YiLi Chien

Federal Reserve Banks - Federal Reserve Bank of St. Louis

411 Locust St

Saint Louis, MO 63011

United States

  • Federal Reserve Banks - Federal Reserve Bank of St. Louis

SCHOLARLY PAPERS

28

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42

CROSSREF CITATIONS

85

Scholarly Papers (28)

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1.

Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Re-Balancing?

Downloads 749 ( 32,858)
Citation 9

Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Re-Balancing?

American Economic Review, Vol. 102, No. 6, 2012
Number of pages: 53 Posted: 16 Sep 2009 Last Revised: 11 May 2015
YiLi Chien, Harold L. Cole and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics and Stanford Graduate School of Business
Downloads 534 (50,813)
Citation 1

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Asset Pricing, Household Finance, Risk Sharing, Limited Participation

Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Re-Balancing?

American Economic Review, Forthcoming
Number of pages: 66 Posted: 18 Feb 2010 Last Revised: 15 Jul 2014
YiLi Chien, Harold L. Cole and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics and Stanford Graduate School of Business
Downloads 215 (142,682)
Citation 10

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Portfolio Rebalancing

2.

A Multiplier Approach to Understanding the Macro Implications of Household Finance

Review of Economic Studies (2011), 78(1)
Number of pages: 44 Posted: 18 Mar 2008 Last Revised: 27 Aug 2012
YiLi Chien, Harold L. Cole and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics and Stanford Graduate School of Business
Downloads 472 (60,108)
Citation 2

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Asset Pricing, Risk Sharing, Limited Participation

3.

The Market Price of Aggregate Risk and the Wealth Distribution

Downloads 345 ( 87,123)
Citation 31

The Market Price of Aggregate Risk and the Wealth Distribution

Review of Financial Studies (2010), 23(4)
Number of pages: 62 Posted: 16 Nov 2001 Last Revised: 27 Aug 2012
YiLi Chien and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Stanford Graduate School of Business
Downloads 257 (119,221)
Citation 10

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Asset Pricing, Wealth Heterogeneity, Limited Commitment

The Market Price of Aggregate Risk and the Wealth Distribution

NBER Working Paper No. w11132
Number of pages: 63 Posted: 14 Mar 2005
Hanno N. Lustig and YiLi Chien
Stanford Graduate School of Business and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 88 (292,686)
Citation 2

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4.

Why are Exchange Rates so Smooth? A Household Finance Explanation

FRB St. Louis Working Paper No. 2015-39
Number of pages: 37 Posted: 01 Dec 2015 Last Revised: 21 Feb 2019
YiLi Chien, Hanno N. Lustig and Kanda Naknoi
Federal Reserve Banks - Federal Reserve Bank of St. Louis, Stanford Graduate School of Business and University of Connecticut
Downloads 161 (185,710)
Citation 1

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Asset pricing, Market segmentation, Exchange rates, International risk sharing

5.

Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy

Downloads 70 (332,117)
Citation 2

Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy

Number of pages: 45 Posted: 07 May 2014 Last Revised: 15 Jul 2014
YiLi Chien, Harold L. Cole and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics and Stanford Graduate School of Business
Downloads 47 (409,203)

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asset pricing, equilibrium survival, heterogeneous beliefs, heterogeneous preferences

Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy

FRB of St. Louis Working Paper No. 2014-014A
Number of pages: 46 Posted: 16 Jul 2014
YiLi Chien, Harold L. Cole and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics and Stanford Graduate School of Business
Downloads 15 (577,482)

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asset pricing, equilibrium survival, heterogeneous beliefs, heterogeneous preferences

Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy

NBER Working Paper No. w20328
Number of pages: 47 Posted: 28 Jul 2014
YiLi Chien, Harold L. Cole and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics and Stanford Graduate School of Business
Downloads 8 (626,392)

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6.

The Risk Premium and Long-Run Global Imbalances

Downloads 68 (337,280)
Citation 2

The Risk Premium and Long-Run Global Imbalances

Number of pages: 50 Posted: 28 Oct 2011 Last Revised: 08 Feb 2012
YiLi Chien and Kanda Naknoi
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Purdue University - Department of Economics
Downloads 42 (428,801)
Citation 1

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Global Imbalances, External Account, Risk Premium, Asset Pricing, Limited Participation

The Risk Premium and Long-Run Global Imbalances

Federal Reserve Bank of St. Louis Working Paper No. 2012-009B
Number of pages: 49 Posted: 12 Apr 2012 Last Revised: 28 Nov 2012
YiLi Chien and Kanda Naknoi
Federal Reserve Banks - Federal Reserve Bank of St. Louis and University of Connecticut
Downloads 26 (506,600)
Citation 1

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Global Imbalances, Current Account, Risk Premium, Asset Pricing, Limited Participation

7.

