Yi Wen

Standard Vita

Expanded Vita

IDEAS

Education

Ph.D. Economics
University of Iowa
1996

M.A. Philosophy of Science
Notre Dame University
Southbend, Indiana
1991

B.S. Medical Sciences
West China University of Medical Sciences
1987

Contact Info

Phone: (314) 444-8559
Fax: (314) 444-8731
Email: Yi.Wen@stls.frb.org

Research Division
Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, MO 63166-0442

For media inquiries contact:
Laura Girresch
mediainquiries@stls.frb.org
Office: (314) 444-6166
Cell: (314) 348-3639

Yi Wen

Assistant Vice President

Published Papers

"What Inventories Tell Us about Aggregate Fluctuations -- A Tractable Approach to (S,s) Policies"
with Pengfei Wang and Zhiwei Xu
FORTHCOMING: Journal of Economic Dynamics and Control.

"Leveraged Borrowing and Boom-Bust Cycles"
with Patrick A. Pintus
FORTHCOMING: Review of Economic Dynamics.

"Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment Costs"
with Pengfei Wang
Review of Economic Dynamics, September 2012, 15(2), pp. 207-225.

"Speculative Bubbles and Financial Crisis"
with Pengfei Wang
American Economic Journal: Macroeconomics, July 2012, 4(3), pp. 184-221.

"Housing Prices and the High Chinese Saving Rate Puzzle"
with Xin Wang
China economic review, June 2012, 23(2), pp. 265-283.

"OPEC’s Oil Exporting Strategy and Macroeconomic (In)Stability"
with Luís Aguiar-Conraria
Energy Economics, January 2012, 34(1), pp. 132-36.

"Understanding the effects of technology shocks"
with Pengfei Wang
Review of Economic Dynamics, October 2011, 14(4), pp. 705-24.

"Input and Output Inventory Dynamics"
American Economic Journal: Macroeconomics, October 2011, 3(4), pp. 1-33.

"Volatility, growth, and welfare"
with Pengfei Wang
Journal of Economic Dynamics and Control, May 2011.

"Global Indeterminacy in Locally Determinate RBC Models"
with Tarek Coury
International Journal of Economic Theory, March 2009, 5(1), pp. 49-60.

"A Note on Oil Dependence and Economic Instability"
with Luís Aguiar-Conraria
Macroeconomic Dynamics, November 2008, 12(5), pp. 717-23.

"Imperfect Competition and Indeterminacy of Aggregate Output"
with Pengfei Wang
Journal of Economic Theory, November 2008, 143(1), pp. 519-40.

"Inflation Dynamics: A Cross-Country Investigation"
with Pengfei Wang
Journal of Monetary Economics, October 2007, 54(7), pp. 2004-31.

"Understanding the Large Negative Impact of Oil Shocks"
with Luís Aguiar-Conraria
Journal of Money, Credit, and Banking, June 2007, 39(4), pp. 925-44.

"Measuring Interest Rates as Determined by Thrift and Productivity"
with Woon Gyu Choi
Annals of Economics and Finance, May 2007, 8(1), pp. 159-87.

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Articles Published by the Federal Reserve Bank of St. Louis

"The Liquidity Trap: An Alternative Explanation for Today's Low Inflation"
with Maria A. Arias
Federal Reserve Bank of St. Louis The Regional Economist, April 2014.

"Dynamics of Externalities: A Second-Order Perspective"
with Huabin Wu
Federal Reserve Bank of St. Louis Review, May/June 2011, 93(3), pp. 187-206.

"Can Rising Housing Prices Explain China’s High Household Saving Rate?"
with Xin Wang
Federal Reserve Bank of St. Louis Review, March/April 2011, 93(2), pp. 67-88.

"Granger Causality and Equilibrium Business Cycle Theory"
Federal Reserve Bank of St. Louis Review, May/June 2007, 89(3), pp. 195-205.

 

Working Papers

"The Great Housing Boom of China"
with Kaiji Chen
Working Paper 2014-022A, posted August 2014.

"QE: When and How Should the Fed Exit?"
Working Paper 2014-016A, posted July 2014.

"Withstanding Great Recession like China"
with Jing Wu
Working Paper 2014-007A, posted March 2014.

"Money, Liquidity and Welfare"
Working Paper 2014-003A, posted February 2014.

"Evaluating Unconventional Monetary Policies ─Why Aren’t They More Effective?"
Working Paper 2013-028B, posted October 2013, updated January 2014.

"Is Government Spending a Free Lunch? -- Evidence from China"
with Xin Wang
Working Paper 2013-013A, posted March 2013.

"Uncertainty and Sentiment-Driven Equilibria"
with Jess Benhabib and Pengfei Wang
Working Paper 2013-011A, posted March 2013.

"Financial Development and Long-Run Volatility Trends"
with Pengfei Wang
Working Paper 2013-003A, posted January 2013.

"Liquidity and Welfare"
Working Paper 2012-037A, posted September 2012.

"Sentiments and Aggregate Demand Fluctuations"
with Jess Benhabib and Pengfei Wang
Working Paper 2012-039A, posted September 2012.

"Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach"
with Pengfei Wang and Zhiwei Xu
Working Paper 2012-016A, posted June 2012.

"Capital, Finance, and Trade Collapse"
with Yang Jiao
Working Paper 2012-003A, posted February 2012.

"Explaining China's Trade Imbalance Puzzle"
Working Paper 2011-018A, posted August 2011.

"When Do Inventories Destabilize the Economy? An Analytical Approach to (S,s) Policies"
with Pengfei Wang and Zhiwei Xu
Working Paper 2011-014A, posted May 2011.

"Making Sense of China’s Excessive Foreign Reserves"
Working Paper 2011-006A, posted February 2011.

"Can Rising Housing Prices Explain China’s High Household Saving Rate?"
with Xin Wang
Working Paper 2010-048A, posted November 2010.

"Lucas meets Baumol and Tobin"
Working Paper 2010-014B, posted June 2010.

"Liquidity Demand and Welfare in a Heterogeneous-Agent Economy"
Working Paper 2010-009A, posted March 2010.

"Dissecting Taylor Rules in a Structural VAR"
with Woon Gyu Choi
Working Paper 2010-005A, posted January 2010.

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Editorial Activities

Associate Editor, Macroeconomic Dynamics, 2009-2013.

Associate Editor, Journal of Economic Dynamics and Control, January 2010-present.

Co-Editor, China Economic Review, Jan. 2013 - Present.

Commentary

"Low Inflation in a World of Securitization"
with Brett W. Fawley
Federal Reserve Bank of St. Louis Economic Synopses, 2013, Number 15.

"The Great Chinese Housing Boom "
with Brett W. Fawley
Federal Reserve Bank of St. Louis Economic Synopses, 2013, Number 13.

"Why Aren’t the Chinese Buying More American Goods?"
Federal Reserve Bank of St. Louis International Economic Trends - Annual Edition, July 2010.

"Why Do People Dislike Inflation?"
Federal Reserve Bank of St. Louis Monetary Trends, June 2010.

"Economic Growth and the Global Savings Glut"
Federal Reserve Bank of St. Louis International Economic Trends, May 2010.

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