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Yi Wen

Assistant Vice President

Education

Ph.D. Economics
University of Iowa
1996

M.A. Philosophy of Science
Notre Dame University
1991

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

Contact Info

Phone: (314) 444-8559
Fax: (314) 444-8731

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

For media inquiries contact:
Laura Taylor
mediainquiries@stls.frb.org
Office: (314) 444-8783
Cell: (314) 313-4613





Working Papers

"Optimal Ramsey Capital Income Taxation —A Reappraisal,"
Working Paper 2017-024B, August 2017, updated September 2017.

"Flight to What? — Dissecting Liquidity Shortage in Financial Crisis,"
Working Paper 2017-025A, August 2017.

"Institutions Do Not Rule: Reassessing the Driving Forces of Economic Development,"
Working Paper 2015-001B, January 2015, updated June 2017.

"Optimal Monetary Policy under Negative Interest Rate,"
Working Paper 2017-019A, May 2017.

"The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate,"
Working Paper 2016-027B, November 2016, updated February 2017.

"Interest Rate Dynamics, Variable-Rate Loan Contracts, and the Business Cycle,"
Working Paper 2015-032C, September 2015, updated March 2016.

"The Making of an Economic Superpower―Unlocking China’s Secret of Rapid Industrialization,"
Working Paper 2015-006B, March 2015, updated June 2015.

"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, July 2014.

"Withstanding Great Recession like China,"
Working Paper 2014-007A, March 2014.

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

"Uncertainty and Sentiment-Driven Equilibria,"
Working Paper 2013-011A, March 2013.

"Is Government Spending a Free Lunch? -- Evidence from China"
with Xin Wang
Working Paper 2013-013A, 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, 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,"
Working Paper 2012-003A, February 2012.

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

"Dynamics of Externalities: A Second-Order Perspective,"
Working Paper 2008-044B, November 2008, updated March 2011.

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

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

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

"Saving and Growth under Borrowing Constraints: -- Explaining the “High Saving Rate” Puzzle,"
Working Paper 2009-045C, September 2009, updated June 2010.

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

"Dissecting Taylor Rules in a Structural VAR,"
Working Paper 2010-005A, January 2010.

"Leveraged Financing, Over Investment, and Boom-Bust Cycles,"
Working Paper 2008-014C, June 2008, updated December 2009.

"Incomplete Information and Self-fulfilling Prophecies,"
Working Paper 2007-033C, August 2007, updated July 2009.

"An Analytical Approach to Buffer-Stock Saving under Borrowing Constraints,"
Working Paper 2009-026A, June 2009, updated July 2009.

"Financial Development and Economic Volatility: A Unified Explanation,"
Working Paper 2009-022C, April 2009, updated May 2009.

"When does Heterogeneity Matter?"
Working Paper 2009-024A, May 2009.

"Liquidity and Welfare in a Heterogeneous-Agent Economy,"
Working Paper 2009-019B, April 2009, updated May 2009.

"Inventory Accelerator in General Equilibrium,"
Working Paper 2009-010A, March 2009.

"Input and Output Inventory Dynamics,"
Working Paper 2008-008A, March 2008, updated February 2009.

"Inventories, Liquidity, and the Macroeconomy,"
Working Paper 2008-045A, December 2008.




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