Eric R. Young

University of Virginia

1400 University Ave

Charlottesville, VA 22903

United States

SCHOLARLY PAPERS

43

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2,220

SSRN CITATIONS
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Top 2,696

in Total Papers Citations

345

CROSSREF CITATIONS

148

Scholarly Papers (43)

1.
Downloads 133 (141,571)
Citation 4

Optimal Policy for Macro-Financial Stability

Number of pages: 34 Posted: 11 Aug 2019 Last Revised: 20 Feb 2020
London School of Economics & Political Science (LSE) - Department of Economics, MarketShare Partners, University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 76 (381,586)
Citation 1

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Constrained efficiency, Financial crises, Macroprudential policies and capital controls, Pecuniary externalities, Ramsey optimal policy, Social planner

Optimal Policy for Macro-Financial Stability

FRB of St. Louis Working Paper No. 2012-041A
Number of pages: 49 Posted: 20 Oct 2012
London School of Economics & Political Science (LSE) - Department of Economics, MarketShare Partners, University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 34 (550,175)

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Capital Controls, Exchange Rate Policy, Financial Frictions, Financial Crises, Macro-Financial Stability, Macro-Prudential Policies

Optimal Policy for Macro-Financial Stability

FRB of New York Staff Report No. 899, October 2019
Number of pages: 26 Posted: 21 Oct 2019
London School of Economics & Political Science (LSE) - Department of Economics, Uber Technologies, Inc., University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 19 (650,942)

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constrained efficiency, financial crises, macroprudential policies and capital controls, pecuniary externalities, Ramsey optimal policy, social planner

Optimal Policy for Macro-Financial Stability

CEPR Discussion Paper No. DP9223
Number of pages: 41 Posted: 01 Feb 2013
London School of Economics & Political Science (LSE) - Department of Economics, MarketShare Partners, University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
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Bailouts, Capital Controls, Exchange Rate Policy, Financial Crises, Financial Frictions, Macro-Financial Stability, Macro-Prudential Policies

Optimal Policy for Macro-Financial Stability

NBER Working Paper No. w26397
Number of pages: 27 Posted: 30 Oct 2019 Last Revised: 15 Feb 2021
London School of Economics & Political Science (LSE) - Department of Economics, MarketShare Partners, University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 2 (793,802)
Citation 1
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2.

Forward Guidance and Credible Monetary Policy

Number of pages: 51 Posted: 06 Nov 2015 Last Revised: 27 Jan 2019
Bingbing Dong and Eric R. Young
Central University of Finance and Economics (CUFE) and University of Virginia
Downloads 150 (236,871)
Citation 4

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Forward Guidance, Zero Lower Bound, Credible Monetary Policy, Commitment, Reputation, Discretion

Bankruptcy and Delinquency in a Model of Unsecured Debt

FRB of St. Louis Working Paper No. 2012-042C
Number of pages: 52 Posted: 18 Oct 2012 Last Revised: 31 Jan 2014
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Cambridge - Judge Business School and University of Virginia
Downloads 61 (430,140)
Citation 7

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Consumer Debt, Bankruptcy, Default, Life cycle, Idiosyncratic risk

Bankruptcy and Delinquency in a Model of Unsecured Debt

FRB St. Louis Working Paper No. 2012-042
Number of pages: 74 Posted: 06 Oct 2015
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Cambridge - Judge Business School and University of Virginia
Downloads 45 (494,774)

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Consumer Debt, Bankruptcy, Default, Life cycle, Idiosyncratic risk

Bankruptcy and Delinquency in a Model of Unsecured Debt

FRB Richmond Working Paper No. 16-12
Number of pages: 59 Posted: 02 Dec 2016
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of St. Louis, City University of Hong Kong and University of Virginia
Downloads 38 (528,638)
Citation 1

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Bankruptcy and Delinquency in a Model of Unsecured Debt

International Economic Review, Vol. 59, Issue 2, pp. 593-623, 2018
Number of pages: 31 Posted: 22 May 2020
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of St. Louis, City University of Hong Kong and University of Virginia
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Citation 3
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4.

