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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Top 17,726

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14

CROSSREF CITATIONS

46

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 University - Columbia Business School, Finance
Downloads 212 (198,172)
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 University - Columbia Business School, Finance
Downloads 154 (262,401)
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 University - Columbia Business School, Finance
Downloads 206 (203,766)
Citation 3

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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 136 (288,845)
Citation 1

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4.

Optimal Contracts with Reflection

FRB Richmond Working Paper No. 16-14
Number of pages: 39 Posted: 02 Dec 2016 Last Revised: 29 Apr 2020
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 102 (354,357)

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

5.

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: 29 Apr 2020
Borys Grochulski and Russell Wong
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 85 (396,951)

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

6.
Downloads 53 (506,521)
Citation 2

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 53 (515,082)
Citation 2

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Marketā€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
Downloads 0
Citation 1

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7.

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 47 (532,894)
Citation 3

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bankruptcy, unsecured credit, moral hazard

8.

Cyclical Properties of Bank Margins: Small Versus Large Banks

Number of pages: 33 Posted: 24 Aug 2018 Last Revised: 29 Apr 2020
Borys Grochulski, Daniel Schwam and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond, RAND Corporation and Texas A&M University
Downloads 45 (542,197)

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net interest margins, NIM, banking

9.

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 34 (599,254)
Citation 1

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10.

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 33 (605,201)

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11.

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 30 (623,371)

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dynamic moral hazard, job destruction, jump risk

12.

Nonseparable Preferences and Optimal Social Security Systems

NBER Working Paper No. w13362
Number of pages: 40 Posted: 10 Sep 2007 Last Revised: 05 Jan 2022
Borys Grochulski and Narayana Kocherlakota
Federal Reserve Banks - Federal Reserve Bank of Richmond and University of Minnesota - Twin Cities - Department of Economics
Downloads 27 (642,832)
Citation 1

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13.

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 22 (678,784)
Citation 1

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14.

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 21 (686,307)

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15.

Wealth Effects with Endogenous Retirement

Number of pages: 28 Posted: 22 Oct 2019 Last Revised: 29 Apr 2020
Borys Grochulski and Yuzhe Zhang
Federal Reserve Banks - Federal Reserve Bank of Richmond and Texas A&M University
Downloads 20 (693,851)

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consumption-saving, retirement, wealth effects

16.

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 19 (701,607)

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17.

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 18 (709,531)

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optimal taxation, personal bankruptcy, intertemporal wedges

18.

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 (751,832)

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19.

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 (751,832)

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