023. "Bubble Necessity Theorem," Papers 2305.08268, arXiv.org, revised Apr 2024.
    3. Chen, Yunmin & Chien, YiLi & Wen, Yi & Yang, C.C., 2021. "Should capital be taxed?," Economics Letters, Elsevier, vol. 200(C).
    4. Odran Bonnet & Guillaume Flamerie de La Chapelle & Alain Trannoy & Etienne Wasmer, 2019. "Secular Trends in Wealth and Heterogeneous Capital: Land is Back... and Should Be Taxed," Working Papers hal-03570837, HAL.
    5. Chari, V.V. & Nicolini, Juan Pablo & Teles, Pedro, 2020. "Optimal capital taxation revisited," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 147-165.
    6. Krueger, Dirk & Ludwig, Alexander & Villalvazo, Sergio, 2021. "Optimal taxes on capital in the OLG model with uninsurable idiosyncratic income risk," ICIR Working Paper Series 38/21, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    7. Pablo Garcia Sanchez & Luca Marchiori & Olivier Pierrard, 2024. "On optimal subsidies for prevention and long-term care," BCL working papers 186, Central Bank of Luxembourg.
    8. Chen, Yunmin & Chien, YiLi & Wen, Yi & Yang, C.C., 2021. "Are unconditional lump-sum transfers a good idea?," Economics Letters, Elsevier, vol. 209(C).
    9. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.
    10. Jermann, Urban & Xiang, Haotian, 2025. "Rules versus discretion in capital regulation," Journal of Financial Economics, Elsevier, vol. 169(C).

  8. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.

    Cited by:

    1. YiLi Chien & Yi Wen & HsinJung Wu, 2020. "Are Government Bonds Net Wealth or a Liability? ---Optimal Debt and Taxes in an OLG Model with Uninsurable Income Risk," Working Papers 2020-007, Federal Reserve Bank of St. Louis, revised 02 Apr 2025.
    2. Rodolfo E. Manuelli, 2025. "Optimal Monetarist Arithmetic or How to Inflate If You Must," Working Papers 2025-009, Federal Reserve Bank of St. Louis, revised 03 Apr 2025.
    3. Zhengyang Jiang & Hanno Lustig & Stijn Van Nieuwerburgh & Mindy Z. Xiaolan, 2024. "What Drives Variation in the U.S. Debt‐to‐Output Ratio? The Dogs that Did not Bark," Journal of Finance, American Finance Association, vol. 79(4), pages 2603-2665, August.
    4. Chien, YiLi & Wen, Yi, 2021. "Time-inconsistent optimal quantity of debt," European Economic Review, Elsevier, vol. 140(C).
    5. Tran-Xuan, Monica, 2023. "Optimal redistributive policy in debt constrained economies," Journal of International Economics, Elsevier, vol. 144(C).
    6. Yunmin Chen & YiLi Chien & Yi Wen & C. C. Yang, 2021. "Are Unconditional Lump-sum Transfers a Good Idea?," Working Papers 2021-002, Federal Reserve Bank of St. Louis, revised 10 Sep 2021.
    7. Ruiz, Yomara & Aguirre, Nikolay & Ponce, Pablo & Álvarez-García, José, 2025. "Differential impact of natural resource revenues on global public debt: A quantile regression approach," Resources Policy, Elsevier, vol. 100(C).
    8. Zhengyang Jiang & Hanno Lustig & Stijn Van Nieuwerburgh & Mindy Z. Xiaolan, 2024. "The U.S. Public Debt Valuation Puzzle," Econometrica, Econometric Society, vol. 92(4), pages 1309-1347, July.
    9. YiLi Chien & Yi Wen, 2020. "Optimal Fiscal Policy under Capital Overaccumulation," Working Papers 2020-002, Federal Reserve Bank of St. Louis, revised 30 Aug 2021.

  9. Kanda Naknoi & Hanno Lustig & YiLi Chien, 2017. "Why Are Exchange Rates So Smooth? A Heterogeneous Portfolio Explanation," 2017 Meeting Papers 214, Society for Economic Dynamics.

    Cited by:

    1. Zhengyang Jiang, 2019. "US Fiscal Cycle and the Dollar," 2019 Meeting Papers 667, Society for Economic Dynamics.
    2. Edouard Djeutem & Geoffrey R. Dunbar, 2018. "Uncovered Return Parity: Equity Returns and Currency Returns," Staff Working Papers 18-22, Bank of Canada.

  10. Yunmin Chen & YiLi Chien & C.C. Yang, 2017. "Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited," Working Papers 2017-003, Federal Reserve Bank of St. Louis, revised 01 Oct 2020.

    Cited by:

    1. YiLi Chien & Yi Wen & HsinJung Wu, 2020. "Are Government Bonds Net Wealth or a Liability? ---Optimal Debt and Taxes in an OLG Model with Uninsurable Income Risk," Working Papers 2020-007, Federal Reserve Bank of St. Louis, revised 02 Apr 2025.
    2. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.
    3. YiLi Chien & Yi Wen, 2020. "Optimal Fiscal Policy under Capital Overaccumulation," Working Papers 2020-002, Federal Reserve Bank of St. Louis, revised 30 Aug 2021.
    4. Krueger, Dirk & Ludwig, Alexander, 2018. "Optimal taxes on capital in the OLG model with uninsurable idiosyncratic income risk," ZEW Discussion Papers 18-014, ZEW - Leibniz Centre for European Economic Research.
    5. YiLi Chien & Yi Wen, 2019. "The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty," Working Papers 2019-038, Federal Reserve Bank of St. Louis, revised 28 Apr 2022.
    6. YiLi Chien & Yi Wen, 2019. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Working Papers 2019-007, Federal Reserve Bank of St. Louis, revised 26 Jul 2021.

  11. YiLi Chien & Yi Wen, 2017. "Optimal Ramsey Capital Income Taxation —A Reappraisal," Working Papers 2017-24, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Yunmin Chen & Cheng Chen Yang & YiLi Chien, 2018. "Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited," 2018 Meeting Papers 59, Society for Economic Dynamics.
    2. Marco Bassetto & Wei Cui, 2020. "A Ramsey Theory of Financial Distortions," Working Papers 775, Federal Reserve Bank of Minneapolis.
    3. Torben M. Andersen, 2020. "Taxation of capital income in overlapping generations economies," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(5), pages 1245-1261, September.
    4. YiLi Chien & Yi Wen, 2019. "Don't Tax Capital---Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," 2019 Meeting Papers 258, Society for Economic Dynamics.
    5. Feng Dong & Yi Wen, 2018. "Long and Plosser Meet Bewley and Lucas," Working Papers 2018-8, Federal Reserve Bank of St. Louis.
    6. Dirk Krueger & Alexander Ludwig, 2018. "Optimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk," NBER Working Papers 24335, National Bureau of Economic Research, Inc.
    7. Feng Dong & Yi Wen, 2019. "Time-Varying Networks and the Efficacy of Money Without Sticky Prices," 2019 Meeting Papers 1464, Society for Economic Dynamics.

  12. Chien, YiLi & Lustig, Hanno & Naknoi, Kanda, 2015. "Why Are Exchange Rates So Smooth? A Segmented Asset Markets Explanation," Research Papers 3414, Stanford University, Graduate School of Business.

    Cited by:

    1. Zhengyang Jiang, 2019. "US Fiscal Cycle and the Dollar," 2019 Meeting Papers 667, Society for Economic Dynamics.
    2. Adrien Verdelhan & Hanno Lustig, 2016. "Does Incomplete Spanning in International Financial Markets Help to Explain Exchange Rates?," 2016 Meeting Papers 1183, Society for Economic Dynamics.
    3. Edouard Djeutem & Geoffrey R. Dunbar, 2018. "Uncovered Return Parity: Equity Returns and Currency Returns," Staff Working Papers 18-22, Bank of Canada.
    4. Anella Munro, 2016. "Bond premia, monetary policy and exchange rate dynamics," Reserve Bank of New Zealand Discussion Paper Series DP2016/11, Reserve Bank of New Zealand.
    5. Hassan, Ramin & Loualiche, Erik & Pecora, Alexandre R. & Ward, Colin, 2023. "International trade and the risk in bilateral exchange rates," Journal of Financial Economics, Elsevier, vol. 150(2).

