2009-045B "Saving and Growth under Borrowing Constraints: -- Explaining the 'High Saving Rate' Puzzle" - September 2009, Revised October 2009
Abstract | Full Text (PDF)
2009-029B "Speculative Bubbles and Financial Crisis" - June 2009, revised July 2009
with Pengfei Wang
Abstract | Full Text (PDF)
2009-026B "An Analytical Approach to Buffer-Stock Saving under Borrowing Constraints" - June 2009, Revised July 2009
Abstract | Full Text (PDF)
2009-024A "When does Heterogeneity Matter?" - May 2009
Abstract | Full Text (PDF)
2009-022C "Financial Development and Economic Volatility: A Unified Explanation" - April 2009, Revised May 2009
with Pengfei Wang
Abstract | Full Text (PDF)
2009-019B "Liquidity and Welfare in a Heterogeneous-Agent Economy" - April 2009, Revised May 2009
Abstract | Full Text (PDF)
2009-010A "Inventory Accelerator in General Equilibrium" - March 2009
with Pengfei Wang
Abstract | Full Text (PDF)
2008-044A "Dynamics of Externalities: A Second-Order Perspective" - November 2008
with Huabin Wu
Abstract | Full Text (PDF)
2008-014B "Excessive Demand and Boom-Bust Cycles" - June 2008, Revised June 2008
with Patrick A. Pintus
Abstract | Full Text (PDF)
2008-008B "Input and Output Inventory Dynamics" - March 2008, Revised February 2009
Abstract | Full Text (PDF)
2007-033C "Incomplete Information and Self-fulfilling Prophecies" - August 2007, Revised July 2009
with Pengfei Wang
Abstract | Full Text (PDF)
2007-018B "A Defense of RBC: Understanding the Puzzling Effects of Technology Shocks" - April 2007, Revised June 2007
with Pengfei Wang
Abstract | Full Text (PDF)
2006-032B "Volatility, Growth, and Welfare" - May 2006, Revised October 2008
with Pengfei Wang
Abstract | Full Text (PDF)
Originally submitted as "Volatility, Growth, and Large Welfare Gains from Stabilization Policies"
2006-015A "Imperfect Competition and Sunspots" - March 2006
with Pengfei Wang
Abstract | Full Text (PDF)
2006-003C "Solving Linear Difference Systems with Lagged Expectations by a Method of Undetermined Coefficients" - January 2006, Revised May 2006
with Pengfei Wang
Abstract | Full Text (PDF) | Matlab Programs
2005-052A "The Effectiveness of Monetary Policy: An Assessment" - June 2005
Abstract | Full Text (PDF)
2005-050A "Wavelet: A New Tool for Business Cycle Analysis" - June 2005
with Sharif Md. Raihan and Bing Zeng
Abstract | Full Text (PDF)
2005-047A "Durable Good Inventories and the Volatility of Production: Explaining the Less Volatile U.S. Economy" - June 2005
Abstract | Full Text (PDF)
2005-046A "The Multiplier: A General Equilibrium Analysis of Multi-Stage-Fabrication Economy with Inventories" - June 2005
Abstract | Full Text (PDF)
2005-041A "Foreign Trade and Equilibrium Indeterminacy" - June 2005
with Luís Aguiar-Conraria
This paper has been replaced with working paper 2006-060.
Abstract | Full Text (PDF)
2005-040B "Labor Hoarding and Inventories" - June 2005, Revised October 2005
Abstract | Full Text (PDF)
2005-039A "Where's the Beef? The Trivial Dynamics of Real Business Cycle Models" - June 2005
Abstract | Full Text (PDF)