The Dynamics of the Racial Wealth Gap

FRB of Cleveland Working Paper No. 19-18, October 2019
Number of pages: 35 Posted: 11 Oct 2019
Dionissi Aliprantis, Daniel Carroll and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Banks - Federal Reserve Bank of Cleveland and University of Virginia
Downloads 131 (263,743)
Citation 3

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Racial Inequality, Wealth Dynamics

Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus

Number of pages: 42 Posted: 06 Apr 2019 Last Revised: 10 Feb 2020
University of Queensland, University of Virginia - Darden School of Business, University of California, Santa Barbara (UCSB) - Department of Economics and University of Virginia
Downloads 79 (373,037)
Citation 5

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interest rates, fiscal stimulus, household debt, inequality

Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus

FRB of Cleveland Working Paper 20-07
Number of pages: 45 Posted: 04 Mar 2020
University of Queensland, University of Virginia - Darden School of Business, University of California, Santa Barbara (UCSB) - Department of Economics and University of Virginia
Downloads 41 (513,707)
Citation 1

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interest rates, fiscal stimulus, household debt, inequality

6.
Downloads 6 (317,231)
Citation 85

Financial Crisis and Macro-Prudential Policies

CEPR Discussion Paper No. DP8175
Number of pages: 53 Posted: 18 Jan 2011
London School of Economics & Political Science (LSE) - Department of Economics, International Monetary Fund (IMF), University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 6 (756,769)
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Bailouts, Capital Controls, Crises, Financial Frictions, Macro Prudential Policies, Overborrowing

7.

Rational Inattention and Aggregate Fluctuations

Number of pages: 51 Posted: 01 Jun 2006 Last Revised: 10 Nov 2008
Yulei Luo and Eric R. Young
University of Hong Kong and University of Virginia
Downloads 97 (325,585)
Citation 9

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Rational Inattention, Consumption Volatility, Propagation Mechanism

8.

Why Aren't More Families Buying Life Insurance?

Center for Retirement Research at Boston College Working Paper No. 2011-7
Number of pages: 49 Posted: 07 Mar 2011
Matthew Chambers, Don Schlagenhauf and Eric R. Young
Towson University, Florida State University and University of Virginia
Downloads 95 (329,946)
Citation 3

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Life Insurance, Consumption-Savings Decisions, Incomplete Markets

9.
Downloads 87 (348,629)

A Model of Expenditure Shocks

Darden Business School Working Paper No. 3455745
Number of pages: 37 Posted: 27 Sep 2019 Last Revised: 06 Jan 2020
University of Queensland, University of Virginia - Darden School of Business, University of California, Santa Barbara (UCSB) - Department of Economics and University of Virginia
Downloads 70 (399,843)

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Consumption, Expenditure Shocks, Household Debt

A Model of Expenditure Shocks

FRB of Cleveland Working Paper No. 20-04
Number of pages: 47 Posted: 08 Feb 2020
University of Queensland, University of Virginia - Darden School of Business, University of California, Santa Barbara (UCSB) - Department of Economics and University of Virginia
Downloads 17 (666,307)

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10.

The Piketty Transition

FRB of Cleveland Working Paper No. 14-32
Number of pages: 48 Posted: 03 Dec 2014
Daniel Carroll and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Cleveland and University of Virginia
Downloads 75 (380,464)

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inequality, heterogeneity, zero-growth

11.

What Explains Neighborhood Sorting by Income and Race?

FRB of Cleveland Working Paper No. 18-08R
Number of pages: 41 Posted: 28 Jun 2018 Last Revised: 10 Oct 2019
Dionissi Aliprantis, Daniel Carroll and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Banks - Federal Reserve Bank of Cleveland and University of Virginia
Downloads 71 (392,085)

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Neighborhood, Income, Wealth, Race

A New Dilemma: Capital Controls and Monetary Policy in Sudden-Stop Economies

HKIMR Working Paper No.03/2016
Number of pages: 71 Posted: 10 Mar 2016
Michael B. Devereux, Eric R. Young and Changhua Yu
University of British Columbia (UBC) - Department of Economics, University of Virginia and Peking University
Downloads 55 (452,827)
Citation 5

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Sudden stops, Pecuniary externality, Monetary policy, Capital controls, Time-consistency

A New Dilemma: Capital Controls and Monetary Policy in Sudden Stop Economies

NBER Working Paper No. w21791
Number of pages: 67 Posted: 14 Dec 2015
Michael B. Devereux, Eric R. Young and Changhua Yu
University of British Columbia (UBC) - Department of Economics, University of Virginia and Peking University
Downloads 14 (690,142)
Citation 11

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13.