  13. YiLi Chien & Hanno Lustig & Kanda Naknoi, 2015. "Why Are Exchange Rates So Smooth? A Household Finance Explanation," Working Papers 2015-39, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Maurer, Thomas & Tran, Ngoc-Khanh, 2021. "Entangled risks in incomplete FX markets," Journal of Financial Economics, Elsevier, vol. 142(1), pages 146-165.
    2. Curatola, Giuliano & Dergunov, Ilya, 2023. "International capital markets with interdependent preferences: Theory and empirical evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 403-421.
    3. Emile A. Marin & Sanjay R. Singh, 2023. "Low Risk Sharing with Many Assets," Working Paper Series 2023-37, Federal Reserve Bank of San Francisco.
    4. Mirela Sandulescu & Fabio Trojani & Andrea Vedolin, 2021. "Model‐Free International Stochastic Discount Factors," Journal of Finance, American Finance Association, vol. 76(2), pages 935-976, April.
    5. Hornstein, Abigail S. & Naknoi, Kanda, 2023. "FDI commitments increase when uncertainty is resolved: Evidence from Asia," Journal of Asian Economics, Elsevier, vol. 87(C).
    6. Emile A. Marin & Sanjay R. Singh, 2025. "Incomplete Markets and Exchange Rates," Working Paper Series 2025-11, Federal Reserve Bank of San Francisco.
    7. Adrien Verdelhan & Hanno Lustig, 2016. "Does Incomplete Spanning in International Financial Markets Help to Explain Exchange Rates?," 2016 Meeting Papers 1183, Society for Economic Dynamics.
    8. Anella Munro, 2016. "Bond premia, monetary policy and exchange rate dynamics," Reserve Bank of New Zealand Discussion Paper Series DP2016/11, Reserve Bank of New Zealand.
    9. Shaojun Zhang, 2021. "Limited Risk Sharing and International Equity Returns," Journal of Finance, American Finance Association, vol. 76(2), pages 893-933, April.

  14. Gabriele Camera & YiLi Chien, 2013. "Two Monetary Models with Alternating Markets," Working Papers 13-25, Chapman University, Economic Science Institute.

    Cited by:

    1. Marchiori, Luca, 2021. "Monetary theory reversed: Virtual currency issuance and the inflation tax," Journal of International Money and Finance, Elsevier, vol. 117(C).
    2. Homburg, Stefan, 2017. "A Study in Monetary Macroeconomics," OUP Catalogue, Oxford University Press, number 9780198807537.
    3. Mehrab Kiarsi, 2021. "The rise of market power and Ramsey‐optimal policy implications," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 50(1), February.

  15. Gabriele Camera & YiLi Chien, 2012. "Understanding the distributional impact of long-run inflation," Working Papers 2012-058, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Jin, Gu & Zhu, Tao, 2022. "Heterogeneity, decentralized trade, and the long-run real effects of inflation," Journal of Economic Theory, Elsevier, vol. 201(C).
    2. YiLi Chien & Yi Wen, 2017. "Optimal Ramsey Capital Income Taxation —A Reappraisal," Working Papers 2017-24, Federal Reserve Bank of St. Louis.
    3. Hongfei Sun & Chenggang Zhou, 2018. "Monetary and fiscal policies in a heterogeneous‐agent economy," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(3), pages 747-783, August.
    4. Mehdi el Herradi & Jakob de Haan & Aurélien Leroy, 2020. "Inflation and the Income Share of the Rich: Evidence for 12 OECD Countries," CESifo Working Paper Series 8203, CESifo.
    5. Lilian Muchimba & Mimoza Shabani & Alexis Stenfors & Jan Toporowski, 2024. "Decomposing the Rate of Inflation: Price-Setting and Monetary Policy," Working Papers in Economics & Finance 2024-04, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    6. Curran, Michael & Dressler, Scott J., 2020. "Preferences, inflation, and welfare," European Economic Review, Elsevier, vol. 130(C).
    7. Mehmet Balcilar & Shinhye Chang & Rangan Gupta & Stephen M. Miller, 2018. "The relationship between the inflation rate and inequality across U.S. states: a semiparametric approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 52(5), pages 2413-2425, September.
    8. Mehdi El Herradi & Jakob de Haan & Aurelien Leroy, 2021. "Inflation and the Income Share of the Rich: Evidence for 14 OECD Countries," Working Papers 570, ECINEQ, Society for the Study of Economic Inequality.
    9. Abdulaleem Isiaka & Alexander Mihailov & Giovanni Razzu, 2025. "Government spending reallocations and inequality: evidence from middle-income countries," Empirical Economics, Springer, vol. 69(3), pages 1229-1257, September.
    10. Paola Boel, 2017. "The Redistributive Effects of Inflation and the Shape of Money Demand," LWS Working papers 25, LIS Cross-National Data Center in Luxembourg.
    11. Kakar, Venoo, 2014. "On the Redistributional Effects of Long-Run Inflation in a Cash-in-Advance Economy," MPRA Paper 69513, University Library of Munich, Germany.
    12. Yoichi Gokan & Stephen J. Turnovsky, 2021. "Wealth and income inequality in a monetary economy," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(2), pages 225-245, October.
    13. Binder, Carola, 2019. "Inequality and the inflation tax," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
    14. Michael Patrick Curran & Scott J. Dressler, 2019. "Preference Heterogeneity, Inflation, and Welfare," Villanova School of Business Department of Economics and Statistics Working Paper Series 40, Villanova School of Business Department of Economics and Statistics.
    15. Abdulaleem Isiaka & Alexander Mihailov & Giovanni Razzi, 2022. "Reallocating Government Spending to Reduce Income Inequality: Panel Data Evidence from the Middle-Income Countries," Economics Discussion Papers em-dp2022-08, Department of Economics, University of Reading.

  16. YiLi Chien & Kanda Naknoi, 2012. "The risk premium and long-run global imbalances," Working Papers 2012-009, Federal Reserve Bank of St. Louis.

    Cited by:

    1. YiLi Chien & Hanno Lustig & Kanda Naknoi, 2017. "Why Are Exchange Rates So Smooth? A Household Finance Explanation," Working papers 2017-20, University of Connecticut, Department of Economics.
    2. Semyon Malamud & Andreas Schrimpf, 2018. "An intermediation-based model of exchange rates," BIS Working Papers 743, Bank for International Settlements.
    3. Schroth, Josef, 2023. "Capital flows and growth across developing countries," Journal of International Money and Finance, Elsevier, vol. 137(C).
    4. Jacek Rothert & Andy Glover & Ayse Kabukcuoglu Dur, 2023. "Winners and losers from reducing global imbalances," GRAPE Working Papers 80, GRAPE Group for Research in Applied Economics.
    5. Zhengyang Jiang, 2024. "Exorbitant Privilege: A Safe-Asset View," CESifo Working Paper Series 11279, CESifo.
    6. Alexander Monge-Naranjo, 2020. "The United States as a Global Financial Intermediary and Insurer," Economic Synopses, Federal Reserve Bank of St. Louis, issue 2, January.
    7. Zhiwei XU & Yi Wen & pengfei Wang, 2013. "Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach," 2013 Meeting Papers 406, Society for Economic Dynamics.
    8. Shaojun Zhang, 2021. "Limited Risk Sharing and International Equity Returns," Journal of Finance, American Finance Association, vol. 76(2), pages 893-933, April.

  17. Yi-Li Chien & Harold L. Cole & Hanno Lustig, 2009. "Is the Volatility of the Market Price of Risk due to Intermittent Portfolio Re-balancing?," NBER Working Papers 15382, National Bureau of Economic Research, Inc.

    Cited by:

    1. Edison Yu, 2013. "Dynamic market participation and endogenous information aggregation," Working Papers 13-42, Federal Reserve Bank of Philadelphia.
    2. Mohammad (Vahid) Irani & Hugh Hoikwang Kim, 2023. "The consequences of non‐trading institutional investors," Financial Management, Financial Management Association International, vol. 52(3), pages 433-481, September.
    3. Winkler, Julian, 2024. "Changing preferences as a source of stock return variation," MPRA Paper 122802, University Library of Munich, Germany.
    4. Cantore, C. & Freund, L. B., 2020. "Workers, Capitalists, and the Government: Fiscal Policy and Income (Re)Distribution," Cambridge Working Papers in Economics 2095, Faculty of Economics, University of Cambridge.
    5. Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.
    6. Chen, Huaizhi, 2025. "Diversification driven demand for large stock," Journal of Financial Economics, Elsevier, vol. 172(C).
    7. Pagel, Michaela & Olafsson, Arna, 2017. "The Ostrich in Us: Selective Attention to Financial Accounts, Income, Spending, and Liquidity," CEPR Discussion Papers 12259, C.E.P.R. Discussion Papers.
    8. Jędrzej Białkowski & Ehud I. Ronn, 2017. "The Global Equity Premium Revisited: What Human Rights Imply for Assets’ Purchasing Power," Working Papers in Economics 17/19, University of Canterbury, Department of Economics and Finance.
    9. YiLi Chien, 2015. "The Welfare Cost of Business Cycles with Heterogeneous Trading Technologies," Review, Federal Reserve Bank of St. Louis, vol. 97(1), pages 67-85.
    10. Banerjee, Rhythm, 2024. "Shifting Tides: the Effect of Institutional Divestments on the Global Market," MPRA Paper 121922, University Library of Munich, Germany, revised 11 Apr 2024.
    11. David, Joel M. & Simonovska, Ina, 2016. "Correlated beliefs, returns, and stock market volatility," Journal of International Economics, Elsevier, vol. 99(S1), pages 58-77.
    12. Stavros Panageas, 2020. "The Implications of Heterogeneity and Inequality for Asset Pricing," NBER Working Papers 26974, National Bureau of Economic Research, Inc.
    13. Lewis, Kurt F. & Longstaff, Francis A. & Petrasek, Lubomir, 2021. "Asset mispricing," Journal of Financial Economics, Elsevier, vol. 141(3), pages 981-1006.
    14. Mustafa Caglayan & Tho Pham & Oleksandr Talavera & Xiong Xiong, 2019. "Asset mispricing in loan secondary markets," Discussion Papers 19-07, Department of Economics, University of Birmingham.
    15. Vincent Bogousslavsky, 2016. "Infrequent Rebalancing, Return Autocorrelation, and Seasonality," Journal of Finance, American Finance Association, vol. 71(6), pages 2967-3006, December.
    16. Grand, François Le & Ragot, Xavier, 2018. "A class of tractable incomplete-market models for studying asset returns and risk exposure," European Economic Review, Elsevier, vol. 103(C), pages 39-59.
    17. Gao, Xiaodan & Hnatkovska, Viktoria & Marmer, Vadim, 2012. "Limited Participation in International Business Cycle Models: A Formal Evaluation," Microeconomics.ca working papers vadim_marmer-2012-1, Vancouver School of Economics, revised 21 Dec 2013.
    18. Campanale, Claudio & Fugazza, Carolina & Gomes, Francisco, 2015. "Life-cycle portfolio choice with liquid and illiquid financial assets," Journal of Monetary Economics, Elsevier, vol. 71(C), pages 67-83.
    19. Cespa, Giovanni & Vives, Xavier, 2017. "High Frequency Trading and Fragility," IESE Research Papers D/1161, IESE Business School.
    20. Bacchetta, Philippe & van Wincoop, Eric, 2017. "Gradual Portfolio Adjustment: Implications for Global Equity Portfolios and Returns," CEPR Discussion Papers 11983, C.E.P.R. Discussion Papers.
    21. Dumas, Bernard & Buss, Adrian, 2015. "Trading Fees and Slow-Moving Capital," CEPR Discussion Papers 10737, C.E.P.R. Discussion Papers.
    22. Matteo Leombroni & Monika Piazzesi & Martin Schneider & Ciaran Rogers, 2020. "Inflation and the Price of Real Assets," NBER Working Papers 26740, National Bureau of Economic Research, Inc.
    23. Andrea L. Eisfeldt & Hanno Lustig & Lei Zhang, 2017. "Complex Asset Markets," NBER Working Papers 23476, National Bureau of Economic Research, Inc.
    24. Peress, Joël & Dong, Xi & KANG, NAMHO, 2020. "Fast and Slow Arbitrage: Fund Flows and Mispricing in the Frequency Domain," CEPR Discussion Papers 15235, C.E.P.R. Discussion Papers.
    25. Xing Guo & Pablo Ottonello & Diego Perez, 2022. "Monetary Policy and Redistribution in Open Economies," Staff Working Papers 22-6, Bank of Canada.
    26. Piazzesi, Monika & Leombroni, Matteo & Rogers, Ciaran & Schneider, Martin, 2020. "Inflation and the Price of Real Assets," CEPR Discussion Papers 14390, C.E.P.R. Discussion Papers.
    27. Fernando Alvarez & Luigi Guiso & Francesco Lippi, 2012. "Durable Consumption and Asset Management with Transaction and Observation Costs," American Economic Review, American Economic Association, vol. 102(5), pages 2272-2300, August.
    28. Caglayan, Mustafa & Pham, Tho & Talavera, Oleksandr & Xiong, Xiong, 2020. "Asset mispricing in peer-to-peer loan secondary markets," Journal of Corporate Finance, Elsevier, vol. 65(C).
    29. Fang, Xiang & Liu, Yang, 2021. "Volatility, intermediaries, and exchange rates," Journal of Financial Economics, Elsevier, vol. 141(1), pages 217-233.
    30. Gomes, Francisco & Fugazza, Carolina & Campanale, Claudio, 2015. "Life-Cycle Portfolio choice with Liquid and Illiquid Assets," CEPR Discussion Papers 10369, C.E.P.R. Discussion Papers.
    31. Białkowski, Jędrzej & Ronn, Ehud I., 2019. "The global equity premium revisited: What human rights imply for assets' purchasing power," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 175-187.
    32. Winkler, Julian, 2023. "Managing fundamentals versus preferences: Re-balancing portfolios and stock returns," MPRA Paper 119149, University Library of Munich, Germany.
    33. YiLi Chien & Harold L. Cole & Hanno Lustig, 2014. "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy," NBER Working Papers 20328, National Bureau of Economic Research, Inc.
    34. Rohan Kekre & Moritz Lenel, 2022. "Monetary Policy, Redistribution, and Risk Premia," Econometrica, Econometric Society, vol. 90(5), pages 2249-2282, September.
    35. Chabakauri, Georgy & Rytchkov, Oleg, 2021. "Asset pricing with index investing," Journal of Financial Economics, Elsevier, vol. 141(1), pages 195-216.
    36. Bacchetta, Philippe & Tièche, Simon & van Wincoop, Eric, 2020. "International Portfolio Choice with Frictions: Evidence from Mutual Funds," CEPR Discussion Papers 14898, C.E.P.R. Discussion Papers.
    37. Yili Chien & Harold Cole & Hanno Lustig, 2016. "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 215-239, April.
    38. Giovanni Cespa & Xavier Vives, 2016. "Market Transparency and Fragility," CESifo Working Paper Series 6279, CESifo.
    39. Adrian Buss & Bernard Dumas, 2015. "The Dynamic Properties of Financial-Market Equilibrium with Trading Fees," NBER Working Papers 21421, National Bureau of Economic Research, Inc.
    40. Philippe Bacchetta & Eric van Wincoop, 2018. "Puzzling Exchange Rate Dynamics and Delayed Portfolio Adjustment," 2018 Meeting Papers 675, Society for Economic Dynamics.
    41. Joel Peress & Daniel Schmidt, 2020. "Glued to the TV: Distracted Noise Traders and Stock Market Liquidity," Journal of Finance, American Finance Association, vol. 75(2), pages 1083-1133, April.
    42. Steffen Meyer & Michaela Pagel, 2019. "Fully Closed: Individual Responses to Realized Gains and Losses," NBER Working Papers 25542, National Bureau of Economic Research, Inc.
    43. Chien, YiLi & Lustig, Hanno & Naknoi, Kanda, 2020. "Why are exchange rates so smooth? A household finance explanation," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 129-144.
    44. Finocchiaro, Daria, 2011. "Inattention, wealth inequality and equilibrium asset prices," Journal of Monetary Economics, Elsevier, vol. 58(2), pages 146-155, March.
    45. François Le Grand & Xavier Ragot, 2022. "Managing Inequality Over Business Cycles: Optimal Policies With Heterogeneous Agents And Aggregate Shocks," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(1), pages 511-540, February.
    46. Isaenko, Sergey, 2023. "Trading strategies and the frequency of time-series," The Quarterly Review of Economics and Finance, Elsevier, vol. 90(C), pages 267-283.
    47. Felipe Schwartzman & Carlos Carvalho, 2012. "Selection and Monetary Non-Neutrality in Time-Dependent Pricing Models," 2012 Meeting Papers 987, Society for Economic Dynamics.
    48. Elías Albagli, 2013. "Investment Horizons and Asset Prices under Asymmetric Information," Working Papers Central Bank of Chile 709, Central Bank of Chile.
    49. Kurt F. Lewis & Francis A. Longstaff & Lubomir Petrasek, 2017. "Asset Mispricing," NBER Working Papers 23231, National Bureau of Economic Research, Inc.
    50. Ravi Bansal & Amir Yaron & Colin Ward, 2018. "Shifts in Sectoral Wealth Shares and Risk Premia: What Explains Them?," 2018 Meeting Papers 599, Society for Economic Dynamics.
    51. Steffen Meyer & Michaela Pagel, 2022. "Fully Closed: Individual Responses to Realized Gains and Losses," Journal of Finance, American Finance Association, vol. 77(3), pages 1529-1585, June.
    52. Byrne, Joseph P. & Sakemoto, Ryuta, 2021. "The conditional volatility premium on currency portfolios," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    53. Philippe Bacchetta, 2017. "Slow Moving Capital: Evidence from Global Equity Portfolios," 2017 Meeting Papers 1166, Society for Economic Dynamics.