Two Monetary Models with Alternating Markets

Downloads 67 (340,000)

Two Monetary Models with Alternating Markets

SAFE Working Paper No. 33
Number of pages: 28 Posted: 15 Oct 2013 Last Revised: 04 Nov 2013
Gabriele Camera and YiLi Chien
Chapman University - Economic Science Institute and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 46 (413,068)

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cash-in-advance, matching, microfoundations, money, inflation

Two Monetary Models with Alternating Markets

FRB of St. Louis Working Paper No. 2013-009E
Number of pages: 37 Posted: 28 Feb 2013 Last Revised: 19 Feb 2014
Gabriele Camera and YiLi Chien
Chapman University - Economic Science Institute and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 21 (538,193)

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cash-in-advance model, matching, microfoundations, inflation

8.

Why Tax Capital?

Number of pages: 26 Posted: 19 Mar 2008
Junsang Lee and YiLi Chien
affiliation not provided to SSRN and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 60 (359,722)

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Capital taxation, Ramsey problem, Limited commitment, Private information

9.

Excessive Perks to Restrain the Hidden Saving Problem

Number of pages: 26 Posted: 04 Jan 2012
YiLi Chien and Joon Song
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Sungkyunkwan University - Department of Economics
Downloads 47 (401,886)

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10.

Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited

FRB St. Louis Working Paper No. 2017-3
Number of pages: 54 Posted: 16 Feb 2017 Last Revised: 22 Feb 2019
Yunmin Chen, YiLi Chien and C.C. Yang
Academia Sinica - Institute of Economics, Federal Reserve Banks - Federal Reserve Bank of St. Louis and Academia Sinica - Institute of Economics
Downloads 31 (466,518)

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Capital Taxation, Modified Golden Rule, Ramsey Problem, Incomplete Markets

11.

Externality Cost of Capital Investment in Limited Commitment

KDI Journal of Economic Policy 2012, 34(2) 17-40
Number of pages: 25 Posted: 04 May 2016
YiLi Chien and Junsang Lee
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Korea Development Institute (KDI)
Downloads 26 (492,018)

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Capital Investment, Capital Taxation, Limited Commitment

12.

Optimal Ramsey Capital Taxation with Endogenous Government Spending

Review, Vol. 98, Issue 4, pp. 311-327, 2016
Number of pages: 18 Posted: 07 Dec 2016 Last Revised: 17 Jul 2019
YiLi Chien and Junsang Lee
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Sungkyunkwan University - Department of Economics
Downloads 23 (508,782)

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13.

Pmi and GDP: Do They Correlate for the United States? For China?

Economic Synopses, Issue 6, pp. 1-2, 2016
Number of pages: 2 Posted: 31 Mar 2016 Last Revised: 04 May 2018
YiLi Chien and Paul Morris
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 23 (508,782)

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14.

Understanding the Distributional Impact of Long-Run Inflation

FRB of St. Louis Working Paper No. 2012-058B
Number of pages: 44 Posted: 29 Nov 2012 Last Revised: 25 May 2013
Gabriele Camera and YiLi Chien
Chapman University - Economic Science Institute and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 23 (508,782)

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Money, Heterogeneity, Wealth Inequality, Consumption Inequality

15.

The Cost of Business Cycles with Heterogeneous Trading Technologies

Downloads 23 (508,782)

The Cost of Business Cycles with Heterogeneous Trading Technologies

Number of pages: 26 Posted: 04 Jan 2012
YiLi Chien
Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 14 (584,392)

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The Cost of Business Cycles with Heterogeneous Trading Technologies

FRB of St. Louis Working Paper No. 2014-015A
Number of pages: 25 Posted: 16 Jul 2014
YiLi Chien
Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 9 (619,316)

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Asset Pricing, Cost of Business Cycles, Heterogeneous Agents

16.