Asset Pricing Under Information-Processing Constraints

Number of pages: 12 Posted: 09 Nov 2008
Yulei Luo and Eric R. Young
University of Hong Kong and University of Virginia
Downloads 68 (401,273)

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Rational Inattention, Asset Pricing, Permanent Income

Capital Controls or Exchange Rate Policy? A Pecuniary Externality Perspective

FRB of St. Louis Working Paper No. 2012-025A
Number of pages: 27 Posted: 02 Aug 2012
London School of Economics & Political Science (LSE) - Department of Economics, University of Missouri, Johns Hopkins University - Carey Business School, University of Virginia and MarketShare Partners
Downloads 57 (445,097)
Citation 9

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Capital Controls, Exchange Rate Policy, Financial Frictions, Financial Crises, Financial Stability, Optimal Taxation, Prudential Policies, Planning Problem

Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective

NBER Working Paper No. w22224
Number of pages: 65 Posted: 09 May 2016 Last Revised: 24 Mar 2021
London School of Economics & Political Science (LSE) - Department of Economics, MarketShare Partners, University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 9 (731,550)
Citation 6

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Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective

CEPR Discussion Paper No. DP9936
Number of pages: 56 Posted: 02 Jun 2014
London School of Economics & Political Science (LSE) - Department of Economics, MarketShare Partners, University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
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Citation 32
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Capital Controls, Financial Crises, Financial Frictions, Macro-prudential policies, Pecuniary Externality, Real Exchange Rate

15.

Long Run Wealth Under Progressive Taxation: The Complete Markets Case

Number of pages: 26 Posted: 30 Jan 2007
Eric R. Young and Daniel Carroll
University of Virginia and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 64 (414,161)

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Heterogeneity, Complete Markets, Wealth Distribution, Progressive Taxation

Government Debt Limits and Stabilization Policy

Darden Business School Working Paper No. 3631178
Number of pages: 27 Posted: 14 Jul 2020 Last Revised: 30 Mar 2021
Daniel Murphy and Eric R. Young
University of Virginia - Darden School of Business and University of Virginia
Downloads 36 (539,131)

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government debt limits, zero lower bound, stabilization policy, inefficiency

Government Debt Limits and Stabilization Policy

FRB of Cleveland Working Paper No. 20-23
Number of pages: 27 Posted: 22 Sep 2020
Daniel Murphy and Eric R. Young
University of Virginia - Darden School of Business and University of Virginia
Downloads 26 (599,781)

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government debt limits, zero lower bound, stabilization policy, inefficiency

17.

Model Uncertainty, State Uncertainty, and State-Space Models

Federal Reserve Bank of Kansas City Working Paper No. 12-02
Number of pages: 25 Posted: 20 Apr 2012
Yulei Luo, Jun Nie and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City and University of Virginia
Downloads 59 (431,205)

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Robustness, Model Uncertainty, Rational Inattention, State Uncertainty, Signal

18.

Risk-Sensitive Consumption and Savings under Rational Inattention

Number of pages: 48 Posted: 09 Nov 2008
Yulei Luo and Eric R. Young
University of Hong Kong and University of Virginia
Downloads 56 (442,053)
Citation 12

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19.
Downloads 46 (481,195)
Citation 13

Revisiting Overborrowing and its Policy Implications

IDB Working Paper No. 60
Number of pages: 43 Posted: 21 Apr 2011
London School of Economics & Political Science (LSE) - Department of Economics, International Monetary Fund (IMF), University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 42 (508,882)
Citation 16

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Revisiting Overborrowing and its Policy Implications

CEPR Discussion Paper No. DP7872
Number of pages: 45 Posted: 19 Jul 2010
London School of Economics & Political Science (LSE) - Department of Economics, International Monetary Fund (IMF), University of Missouri, Johns Hopkins University - Carey Business School and University of Virginia
Downloads 4 (773,879)
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Bailouts, Financial Frictions, Macro Prudential Policies, Overborrowing

20.

Model Uncertainty and Intertemporal Tax Smoothing

Federal Reserve Bank of Kansas City Working Paper No. 12-01
Number of pages: 46 Posted: 20 Apr 2012 Last Revised: 11 Mar 2013
Yulei Luo, Jun Nie and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City and University of Virginia
Downloads 43 (494,264)
Citation 3

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Robustness, Model Uncertainty, Taxation Smoothing, Taxation Tilting

21.

Sticky Information Diffusion and the Inertial Behavior of Durable Consumption

Federal Reserve Bank of Kansas City Working Paper No. RWP 12-11
Number of pages: 38 Posted: 08 Mar 2013
Yulei Luo, Jun Nie and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City and University of Virginia
Downloads 42 (498,701)
Citation 2

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Durability, Slow Learning, Sticky Information Diffusion, Infrequent Adjustments

22.