  18. Junsang Lee & Yili Chien, 2008. "Why Tax Capital?," ANU Working Papers in Economics and Econometrics 2008-497, Australian National University, College of Business and Economics, School of Economics.

    Cited by:

    1. Daniel R. Carroll & Jim Dolmas & Eric Young, 2015. "Majority Voting: A Quantitative Investigation," Working Papers (Old Series) 1442, Federal Reserve Bank of Cleveland.
    2. Junsang Lee & Yili Chien, 2008. "Optimal Capital Taxation Under Limited Commitment," ANU Working Papers in Economics and Econometrics 2008-498, Australian National University, College of Business and Economics, School of Economics.

  19. Junsang Lee & Yili Chien, 2008. "Optimal Capital Taxation Under Limited Commitment," ANU Working Papers in Economics and Econometrics 2008-498, Australian National University, College of Business and Economics, School of Economics.

    Cited by:

    1. Yili Chien & Junsang Lee, 2006. "Why Tax Capital?," 2006 Meeting Papers 492, Society for Economic Dynamics.
    2. André Kurmann, 2009. "Holdups and Overinvestment in Physical Capital Markets," Cahiers de recherche 0904, CIRPEE.
    3. Kurmann, André, 2014. "Holdups and overinvestment in capital markets," Journal of Economic Theory, Elsevier, vol. 151(C), pages 88-113.

  20. Harold L. Cole & Hanno & YiLi Chien, 2007. "Macro Implications of Household Finance," 2007 Meeting Papers 479, Society for Economic Dynamics.

    Cited by:

    1. Sánchez-Cano, Julieta Evangelina, 2012. "The public policies of the mexican agricutural sector in the framework of the international economy," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(33), pages 45-77, primer tr.
    2. Verdelhan, Adrien & Van Nieuwerburgh, Stijn & Lustig, Hanno, 2012. "The Wealth-Consumption Ratio," CEPR Discussion Papers 9022, C.E.P.R. Discussion Papers.
    3. Jianwei Lin & Gechun Liang & Sen Wu & Harry Zheng, 2011. "The Valuation Of The Basket Cds In A Primary-Subsidiary Model," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 28(02), pages 213-238.
    4. Casu, Barbara & Girardone, Claudia, 2010. "Integration and efficiency convergence in EU banking markets," Omega, Elsevier, vol. 38(5), pages 260-267, October.
    5. YiLi Chien & Kanda Naknoi, 2012. "The risk premium and long-run global imbalances," Working Papers 2012-009, Federal Reserve Bank of St. Louis.
    6. Ferre De Graeve & Maarten Dossche & Marina Emiris & Henri Sneessens & Raf Wouters, 2008. "Risk premiums and macroeconomic dynamics in a heterogeneous agent model," Working Paper Research 150, National Bank of Belgium.
    7. Marcin Kacperczyk & Stijn Van Nieuwerburgh & Laura Veldkamp, 2009. "Rational Attention Allocation Over the Business Cycle," NBER Working Papers 15450, National Bureau of Economic Research, Inc.
    8. Clapp, Jennifer & Moseley, William G. & Burlingame, Barbara & Termine, Paola, 2022. "Viewpoint: The case for a six-dimensional food security framework," Food Policy, Elsevier, vol. 106(C).
    9. Kollmann, Robert, 2009. "Domestic Financial Frictions: Implications for International Risk Sharing, Real Exchange Rate Volatility and International Business Cycles," MPRA Paper 70348, University Library of Munich, Germany.

  21. YiLi Chien & Harold Cole & Hanno Lustig, 2007. "A Multiplier Approach to Understanding the Macro Implications of Household Finance," NBER Working Papers 13555, National Bureau of Economic Research, Inc.

    Cited by:

    1. François Le Grand & Xavier Ragot, 2020. "Managing Inequality over Business Cycles: Optimal Policies with Heterogeneous Agents and Aggregate Shocks," Sciences Po Economics Discussion Papers hal-03476095, HAL.
    2. Gabriele Camera & YiLi Chien, 2012. "Understanding the distributional impact of long-run inflation," Working Papers 2012-058, Federal Reserve Bank of St. Louis.
    3. Nicolas Coeurdacier & Hélène Rey, 2013. "Home Bias in Open Economy Financial Macroeconomics," Post-Print hal-03473901, HAL.
    4. Felix Kubler & Piero Gottardi, 2012. "Dynamic Competitive Economies with Complete Markets and Collateral Constraints," 2012 Meeting Papers 467, Society for Economic Dynamics.
    5. Yunmin Chen & Cheng Chen Yang & YiLi Chien, 2018. "Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited," 2018 Meeting Papers 59, Society for Economic Dynamics.
    6. Chabakauri, Georgy, 2012. "Asset pricing with heterogeneous investors and portfolio constraints," LSE Research Online Documents on Economics 119046, London School of Economics and Political Science, LSE Library.
    7. Xiao Chen & Jin Hyuk Choi & Kasper Larsen & Duane J. Seppi, 2023. "Price impact in Nash equilibria," Finance and Stochastics, Springer, vol. 27(2), pages 305-340, April.
    8. YiLi Chien & Hanno Lustig & Kanda Naknoi, 2017. "Why Are Exchange Rates So Smooth? A Household Finance Explanation," Working papers 2017-20, University of Connecticut, Department of Economics.
    9. Grey Gordon, 2020. "Computing Dynamic Heterogeneous-Agent Economies: Tracking the Distribution," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 61-95.
    10. YiLi Chien, 2015. "The Welfare Cost of Business Cycles with Heterogeneous Trading Technologies," Review, Federal Reserve Bank of St. Louis, vol. 97(1), pages 67-85.
    11. Christian Friedrich, 2015. "Does Financial Integration Increase Welfare? Evidence from International Household-Level Data," Staff Working Papers 15-4, Bank of Canada.
    12. Nicola Pavoni & Christopher Sleet & Matthias Messner, 2014. "The Dual Approach to Recursive Optimization: Theory and Examples," 2014 Meeting Papers 1267, Society for Economic Dynamics.
    13. Karen Lewis & Fabio Ghironi, 2014. "Equity Sales and Manager Efficiency Across Firms and the Business Cycle," 2014 Meeting Papers 1079, Society for Economic Dynamics.
    14. Chabakauri, Georgy, 2010. "Asset pricing with heterogeneous investors and portfolio constraints," LSE Research Online Documents on Economics 43142, London School of Economics and Political Science, LSE Library.
    15. Matthias Messner & Nicola Pavoni & Sleet Christopher, 2011. "On the Dual Approach to Recursive Optimization," GSIA Working Papers 2012-E8, Carnegie Mellon University, Tepper School of Business.
    16. Felix Kubler & Johannes Brumm, 2013. "Applying Negishi's method to stochastic models with overlapping generations," 2013 Meeting Papers 1352, Society for Economic Dynamics.
    17. Grand, François Le & Ragot, Xavier, 2018. "A class of tractable incomplete-market models for studying asset returns and risk exposure," European Economic Review, Elsevier, vol. 103(C), pages 39-59.
    18. Marlon Azinovic-Yang & Jan Zemlicka, 2025. "Deep Learning in the Sequence Space," CERGE-EI Working Papers wp802, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    19. Mengus, Eric & Roberto Pancrazi, "undated". "The Inequality Accelerator," Economic Research Papers 270216, University of Warwick - Department of Economics.
    20. Georgy Chabakauri, 2012. "Asset Pricing with Heterogeneous Investors and Portfolio Constraints," 2012 Meeting Papers 636, Society for Economic Dynamics.
    21. Gao, Xiaodan & Hnatkovska, Viktoria & Marmer, Vadim, 2012. "Limited Participation in International Business Cycle Models: A Formal Evaluation," Microeconomics.ca working papers vadim_marmer-2012-1, Vancouver School of Economics, revised 21 Dec 2013.
    22. Feng, Jian & Huo, Xiaolin & Liu, Xin & Mao, Yifei & Xiang, Hong, 2025. "Economic links from bonds and cross-stock return predictability," Journal of Financial Economics, Elsevier, vol. 171(C).
    23. Reiter, Michael, 2018. "Comments on “Exploiting MIT shocks in heterogeneous-agent economies: The impulse response as a numerical derivative” by T. Boppart, P. Krusell and K. Mitman," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 93-99.
    24. Marcin Kacperczyk & Jaromir B. Nosal & Luminita Stevens, 2014. "Investor Sophistication and Capital Income Inequality," NBER Working Papers 20246, National Bureau of Economic Research, Inc.
    25. YiLi Chien & Kanda Naknoi, 2012. "The risk premium and long-run global imbalances," Working Papers 2012-009, Federal Reserve Bank of St. Louis.
    26. Andrea L. Eisfeldt & Hanno Lustig & Lei Zhang, 2017. "Complex Asset Markets," NBER Working Papers 23476, National Bureau of Economic Research, Inc.
    27. Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009. "Quantitative Macroeconomics with Heterogeneous Households," NBER Working Papers 14768, National Bureau of Economic Research, Inc.
    28. YiLi Chien & Junsang Lee, 2018. "The Real Term Premium in a Stationary Economy with Segmented Asset Markets," Working Papers 2018-30, Federal Reserve Bank of St. Louis.
    29. Marlon Azinovic-Yang & Jan v{Z}emliv{c}ka, 2025. "Deep Learning in the Sequence Space," Papers 2509.13623, arXiv.org, revised Mar 2026.
    30. Edmond, Chris & Weill, Pierre-Olivier, 2012. "Aggregate implications of micro asset market segmentation," Journal of Monetary Economics, Elsevier, vol. 59(4), pages 319-335.
    31. Harold Cole & Felix Kubler, 2012. "Recursive Contracts, Lotteries and Weakly Concave Pareto Sets," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(4), pages 479-500, October.
    32. Altmejd, Adam & Jansson, Thomas & Karabulut, Yigitcan, 2024. "Business Education and Portfolio Returns," IZA Discussion Papers 16976, IZA Network @ LISER.
    33. Dean Corbae & Erwan Quintin, 2019. "Asset Quality Dynamics," 2019 Meeting Papers 368, Society for Economic Dynamics.
    34. YiLi Chien & Yi Wen, 2019. "Don't Tax Capital---Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," 2019 Meeting Papers 258, Society for Economic Dynamics.
    35. Kanda Naknoi & Hanno Lustig & YiLi Chien, 2017. "Why Are Exchange Rates So Smooth? A Heterogeneous Portfolio Explanation," 2017 Meeting Papers 214, Society for Economic Dynamics.
    36. Ferre De Graeve & Maarten Dossche & Marina Emiris & Henri Sneessens & Raf Wouters, 2008. "Risk premiums and macroeconomic dynamics in a heterogeneous agent model," Working Paper Research 150, National Bank of Belgium.
    37. YiLi Chien & Harold L. Cole & Hanno Lustig, 2014. "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy," NBER Working Papers 20328, National Bureau of Economic Research, Inc.
    38. Chabakauri, Georgy & Rytchkov, Oleg, 2021. "Asset pricing with index investing," Journal of Financial Economics, Elsevier, vol. 141(1), pages 195-216.
    39. David W. Berger & Luigi Bocola & Alessandro Dovis, 2019. "Imperfect Risk-Sharing and the Business Cycle," NBER Working Papers 26032, National Bureau of Economic Research, Inc.
    40. Yili Chien & Harold Cole & Hanno Lustig, 2016. "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 215-239, April.
    41. Zervou, Anastasia S., 2013. "Financial market segmentation, stock market volatility and the role of monetary policy," European Economic Review, Elsevier, vol. 63(C), pages 256-272.
    42. Juan M. Morelli, 2021. "Limited Participation in Equity Markets and Business Cycles," Finance and Economics Discussion Series 2021-026, Board of Governors of the Federal Reserve System (U.S.).
    43. Maurin, Vincent, 2022. "Asset scarcity and collateral rehypothecation," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    44. Favilukis, Jack, 2013. "Inequality, stock market participation, and the equity premium," Journal of Financial Economics, Elsevier, vol. 107(3), pages 740-759.
    45. Kollmann, Robert, 2009. "Domestic Financial Frictions: Implications for International Risk Sharing, Real Exchange Rate Volatility and International Business Cycles," MPRA Paper 70348, University Library of Munich, Germany.
    46. Yunmin Chen & YiLi Chien & Michael T. Owyang, 2015. "Individual and Aggregate Constrained Efficient Intertemporal Wedges in Dynamic Mirrleesian Economies," Working Papers 2015-43, Federal Reserve Bank of St. Louis.
    47. Elena Carletti & Roberto Marquez & Silvio Petriconi, 2018. "The redistributive effects of bank capital regulation," BAFFI CAREFIN Working Papers 18102, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    48. Carletti, Elena & Marquez, Robert & Petriconi, Silvio, 2020. "The redistributive effects of bank capital regulation," Journal of Financial Economics, Elsevier, vol. 136(3), pages 743-759.
    49. Du, Wenxin & Hébert, Benjamin & Li, Wenhao, 2023. "Intermediary balance sheets and the treasury yield curve," Journal of Financial Economics, Elsevier, vol. 150(3).
    50. Joseph Abadi, 2025. "Monetary Policy with Inelastic Asset Markets," Working Papers 25-15, Federal Reserve Bank of Philadelphia.
    51. Mertens, Thomas M. & Judd, Kenneth L., 2018. "Solving an incomplete markets model with a large cross-section of agents," Journal of Economic Dynamics and Control, Elsevier, vol. 91(C), pages 349-368.

  22. Hanno Lustig & Yi-Li Chien, 2005. "The Market Price of Aggregate Risk and the Wealth Distribution," NBER Working Papers 11132, National Bureau of Economic Research, Inc.

    Cited by:

    1. Monika Piazzesi & Martin Schneider, 2016. "Housing and Macroeconomics," NBER Working Papers 22354, National Bureau of Economic Research, Inc.
    2. Dirk Krueger & Hanno Lustig & Fabrizio Perri, 2007. "Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data," NBER Working Papers 13650, National Bureau of Economic Research, Inc.
    3. Martin Bodenstein, 2006. "International Asset Markets and Real Exchange Rate Volatility," International Finance Discussion Papers 884, Board of Governors of the Federal Reserve System (U.S.).
    4. Stefano Bosi & Cuong Le Van & Ngoc-Sang Pham, 2015. "Intertemporal equilibrium with heterogeneous agents, endogenous dividends and collateral constraints," Documents de travail du Centre d'Economie de la Sorbonne 15067rr, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, revised Mar 2018.
    5. Stephen Morris & Hyun Song Shin, 2003. "Liquidity Black Holes," Cowles Foundation Discussion Papers 1434, Cowles Foundation for Research in Economics, Yale University.
    6. Yili Chien & Junsang Lee, 2006. "Why Tax Capital?," 2006 Meeting Papers 492, Society for Economic Dynamics.
    7. Eva Carceles-Poveda & Arpad Abraham, 2007. "Risk Sharing under Limited Committment," 2007 Meeting Papers 818, Society for Economic Dynamics.
    8. Acharya, Viral & Pedersen, Lasse Heje, 2003. "Asset Pricing with Liquidity Risk," CEPR Discussion Papers 3749, C.E.P.R. Discussion Papers.
    9. Sanjay Sehgal & Srividya Subramaniam & Florent Deisting, 2014. "Tests Of Equity Market Anomalies For Select Emerging Markets," Post-Print hal-01881907, HAL.
    10. Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.
    11. Sanjay Sehgal & Vidisha Garg & Florent Deisting, 2012. "Relationship between cross sectional volatility and stock returns: Evidence From India," Post-Print hal-01881918, HAL.
    12. Joseph W. Gruber & Robert F. Martin, 2003. "Precautionary savings and the wealth distribution with illiquid durables," International Finance Discussion Papers 773, Board of Governors of the Federal Reserve System (U.S.).
    13. Lin, Ji-Chai & Singh, Ajai K. & Sun, Ping-Wen (Steven) & Yu, Wen, 2014. "Price delay premium and liquidity risk," Journal of Financial Markets, Elsevier, vol. 17(C), pages 150-173.
    14. Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2015. "Margin regulation and volatility," Journal of Monetary Economics, Elsevier, vol. 75(C), pages 54-68.
    15. Chabakauri, Georgy & Han, Brandon Yueyang, 2020. "Collateral constraints and asset prices," Journal of Financial Economics, Elsevier, vol. 138(3), pages 754-776.
    16. Stambaugh, Robert F. & Pástor, Luboš, 2002. "Liquidity Risk and Expected Stock Returns," CEPR Discussion Papers 3494, C.E.P.R. Discussion Papers.
    17. Robert F. Martin Joseph W. Gruber, 2004. "Does Housing Wealth Make Us Less Equal? The Role of Durable Goods in the Distribution of Wealth," Econometric Society 2004 North American Summer Meetings 15, Econometric Society.
    18. Bhamra, Harjoat Singh & Kuehn, Lars-Alexander & Strebulaev, Ilya, 2018. "The Levered Equity Risk Premium and Credit Spreads: A Unified Framework," CEPR Discussion Papers 12827, C.E.P.R. Discussion Papers.
    19. Brunnermeier, Markus K. & Pedersen, Lasse Heje, 2007. "Market liquidity and funding liquidity," LSE Research Online Documents on Economics 24478, London School of Economics and Political Science, LSE Library.
    20. Felix Kubler & Johannes Brumm, 2013. "Applying Negishi's method to stochastic models with overlapping generations," 2013 Meeting Papers 1352, Society for Economic Dynamics.
    21. Nobuhiro Kiyotaki & Alexander Michaelides & Kalin Nikolov, 2010. "Winners and Losers in House Markets," Working Papers 2010-5, Central Bank of Cyprus.
    22. Narayana R. Kocherlakota & Luigi Pistaferri, 2007. "Asset Pricing Implications of Pareto Optimality with Private Information," Levine's Bibliography 321307000000000701, UCLA Department of Economics.
    23. Thomas Mertens, 2012. "Solving General Incomplete Market Models with Substantial Heterogeneity," 2012 Meeting Papers 1173, Society for Economic Dynamics.
    24. Liu, Weimin & Luo, Di & Zhao, Huainan, 2016. "Transaction costs, liquidity risk, and the CCAPM," Journal of Banking & Finance, Elsevier, vol. 63(C), pages 126-145.
    25. Bruce Hearn & Jenifer Piesse, 2013. "A reassessment of stock market integration in SADC: the determinants of liquidity and price discovery in Namibia," Applied Financial Economics, Taylor & Francis Journals, vol. 23(2), pages 123-138, January.
    26. Michael Grill & Karl Schmedders & Felix Kubler & Johannes Brumm, 2012. "Margin Requirements and Asset Prices," 2012 Meeting Papers 533, Society for Economic Dynamics.
    27. Dávila, Eduardo, 2016. "Using elasticities to derive optimal bankruptcy exemptions," ESRB Working Paper Series 26, European Systemic Risk Board.
    28. Gaetano Bloise & Pietro Reichlin, 2008. "Asset prices, debt constraints and inefficiency," Departmental Working Papers of Economics - University 'Roma Tre' 0089, Department of Economics - University Roma Tre.
    29. Beker, Pablo & Emilio Espino, 2015. "Short-Term Momentum and Long-Term Reversal of Returns under Limited Enforceability and Belief Heterogeneity," The Warwick Economics Research Paper Series (TWERPS) 1096, University of Warwick, Department of Economics.
    30. Christian Hellwig, 2003. "Bubbles and Self-enforcing Debt (October 2006, with Guido Lorenzoni)," UCLA Economics Online Papers 229, UCLA Department of Economics.
    31. Drew Saunders, 2007. "Sharing Risk Efficiently under Suboptimal Punishments for Defection," Purdue University Economics Working Papers 1203, Purdue University, Department of Economics.
    32. Stijn Van Nieuwerburgh, 2012. "The Research Agenda: Stijn Van Nieuwerburgh on Housing and the Macroeconomy," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 13(2), April.
    33. Hansen, Lars Peter, 2013. "Risk Pricing over Alternative Investment Horizons," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, volume 2, chapter 0, pages 1571-1611, Elsevier.
    34. Soosung Hwang & Youngha Cho & Jinho Shin, 2017. "Does illiquidity matter in residential properties?," Applied Economics, Taylor & Francis Journals, vol. 49(1), pages 1-20, January.
    35. Vladimir Asriyan, 2014. "Balance sheet recessions with informational and trading frictions," Economics Working Papers 1463, Department of Economics and Business, Universitat Pompeu Fabra, revised Oct 2018.
    36. Rampini, Adriano A., 2018. "Financing Durable Assets," CEPR Discussion Papers 12997, C.E.P.R. Discussion Papers.
    37. Edmond, Chris & Weill, Pierre-Olivier, 2012. "Aggregate implications of micro asset market segmentation," Journal of Monetary Economics, Elsevier, vol. 59(4), pages 319-335.
    38. Hengjie Ai & Anmol Bhandari, 2021. "Asset Pricing With Endogenously Uninsurable Tail Risk," Econometrica, Econometric Society, vol. 89(3), pages 1471-1505, May.
    39. Lagakos, David & Ordoñez, Guillermo L., 2011. "Which workers get insurance within the firm?," Journal of Monetary Economics, Elsevier, vol. 58(6), pages 632-645.
    40. Zhang, Ally Quan, 2016. "Arbitrage with Production, Collateral Constraint and Heterogeneous Belief," VfS Annual Conference 2016 (Augsburg): Demographic Change 145539, Verein für Socialpolitik / German Economic Association.
    41. GOTTARDI, Piero & KUBLER, Felix, 2012. "Dynamic Competitive Economies with Complete Markets and Collateral Constraints," Economics Working Papers ECO2012/17, European University Institute.
    42. Martinez, Miguel A. & Nieto, Belen & Rubio, Gonzalo & Tapia, Mikel, 2005. "Asset pricing and systematic liquidity risk: An empirical investigation of the Spanish stock market," International Review of Economics & Finance, Elsevier, vol. 14(1), pages 81-103.
    43. Hisashi Nakamura, 2007. "A Continuous-Time Analysis of Optimal Debt Contracts: Theory and Applications," 2007 Meeting Papers 230, Society for Economic Dynamics.
    44. Hanno Lustig & Stijn Van Nieuwerburgh, 2010. "How Much Does Household Collateral Constrain Regional Risk Sharing?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(2), pages 265-294, April.
    45. Basak, Suleyman & Chabakauri, Georgy & Yavuz, M., 2018. "Investor protection and asset prices," LSE Research Online Documents on Economics 118917, London School of Economics and Political Science, LSE Library.
    46. Rampini, Adriano A. & Viswanathan, S., 2018. "Financial Intermediary Capital," CEPR Discussion Papers 12800, C.E.P.R. Discussion Papers.
    47. Felix Kubler & Paul S. Willen, 2006. "Collateralized borrowing and life-cycle portfolio choice," Public Policy Discussion Paper 06-4, Federal Reserve Bank of Boston.
    48. Martínez, Miguel Ángel & Nieto, Belén & Rubio, Gonzalo & Tapia, Mikel, 2002. "Asset pricing and systematic liquidity risk: an empirical investigation of the Spanish stock market," DEE - Working Papers. Business Economics. WB wb026022, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    49. YiLi Chien & Harold Cole & Hanno Lustig, 2007. "A Multiplier Approach to Understanding the Macro Implications of Household Finance," NBER Working Papers 13555, National Bureau of Economic Research, Inc.
    50. Kiyotaki, Nobuhiro & Michaelides, Alexander & Nikolov, Kalin, 2010. "Winners and Losers in Housing Markets," CEPR Discussion Papers 7953, C.E.P.R. Discussion Papers.
    51. YiLi Chien & Harold L. Cole & Hanno Lustig, 2014. "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy," NBER Working Papers 20328, National Bureau of Economic Research, Inc.
    52. Weerachart Kilenthong & Robert Townsend, 2014. "Segregated Security Exchanges with Ex Ante Rights to Trade: A Market-Based Solution to Collateral-Constrained Externalities," NBER Working Papers 20086, National Bureau of Economic Research, Inc.
    53. Jonathan Thomas & Tim Worrall, 2002. "Unemployment Insurance under Moral Hazard and Limited Commitment: Public versus Private Provision," Edinburgh School of Economics Discussion Paper Series 95, Edinburgh School of Economics, University of Edinburgh.
    54. Harold L. Cole & Dirk Krueger & George J. Mailath & Yena Park, 2021. "Social Capital: A Double-Edged Sword," ECONtribute Discussion Papers Series 064, University of Bonn and University of Cologne, Germany.
    55. Arpad Abraham & Eva Carceles-Poveda, 2006. "Complete Markets, Enforcement Constraints and Intermediation," Computing in Economics and Finance 2006 320, Society for Computational Economics.
    56. Casey B. Mulligan, 2004. "Robust Aggregate Implications of Stochastic Discount Factor Volatility," NBER Working Papers 10210, National Bureau of Economic Research, Inc.
    57. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    58. Yili Chien & Harold Cole & Hanno Lustig, 2016. "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 215-239, April.
    59. Narayana R. Kocherlakota, 2006. "Injecting Rational Bubbles," Levine's Bibliography 122247000000000905, UCLA Department of Economics.
    60. Indrajit Mitra & Leonid Kogan, 2014. "Accuracy Verification for Numerical Solutions of Equilibrium Models," 2014 Meeting Papers 423, Society for Economic Dynamics.
    61. Jonathan P Thomas & Tim Worrall, 2002. "Unemployment Insurance under Moral Hazard and Limited Commitment: Public vs Private Provision," Public Economics 0211002, University Library of Munich, Germany.
    62. V. Filipe Martins-Da-Rocha & Toan Phan & Yiannis Vailakis, 2022. "Pecuniary Externalities in Competitive Economies with Limited Pledgeability," Working Papers hal-03909596, HAL.
    63. Magill, Michael & Quinzii, Martine, 2015. "Prices and investment with collateral and default," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 111-132.
    64. Junsang Lee & Yili Chien, 2008. "Optimal Capital Taxation Under Limited Commitment," ANU Working Papers in Economics and Econometrics 2008-498, Australian National University, College of Business and Economics, School of Economics.
    65. Adriano A. Rampini & S. Viswanathan, 2016. "Household Risk Management," NBER Working Papers 22293, National Bureau of Economic Research, Inc.
    66. Christian Hellwig & Guido Lorenzoni, 2006. "Bubbles and Self-enforcing Debt," Levine's Bibliography 321307000000000383, UCLA Department of Economics.
    67. Kilenthong, Weerachart & Townsend, Robert, 2007. "Market Based, Segregated Exchanges with Default Risk," MPRA Paper 20724, University Library of Munich, Germany, revised 12 Nov 2009.
    68. Weerachart Kilenthong, 2011. "Collateral premia and risk sharing under limited commitment," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(3), pages 475-501, April.
    69. Infante, Sebastian & Ordoñez, Guillermo, 2025. "The collateral link between volatility and risk sharing," Journal of Monetary Economics, Elsevier, vol. 149(C).
    70. Daniel Neuhann & Michael Sockin, 2019. "Risk-Sharing and Investment in Concentrated Markets," 2019 Meeting Papers 118, Society for Economic Dynamics.
    71. Bloise, G. & Citanna, A., 2019. "Asset shortages, liquidity and speculative bubbles," Journal of Economic Theory, Elsevier, vol. 183(C), pages 952-990.
    72. Juan Pablo Medina, 2004. "The Default Rate and Price of Capital in a Costly External Finance Model," Working Papers Central Bank of Chile 297, Central Bank of Chile.
    73. Professor George M Constantinides, 2005. "Market Oganization and the prices of financial Assets," Money Macro and Finance (MMF) Research Group Conference 2005 49, Money Macro and Finance Research Group.
    74. Michael Grill & Karl Schmedders & Felix Kubler & Johannes Brumm, 2011. "Collateral Requirements and Asset Prices," 2011 Meeting Papers 737, Society for Economic Dynamics.
    75. Juan Pablo Medina, 2004. "Endogenous Financial Constraints: Persistence and Interest Rate Fluctuations," Working Papers Central Bank of Chile 290, Central Bank of Chile.
    76. Weiwei Liu, 2019. "An empirical study of the risk-free rate and the expected consumption growth," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 9(6), pages 1-5.
    77. Rampini, Adriano A. & Viswanathan, S., 2018. "Financing Insurance," CEPR Discussion Papers 12855, C.E.P.R. Discussion Papers.
    78. Bloise, Gaetano & Citanna, Alessandro, 2015. "Uniqueness of competitive equilibrium with solvency constraints under gross-substitution," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 287-295.
    79. YiLi Chien & Junsang Lee, 2016. "Optimal Ramsey Capital Taxation with Endogenous Government Spending," Review, Federal Reserve Bank of St. Louis, vol. 98(4), pages 311-327.
    80. Liu, Weimin, 2006. "A liquidity-augmented capital asset pricing model," Journal of Financial Economics, Elsevier, vol. 82(3), pages 631-671, December.
    81. Kalin Nikolov & Alex Michaelides & Nobuhiro Kiyotaki, 2007. "From Shirtsleeves to Shirtsleeves in a Long Lifetime," 2007 Meeting Papers 357, Society for Economic Dynamics.
    82. Xuan Vinh Vo & Hong Thu Bui, 2016. "Liquidity, liquidity risk and stock returns: evidence from Vietnam," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 9(1), pages 67-89.
    83. Dan Cao, 2011. "Collateral Shortages, Asset Price and Investment Volatility with Heterogeneous Beliefs," Working Papers gueconwpa~11-11-01, Georgetown University, Department of Economics.
    84. Emil Iantchev, 2013. "Asset-Pricing Implications of Biologically Based Non-Expected Utility," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(3), pages 497-510, July.
    85. Sergio Rebelo & Neng Wang & Jinqiang Yang, 2022. "Rare Disasters, Financial Development, and Sovereign Debt," Journal of Finance, American Finance Association, vol. 77(5), pages 2719-2764, October.
    86. Mele, Antonio, 2014. "Repeated moral hazard and recursive Lagrangeans," Journal of Economic Dynamics and Control, Elsevier, vol. 42(C), pages 69-85.
    87. Lars Peter Hansen, 2008. "Modeling the Long Run: Valuation in Dynamic Stochastic Economies," NBER Working Papers 14243, National Bureau of Economic Research, Inc.
    88. Galindo Gil, Hamilton, 2025. "How to build and solve continuous-time heterogeneous agents models in asset pricing? The martingale approach and the finite difference method," Journal of Mathematical Economics, Elsevier, vol. 116(C).
    89. Mertens, Thomas M. & Judd, Kenneth L., 2018. "Solving an incomplete markets model with a large cross-section of agents," Journal of Economic Dynamics and Control, Elsevier, vol. 91(C), pages 349-368.