A Multiplier Approach to Understanding the Macro Implications of Household Finance

NBER Working Paper No. w13555
Number of pages: 45 Posted: 05 Nov 2007 Last Revised: 17 Jul 2010
YiLi Chien, Hanno N. Lustig and Harold L. Cole
Federal Reserve Banks - Federal Reserve Bank of St. Louis, Stanford Graduate School of Business and University of Pennsylvania - Department of Economics
Downloads 23 (508,782)
Citation 1

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17.

Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Re-Balancing?

NBER Working Paper No. w15382
Number of pages: 54 Posted: 28 Sep 2009 Last Revised: 14 Jul 2010
YiLi Chien, Harold L. Cole and Hanno N. Lustig
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics and Stanford Graduate School of Business
Downloads 21 (520,608)

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18.

Optimal Ramsey Capital Income Taxation —A Reappraisal

FRB St. Louis Working Paper No. 2017-24
Number of pages: 39 Posted: 07 Sep 2017 Last Revised: 05 Jan 2019
YiLi Chien and Yi Wen
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Bank of St. Louis - Research Department
Downloads 18 (538,278)

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Optimal Capital Taxation, Ramsey Problem, Incomplete Market

19.

The Welfare Cost of Business Cycles with Heterogeneous Trading Technologies

Review, Vol. 97, Issue 1, pp. 67-85, 2015
Number of pages: 20 Posted: 19 Aug 2015 Last Revised: 24 Jul 2019
YiLi Chien
Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 18 (538,278)

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20.

Individual and Aggregate Constrained Efficient Intertemporal Wedges in Dynamic Mirrleesian Economies

FRB St. Louis Working Paper No. 2015-43
Number of pages: 46 Posted: 27 Apr 2016 Last Revised: 03 Jan 2019
Yunmin Chen, YiLi Chien and C.C. Yang
Academia Sinica - Institute of Economics, Federal Reserve Banks - Federal Reserve Bank of St. Louis and Academia Sinica - Institute of Economics
Downloads 12 (574,699)

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Intertemporal wedges, Nonnegative martingale, Inverse Euler equation, Immiseration

21.

Does a Stronger Dollar Erode the Profitability of U.S. Firms?

Economic Synopses, Issue 27, pp. 1-2, 2016
Number of pages: 2 Posted: 12 Jan 2017 Last Revised: 03 May 2018
YiLi Chien and Paul Morris
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 11 (580,984)

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22.

The Heterogeneous Impacts of Rising Inflation

Economic Synopses, Issue 21, pp. 1-2, 2016
Number of pages: 2 Posted: 02 Nov 2016
YiLi Chien and Paul Morris
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 11 (580,984)

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23.

The Real Term Premium in a Stationary Economy with Segmented Asset Markets

FRB St. Louis Working Paper No. 2018-30
Number of pages: 27 Posted: 25 Oct 2018 Last Revised: 21 Feb 2019
YiLi Chien and Junsang Lee
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Sungkyunkwan University - Department of Economics
Downloads 9 (593,873)

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Limited Participation, Term Premia, Portfolio Heterogeneity, Household Finance

24.

Filling the Tank on Fridays May Be a Bad Idea for St. Louisans

Economic Synopses, Issue 8, pp. 1-2, 2016
Number of pages: 2 Posted: 05 May 2016 Last Revised: 04 May 2018
YiLi Chien and Paul Morris
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 9 (593,873)

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25.

Lagging Long-Term Wage Growth

Economic Synopses, Issue 14, 2015
Number of pages: 2 Posted: 19 Aug 2015 Last Revised: 04 May 2018
YiLi Chien and Maria Arias
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 9 (593,873)

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26.

Don’t Tax Capital — Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences

FRB St. Louis Working Paper No. 2019-7
Number of pages: 72 Posted: 25 Feb 2019
YiLi Chien and Yi Wen
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Bank of St. Louis - Research Department
Downloads 6 (613,639)

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Optimal Capital Taxation, Ramsey Problem, Incomplete Markets

27.

The Rising Federal Funds Rate in the Current Low Long-Term Interest Rate Environment

Economic Synopses, Issue 10, pp. 1-2, 2017
Number of pages: 2 Posted: 06 Jul 2017 Last Revised: 03 May 2018
YiLi Chien and Paul Morris
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 5 (620,313)

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28.

State Variation of Tax Deductions

Economic Synopses, Issue 12, pp. 1-2, 2017
Number of pages: 2 Posted: 07 Sep 2017 Last Revised: 03 May 2018
YiLi Chien and Paul Morris
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 2 (644,842)

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