Loan Guarantees for Consumer Credit Markets

FRB Richmond Working Paper No. 11-06
Number of pages: 61 Posted: 18 Dec 2012
Kartik Athreya, Xuan S. Tam and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Richmond, City University of Hong Kong and University of Virginia
Downloads 38 (517,182)
Citation 1

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bankruptcy, unsecured credit, loan guarantees

23.

The Politics of Flat Taxes

FRB of Cleveland Working Paper No. 14-42R
Number of pages: 56 Posted: 11 Jan 2015 Last Revised: 10 Oct 2019
Daniel Carroll, Jim Dolmas and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Banks - Federal Reserve Bank of Dallas and University of Virginia
Downloads 37 (522,026)

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Political Economy, Essential Set, Voting, Inequality, Incomplete Markets

24.

Rational Inattention and Dynamics of Consumption and Wealth in General Equilibrium

Federal Reserve Bank of Kansas City Working Paper No. 14-14
Number of pages: 51 Posted: 23 May 2016
Yulei Luo, Jun Nie, Gaowang Wang and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City, Shandong University and University of Virginia
Downloads 35 (532,097)
Citation 11

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Rational Inattention; Permanent Income Hypothesis; General Equilibrium; Con-sumption and Wealth Volatility.

25.

Sticky Information Diffusion and the Inertial Behavior of Durables Consumption

Number of pages: 41 Posted: 19 Jul 2010
Yulei Luo and Eric R. Young
University of Hong Kong and University of Virginia
Downloads 34 (537,207)
Citation 2

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Durability, Rational Inattention, Infrequent Adjustments, Consumption Stickiness

26.

The Long Run Effects of Changes in Tax Progressivity

FRB of Cleveland Working Paper No. 09-13
Number of pages: 45 Posted: 24 Apr 2010 Last Revised: 28 Aug 2010
Daniel Carroll and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Cleveland and University of Virginia
Downloads 33 (542,505)
Citation 2

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heterogeneity, progressive taxation, complete markets

27.

Robustness, Information-Processing Constraints, and the Current Account in Small Open Economies

Number of pages: 51 Posted: 19 Jul 2010
Yulei Luo, Jun Nie and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City and University of Virginia
Downloads 31 (553,136)
Citation 7

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Robustness, Rational Inattention, Consumption Smoothing, Current Account, Detection Error Probabilities

28.

What We Don't Know Doesn't Hurt Us: Rational Inattention and the Permanent Income Hypothesis in General Equilibrium

Federal Reserve Bank of Kansas City Working Paper No. 14-14
Number of pages: 43 Posted: 28 Nov 2014
Jun Nie, Yulei Luo, Gaowang Wang and Eric R. Young
Federal Reserve Bank of Kansas City, University of Hong Kong, Shandong University and University of Virginia
Downloads 30 (558,719)

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Rational Inattention, Permanent Income Hypothesis, General Equilibrium, Consumption and Income Volatility

29.

Flexibility and Frictions in Multisector Models

CAMA Working Paper No. 24/2018
Number of pages: 45 Posted: 29 May 2018
Jorge Miranda-Pinto and Eric R. Young
University of Queensland and University of Virginia
Downloads 27 (576,599)
Citation 5

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30.

A Note on Sunspots with Heterogeneous Agents

FRB of Cleveland Working Paper No. 09-06
Number of pages: 23 Posted: 24 Apr 2010 Last Revised: 28 Aug 2010
Daniel Carroll and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Cleveland and University of Virginia
Downloads 27 (576,599)

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Heterogeneity, Sunspots

31.

Are Harsh Penalties for Default Really Better?

FRB Richmond Working Paper No. 09-11
Number of pages: 61 Posted: 12 Dec 2012
Kartik Athreya, Xuan S. Tam and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Richmond, City University of Hong Kong and University of Virginia
Downloads 26 (582,847)
Citation 9

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unsecured credit, penalties, bankruptcy

32.

A Quantitative Theory of Information and Unsecured Credit (Revised July 2011)

FRB Richmond Working Paper No. 08-06R
Number of pages: 66 Posted: 11 Dec 2012
Kartik Athreya, Xuan S. Tam and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Richmond, City University of Hong Kong and University of Virginia
Downloads 25 (589,193)
Citation 20

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unsecured credit, asymmetric information, bankruptcy

33.

Labor Market Upheaval, Default Regulations, and Consumer Debt

FRB of St. Louis Working Paper No. 2014-002B
Number of pages: 41 Posted: 07 Feb 2014 Last Revised: 20 Aug 2014
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of St. Louis, City University of Hong Kong and University of Virginia
Downloads 24 (595,779)
Citation 18

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Delinquency, Personal Bankruptcy, Unsecured Debt, Job Separation, Job Finding

34.