Articles

  1. Chien, YiLi & Wen, Yi, 2024. "The Ramsey steady-state conundrum in heterogeneous-agent economies," Journal of Economic Theory, Elsevier, vol. 220(C).
    See citations under working paper version above.
  2. YiLi Chien & Ashley Stewart, 2023. "Central Bank Balance Sheets and Policy Rate Decisions," The Regional Economist, Federal Reserve Bank of St. Louis, May.

    Cited by:

    1. Kim, Hyeonjun & Song, Gayoung & Ha, Yoonhee, 2025. "Green hydrogen export potential in each Southeast Asian country based on exportable volumes and levelized cost of hydrogen," Applied Energy, Elsevier, vol. 383(C).

  3. Chien, YiLi & Wen, Yi, 2022. "The determination of public debt under both aggregate and idiosyncratic uncertainty," Journal of Economic Theory, Elsevier, vol. 203(C).
    See citations under working paper version above.
  4. YiLi Chien & Yi Wen, 2022. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 46, pages 124-160, October.
    See citations under working paper version above.
  5. YiLi Chien & In-Koo Cho & B. Ravikumar, 2021. "Convergence to Rational Expectations in Learning Models: A Note of Caution," Review, Federal Reserve Bank of St. Louis, vol. 103(3), pages 351-366, July.
    See citations under working paper version above.
  6. Chen, Yunmin & Chien, YiLi & Wen, Yi & Yang, C.C., 2021. "Should capital be taxed?," Economics Letters, Elsevier, vol. 200(C).
    See citations under working paper version above.
  7. Chien, YiLi & Wen, Yi, 2021. "Time-inconsistent optimal quantity of debt," European Economic Review, Elsevier, vol. 140(C).
    See citations under working paper version above.
  8. Chien, YiLi & Lustig, Hanno & Naknoi, Kanda, 2020. "Why are exchange rates so smooth? A household finance explanation," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 129-144.
    See citations under working paper version above.
  9. YiLi Chien, 2020. "How Bad Can It Be? The Relationship between GDP Growth and the Unemployment Rate," Economic Synopses, Federal Reserve Bank of St. Louis, issue 16, April.

    Cited by:

    1. Tylor Orme & Harold L. Vogel, 2020. "Is the Motion-Pictures Industry Recession Proof?," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 26(4), pages 363-375, November.

  10. YiLi Chien & Qiuhan Sun, 2019. "Better than Ever? The Wealth of Retired Households," The Regional Economist, Federal Reserve Bank of St. Louis, vol. 27(2).

    Cited by:

    1. Debasree Das Gupta & David W. S. Wong, 2021. "How “Dependent” Are We? A Spatiotemporal Analysis of the Young and the Older Adult Populations in the US," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 40(6), pages 1221-1252, December.

  11. YiLi Chien & Paul Morris, 2018. "Accounting for Age: The Financial Health of Millennials," The Regional Economist, Federal Reserve Bank of St. Louis, vol. 26(2).

    Cited by:

    1. Christopher J. Kurz & Geng Li & Daniel J. Vine, 2018. "Are Millennials Different?," Finance and Economics Discussion Series 2018-080, Board of Governors of the Federal Reserve System (U.S.).
    2. Cwynar Andrzej, 2020. "Financial Literacy, Behaviour and Well-Being of Millennials in Poland Compared to Previous Generations: The Insights from Three Large-Scale Surveys," Review of Economic Perspectives, Sciendo, vol. 20(3), pages 289-335, September.

