Borys Grochulski

Federal Reserve Banks - Federal Reserve Bank of Richmond

Economist

P.O. Box 27622

Richmond, VA 23261

United States

http://www.richmondfed.org/research/economists/bios/grochulski_bio.cfm

SCHOLARLY PAPERS

19

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SSRN CITATIONS
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10

CROSSREF CITATIONS

44

Scholarly Papers (19)

Risky Human Capital and Deferred Capital Income Taxation

Journal of Economic Theory, Vol. 145, No. 3, pp. 908-943, 2010
Number of pages: 36 Posted: 27 Oct 2011
Borys Grochulski and Tomasz Piskorski
Federal Reserve Banks - Federal Reserve Bank of Richmond and Columbia Business School - Finance and Economics
Downloads 210 (152,392)
Citation 4

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Risky Human Capital and Deferred Capital Income Taxation

FRB Richmond Working Paper No. 06-13
Number of pages: 66 Posted: 07 Dec 2012
Borys Grochulski and Tomasz Piskorski
Federal Reserve Banks - Federal Reserve Bank of Richmond and Columbia Business School - Finance and Economics
Downloads 151 (204,919)
Citation 8

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optimal taxation, private information, human capital, deferred tax

2.

Optimal Wealth Taxes with Risky Human Capital

FRB Richmond Working Paper No. 05-13
Number of pages: 46 Posted: 06 Dec 2012
Borys Grochulski and Tomasz Piskorski
Federal Reserve Banks - Federal Reserve Bank of Richmond and Columbia Business School - Finance and Economics
Downloads 204 (156,913)
Citation 2

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optimal taxation, human capital, Mirrlees approach

3.

Optimal Liquidity Regulation with Shadow Banking

FRB Richmond Working Paper No. 15-12R
Number of pages: 51 Posted: 14 Nov 2017
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 112 (257,466)

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4.

Optimal Contracts with Reflection

FRB Richmond Working Paper No. 16-14
Posted: 02 Dec 2016 Last Revised: 22 Dec 2017
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 88 (302,356)

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dynamic moral hazard, quitting, random search, reflective dynamics, ODE splicing, sticky Brownian motion, fast reflection, instantaneous control

5.
Downloads 46 (421,982)
Citation 1

Market-based Incentives

FRB Richmond Working Paper No. 13-05R
Number of pages: 64 Posted: 14 May 2013 Last Revised: 19 Dec 2013
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 46 (429,870)
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Market‐Based Incentives

International Economic Review, Vol. 58, Issue 2, pp. 331-382, 2017
Number of pages: 52 Posted: 30 May 2017
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
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6.

Optimal Personal Bankruptcy Design: A Mirrlees Approach

FRB Richmond Working Paper No. 08-05
Number of pages: 44 Posted: 11 Dec 2012
Borys Grochulski
Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 43 (433,451)
Citation 2

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bankruptcy, unsecured credit, moral hazard

7.

Optimal Nonlinear Income Taxation with Costly Tax Avoidance

FRB Richmond Economic Quarterly, vol. 93, no. 1, Winter 2007, pp. 77-109
Number of pages: 33 Posted: 09 Dec 2012
Borys Grochulski
Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 32 (480,654)

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8.

Contingent Debt and Performance Pricing in an Optimal Capital Structure Model with Financial Distress and Reorganization

FRB Richmond Working Paper No. 18-17
Number of pages: 27 Posted: 27 Nov 2018 Last Revised: 09 Mar 2019
Borys Grochulski and Russell Wong
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 30 (490,512)

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capital structure, contingent debt, performance pricing, monitoring costs, agency costs, dynamic incentives, liquidation, nancial restructuring, bankruptcy reorganization, search frictions, CEO compensation, CEO replacement

9.

Borrowing Constraint as an Optimal Contract

Number of pages: 40 Posted: 03 Jun 2010 Last Revised: 06 Jun 2010
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 30 (490,512)

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10.

Cyclical Properties of Bank Margins: Small Versus Large Banks

Economic Quarterly, Issue 1Q, pp. 1-33, 2018
Number of pages: 33 Posted: 24 Aug 2018 Last Revised: 21 Feb 2019
Borys Grochulski, Daniel Schwam and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 23 (529,416)

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NIM, net interest margin, banking

11.

Nonseparable Preferences and Optimal Social Security Systems

NBER Working Paper No. w13362
Number of pages: 40 Posted: 10 Sep 2007 Last Revised: 07 Jul 2010
Borys Grochulski and Narayana Kocherlakota
Federal Reserve Banks - Federal Reserve Bank of Richmond and University of Minnesota - Twin Cities - Department of Economics
Downloads 23 (529,416)

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12.

Financial Firm Resolution Policy as a Time-Consistency Problem

FRB Richmond Economic Quarterly, vol. 97, no. 2, Second Quarter 2011, pp. 133-152
Number of pages: 20 Posted: 19 Dec 2012
Borys Grochulski
Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 20 (547,546)

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13.

Distortionary Taxation for Efficient Redistribution

FRB Richmond Economic Quarterly, Vol. 95, No. 3, Summer 2009, pp. 235-267
Number of pages: 33 Posted: 13 Dec 2012
Borys Grochulski
Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 17 (566,243)

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14.

Saving for Retirement with Job Loss Risk

FRB Economic Quarterly, Vol. 99, No. 1, First Quarter 2013, pp. 45-81
Number of pages: 37 Posted: 22 Dec 2013
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 16 (572,406)
Citation 1

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15.

On the Optimality of Ramsey Taxes in Mirrlees Economies

FRB Richmond Working Paper No. 10-14
Number of pages: 20 Posted: 16 Dec 2012
Borys Grochulski
Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 15 (578,734)

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optimal taxation, personal bankruptcy, intertemporal wedges

16.

Optimal Incentive Contracts with Job Destruction Risk

FRB Richmond Working Paper No. 17-11
Posted: 13 Oct 2017 Last Revised: 09 Nov 2017
Borys Grochulski, Russell Wong and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 14 (585,292)

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dynamic moral hazard, job destruction, jump risk

17.

Optimal Contracts for Housing Services Purchases

FRB Richmond Economic Quarterly, vol. 97, no. 1, First Quarter 2011, pp. 67-93
Number of pages: 16 Posted: 19 Dec 2012
Borys Grochulski
Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 13 (591,814)

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18.

Limits to Redistribution and Intertemporal Wedges: Implications of Pareto Optimality with Private Information

FRB Richmond Economic Quarterly, Vol. 94, No. 2, Spring 2008, pp. 173-196
Number of pages: 24 Posted: 11 Dec 2012
Borys Grochulski
Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 13 (591,814)

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19.

Wealth Effects with Endogenous Retirement

Economic Quarterly, Issue 3Q, pp. 173-200, 2019
Number of pages: 28 Posted: 22 Oct 2019
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 3 (661,068)

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wealth effect, consumption-saving, retirement