Robust Control, Information Frictions, and International Consumption Correlations

Number of pages: 48 Posted: 09 Jan 2011 Last Revised: 11 Mar 2013
Jun Nie, Eric R. Young and Yulei Luo
Federal Reserve Bank of Kansas City, University of Virginia and University of Hong Kong
Downloads 23 (602,361)

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Robustness, Rational Inattention, Risk Sharing, International Consumption Correlations

35.

The Inside Baseball of Sudden Stop Models

Number of pages: 41 Posted: 20 Jun 2019 Last Revised: 14 Sep 2020
Bingbing Dong, Jieran Wu and Eric R. Young
Central University of Finance and Economics (CUFE), Zhejiang University - College of Economics and University of Virginia
Downloads 22 (609,170)

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sudden stops, collateral constraint, Fisherian deflation, growth

36.

Mobility

FRB of Cleveland Working Paper No. 16-34
Number of pages: 51 Posted: 27 Dec 2016
Daniel Carroll and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Cleveland and University of Virginia
Downloads 22 (609,170)

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Wealth Mobility, Inequality, Incomplete Markets

37.

Robust Permanent Income in General Equilibrium

Federal Reserve Bank of Kansas City Working Paper No. 15-14
Number of pages: 44 Posted: 22 Nov 2015
Jun Nie, Yulei Luo and Eric R. Young
Federal Reserve Bank of Kansas City, University of Hong Kong and University of Virginia
Downloads 21 (615,848)
Citation 1

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Robustness, Precautionary Savings, the Permanent Income Hypothesis, Low Interest Rates, Consumption and Income Inequality, General Equilibrium

Robust Control, Informational Frictions, and International Consumption Correlations

Number of pages: 41 Posted: 19 Jul 2010
Yulei Luo, Jun Nie and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City and University of Virginia
Downloads 15 (682,106)
Citation 3

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Robust Control, Informational Frictions, and International Consumption Correlations

HKIMR Working Paper No.21/2013
Number of pages: 40 Posted: 27 Nov 2013
Yulei Luo, Jun Nie and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City and University of Virginia
Downloads 6 (756,769)
Citation 1

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Robustness, Imperfect State Observation, International Consumption Correlations

39.

Growth and Welfare Gains from Financial Integration Under Model Uncertainty

Federal Reserve Bank of Kansas City Working Paper No. 18-12
Number of pages: 48 Posted: 12 Dec 2018
Yulei Luo, Jun Nie and Eric R. Young
University of Hong Kong, Federal Reserve Bank of Kansas City and University of Virginia
Downloads 16 (650,532)
Citation 1

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Robustness, Model Uncertainty, Financial Integration, Risk Sharing, Economic Growth, Welfare

40.

Debt Default and the Insurance of Labor Income Risk

FRB Economic Quarterly, Vol. 98, No. 4, Fourth Quarter 2012, pp. 255-307
Number of pages: 53 Posted: 15 Aug 2013
Kartik Athreya, Xuan S. Tam and Eric R. Young
Federal Reserve Banks - Federal Reserve Bank of Richmond, City University of Hong Kong and University of Virginia
Downloads 16 (650,532)

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41.

The Stock Market Response to a "Regulatory Sine Curve"

FRB International Finance Discussion Paper No. 1299
Number of pages: 48 Posted: 28 Sep 2020
Bo Sun, Xuan S. Tam and Eric R. Young
Board of Governors of the Federal Reserve System, City University of Hong Kong and University of Virginia
Downloads 14 (665,226)

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Cyclical financial regulation, Stock crash risk, Gradual boom and sudden crash

42.

Robustness, Infomation-Processing Constraints, and the Current Account in Small Open Economies

Number of pages: 52 Posted: 08 Jan 2011
Jun Nie, Eric R. Young and Yulei Luo
Federal Reserve Bank of Kansas City, University of Virginia and University of Hong Kong
Downloads 14 (665,226)

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Robustness, Rational Inattention, Consumption Smoothing, Current Account, Detection Error, Probabilities

43.

Signal Extraction and Rational Inattention

Economic Inquiry, Vol. 52, Issue 2, pp. 811-829, 2014
Number of pages: 19 Posted: 26 Feb 2014
Yulei Luo and Eric R. Young
University of Hong Kong and University of Virginia
Downloads 0 (788,205)
Citation 2
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