  12. YiLi Chien & Paul Morris, 2018. "Many Americans Still Lack Retirement Savings," The Regional Economist, Federal Reserve Bank of St. Louis, vol. 26(1).

    Cited by:

    1. Dina Tasneem & Marine de Montaignac & Jim Engle-Warnick & Audrey Azerot, 2018. "A Laboratory Study of Nudge with Retirement Savings," CIRANO Working Papers 2018s-23, CIRANO.
    2. M. Martin Boyer & Franca Glenzer, 2021. "Pensions, annuities, and long-term care insurance: on the impact of risk screening," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 46(2), pages 133-174, September.

  13. YiLi Chien & Paul Morris, 2017. "Household Participation in Stock Market Varies Widely by State," The Regional Economist, Federal Reserve Bank of St. Louis, vol. 25(3).

    Cited by:

    1. Balakina, Olga & Bäckman, Claes & Parakhoniak, Anastasiia, 2024. "Beyond connectivity: Stock market participation in a network," SAFE Working Paper Series 416, Leibniz Institute for Financial Research SAFE.

  14. YiLi Chien & Junsang Lee, 2016. "Optimal Ramsey Capital Taxation with Endogenous Government Spending," Review, Federal Reserve Bank of St. Louis, vol. 98(4), pages 311-327.

    Cited by:

    1. Juan Pablo Gama & Rodrigo J. Raad, 2023. "Large public expenditure shocks in a Ramsey taxation model with default," Textos para Discussão Cedeplar-UFMG 665, Cedeplar, Universidade Federal de Minas Gerais.

  15. Yili Chien & Harold Cole & Hanno Lustig, 2016. "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 215-239, April.

    Cited by:

    1. Guillaume Coqueret, 2017. "Empirical properties of a heterogeneous agent model in large dimensions," Post-Print hal-02312186, HAL.
    2. Curran, Michael & Dressler, Scott J., 2020. "Preferences, inflation, and welfare," European Economic Review, Elsevier, vol. 130(C).
    3. Coqueret, Guillaume, 2017. "Empirical properties of a heterogeneous agent model in large dimensions," Journal of Economic Dynamics and Control, Elsevier, vol. 77(C), pages 180-201.
    4. Guillaume Coqueret, 2016. "Empirical properties of a heterogeneous agent model in large dimensions," Post-Print hal-02088097, HAL.
    5. Veldkamp, Laura & Farboodi, Maryam, 2018. "Long Run Growth of Financial Data Technology," CEPR Discussion Papers 13278, C.E.P.R. Discussion Papers.
    6. Victoria Atanasov & Stig V. Møller & Richard Priestley, 2020. "Consumption Fluctuations and Expected Returns," Journal of Finance, American Finance Association, vol. 75(3), pages 1677-1713, June.
    7. Guillaume Coqueret, 2017. "Empirical properties of a heterogeneous agent model in large dimensions," Post-Print hal-02000726, HAL.
    8. Michael Patrick Curran & Scott J. Dressler, 2019. "Preference Heterogeneity, Inflation, and Welfare," Villanova School of Business Department of Economics and Statistics Working Paper Series 40, Villanova School of Business Department of Economics and Statistics.
    9. Gandré, Pauline, 2020. "US stock prices and recency-biased learning in the run-up to the Global Financial Crisis and its aftermath," Journal of International Money and Finance, Elsevier, vol. 104(C).
    10. Maryam Farboodi & Laura Veldkamp, 2018. "Long Run Growth of Financial Data Technology," Working Papers 18-09, New York University, Leonard N. Stern School of Business, Department of Economics.

  16. YiLi Chien & Paul Morris, 2016. "Unemployment by Industry: Duration Must Be Considered, Too," The Regional Economist, Federal Reserve Bank of St. Louis, issue Jan.

    Cited by:

    1. Hartmut Egger & Simone Habermeyer, 2022. "How preferences shape the welfare and employment effects of trade," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 158(3), pages 815-853, August.
    2. Hartmut Egger & Simone Habermeyer, 2020. "How Preferences Shape the Welfare and Employment Effects of Trade," Working Papers 188, Bavarian Graduate Program in Economics (BGPE).

  17. YiLi Chien & Paul Morris, 2016. "PMI and GDP: Do They Correlate for the United States? For China?," Economic Synopses, Federal Reserve Bank of St. Louis, issue 6, pages 1-2.

    Cited by:

    1. Gabe J. Bondt, 2019. "A PMI-Based Real GDP Tracker for the Euro Area," Journal of Business Cycle Research, Springer;Centre for International Research on Economic Tendency Surveys (CIRET), vol. 15(2), pages 147-170, December.
    2. SAHIN, Emrah & GUNGOR, Selim & KARACA, Suleyman Serdar, 2020. "Empirical Analysis Of The Relationship Between Purchasing Managers Index And Bist Industrial Index Under Structural Breaks," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 24(3), pages 6-22, September.
    3. Ruwan Jayathilaka & Rishani Rathnayake & Bhakthi Jayathilake & Thanuja Dharmasena & Dananja Bodinayake & Deumi Kathriarachchi, 2023. "Exploring the growth direction: the impact of exchange rate and purchasing managers index on economic growth in Sri Lanka," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(3), pages 2687-2703, June.
    4. Daniel Francois Meyer & Thomas Habanabakize, 2018. "Analysis of Relationships and Causality between Consumer Price Index (CPI), the Producer Price Index (PPI) and Purchasing Manager’s Index (PMI) in South Africa," Journal of Economics and Behavioral Studies, AMH International, vol. 10(6), pages 25-32.
    5. Radoslaw Sobko & Maria Klonowska-Matynia, 2021. "The Relationship between the Purchasing Managers’ Index (PMI) and Economic Growth: The Case for Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 198-219.
    6. Ginn, William, 2023. "The impact of economic policy uncertainty on stock prices," Economics Letters, Elsevier, vol. 233(C).

  18. Gabriele Camera & Yili Chien, 2016. "Two Monetary Models with Alternating Markets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(5), pages 1051-1064, August.
    See citations under working paper version above.
  19. Chien, YiLi & Naknoi, Kanda, 2015. "The risk premium and long-run global imbalances," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 299-315.
    See citations under working paper version above.
  20. Chien, YiLi & Song, Joon, 2014. "A Note On Using Excessive Perks To Restrain The Hidden Saving Problem," Macroeconomic Dynamics, Cambridge University Press, vol. 18(2), pages 480-496, March.

    Cited by:

    1. Maurizio Caserta & Livio Ferrante & Francesco Reito, 2020. "Who pays for workplace benefits?," Manchester School, University of Manchester, vol. 88(4), pages 556-574, July.
    2. Wang, Cheng, 1997. "Incentives, CEO Compensation and Shareholder Wealth in a Dynamic Agency Model," Staff General Research Papers Archive 5170, Iowa State University, Department of Economics.
    3. Ping Wang & Hua Bu & Huaping Sun, 2021. "The Impact of On-the-Job Consumption on the Sustainable Development of Enterprises," Sustainability, MDPI, vol. 13(23), pages 1-18, December.
    4. Francesc Dilmé & Daniel Garrett, 2022. "Relational Contracts: Public versus Private Savings," ECONtribute Discussion Papers Series 192, University of Bonn and University of Cologne, Germany.

  21. Gabriele Camera & Yili Chien, 2014. "Understanding the Distributional Impact of Long‐Run Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(6), pages 1137-1170, September.
    See citations under working paper version above.
  22. YiLi Chien & Harold Cole & Hanno Lustig, 2012. "Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Rebalancing?," American Economic Review, American Economic Association, vol. 102(6), pages 2859-2896, October.
    See citations under working paper version above.
  23. Yili Chien & Harold Cole & Hanno Lustig, 2011. "A Multiplier Approach to Understanding the Macro Implications of Household Finance," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(1), pages 199-234.
    See citations under working paper version above.
  24. YiLi Chien & Hanno Lustig, 2010. "The Market Price of Aggregate Risk and the Wealth Distribution," The Review of Financial Studies, Society for Financial Studies, vol. 23(4), pages 1596-1650, April.
    See citations under working paper version above.

Software components

  1. YiLi Chien & Yi Wen, 2021. "Code and data files for "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences"," Computer Codes 20-263, Review of Economic Dynamics.
    See citations under working paper version above.
  2. Yili Chien & Harold Cole & Hanno Lustig, 2015. "Code files for "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy"," Computer Codes 14-172, Review of Economic Dynamics.
    See citations under working paper version above.Sorry, no citations of software components recorded.
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