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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
Phone: (314) 444-8783




Working Papers

"International Credit Markets and Global Business Cycles"
with Patrick A. Pintus and Xiaochuan Xin
Federal Reserve Bank of St. Louis Working Paper 2018-009A, June 2018

"Long and Plosser Meet Bewley and Lucas"
with Feng Dong
Federal Reserve Bank of St. Louis Working Paper 2018-008A, June 2018

"Flight to What?— ---Dissecting Liquidity Shortages in the Financial Crisis"
with Feng Dong
Federal Reserve Bank of St. Louis Working Paper 2017-025B, October 2017

"Optimal Ramsey Capital Income Taxation—A Reappraisal"
with YiLi Chien
Federal Reserve Bank of St. Louis Working Paper 2017-024C, February 2018

"Optimal Monetary Policy under Negative Interest Rate"
with Feng Dong
Federal Reserve Bank of St. Louis Working Paper 2017-019A, July 2017

"The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate"
with Patrick A. Pintus and Xiaochuan Xin
Federal Reserve Bank of St. Louis Working Paper 2016-027B, February 2017

"Interest Rate Dynamics, Variable-Rate Loan Contracts, and the Business Cycle"
with Patrick A. Pintus and Xiaochuan Xin
Federal Reserve Bank of St. Louis Working Paper 2015-032C, March 2016

"The Making of an Economic Superpower---Unlocking China’s Secret of Rapid Industrialization"
Federal Reserve Bank of St. Louis Working Paper 2015-006B, August 2015

"Institutions Do Not Rule: Reassessing the Driving Forces of Economic Development"
with Jinfeng Luo
Federal Reserve Bank of St. Louis Working Paper 2015-001B, July 2017

"QE: When and How Should the Fed Exit?"
Federal Reserve Bank of St. Louis Working Paper 2014-016A, July 2014

"Withstanding Great Recession like China"
with Jing Wu
Federal Reserve Bank of St. Louis Working Paper 2014-007C, October 2017

"Evaluating Unconventional Monetary Policies Why Aren’t They More Effective?"
Federal Reserve Bank of St. Louis Working Paper 2013-028B, October 2013

"Is Government Spending a Free Lunch? --- Evidence from China"
with Xin Wang
Federal Reserve Bank of St. Louis Working Paper 2013-013B, November 2017

"Uncertainty and Sentiment-Driven Equilibria"
with Jess Benhabib and Pengfei Wang
Federal Reserve Bank of St. Louis Working Paper 2013-011A, March 2013

"Liquidity and Welfare"
Federal Reserve Bank of St. Louis Working Paper 2012-037A, September 2012

"Capital, Finance, and Trade Collapse"
with Yang Jiao
Federal Reserve Bank of St. Louis Working Paper 2012-003A, February 2012

"Explaining China's Trade Imbalance Puzzle"
Federal Reserve Bank of St. Louis Working Paper 2011-018A, August 2011

"Making Sense of China’s Excessive Foreign Reserves"
Federal Reserve Bank of St. Louis Working Paper 2011-006A, February 2011

"Lucas meets Baumol and Tobin"
Federal Reserve Bank of St. Louis Working Paper 2010-014B, October 2010

"Liquidity Demand and Welfare in a Heterogeneous-Agent Economy"
Federal Reserve Bank of St. Louis Working Paper 2010-009A, March 2010

"Dissecting Taylor Rules in a Structural VAR"
with Woon Gyu Choi
Federal Reserve Bank of St. Louis Working Paper 2010-005A, January 2010

"Saving and Growth under Borrowing Constraints: -- Explaining the "High Saving Rate" Puzzle"
Federal Reserve Bank of St. Louis Working Paper 2009-045C, May 2010

"An Analytical Approach to Buffer-Stock Saving under Borrowing Constraints"
Federal Reserve Bank of St. Louis Working Paper 2009-026A, July 2009

"When does Heterogeneity Matter?"
Federal Reserve Bank of St. Louis Working Paper 2009-024A, May 2009

"Financial Development and Economic Volatility: A Unified Explanation"
with Pengfei Wang
Federal Reserve Bank of St. Louis Working Paper 2009-022C, May 2009

"Liquidity and Welfare in a Heterogeneous-Agent Economy"
Federal Reserve Bank of St. Louis Working Paper 2009-019B, May 2009

"Inventory Accelerator in General Equilibrium"
with Pengfei Wang
Federal Reserve Bank of St. Louis Working Paper 2009-010A, March 2009

"Inventories, Liquidity, and the Macroeconomy"
Federal Reserve Bank of St. Louis Working Paper 2008-045A, December 2008

"Excessive Demand and Boom-Bust Cycle"
with Patrick A. Pintus
Federal Reserve Bank of St. Louis Working Paper 2008-014C, June 2009

"Incomplete information and self-fulfilling prophecies"
with Pengfei Wang
Federal Reserve Bank of St. Louis Working Paper 2007-033C, July 2009

"Imperfect Competition and Sunspots"
with Pengfei Wang
Federal Reserve Bank of St. Louis Working Paper 2006-015A, March 2006

"Solving Linear Difference Systems with Lagged Expectations by a Method of Undetermined Coefficients"
with Pengfei Wang
Federal Reserve Bank of St. Louis Working Paper 2006-003C, January 2006

"The Effectiveness of Monetary Policy: An Assessment"
Federal Reserve Bank of St. Louis Working Paper 2005-052A, June 2005

"Wavelet: A New Tool for Business Cycle Analysis"
with Sharif Md. Raihan and Bing Zeng
Federal Reserve Bank of St. Louis Working Paper 2005-050A, June 2005

"Durable Good Inventories and the Volatility of Production: Explaining the Less Volatile U.S. Economy"
Federal Reserve Bank of St. Louis Working Paper 2005-047A, June 2005

"The Multiplier: A General Equilibrium Analysis of Multi-Stage-Fabrication Economy with Inventories"
Federal Reserve Bank of St. Louis Working Paper 2005-046A, June 2005

"Foreign Trade and Equilibrium Indeterminacy"
with Luís Aguiar-Conraria
Federal Reserve Bank of St. Louis Working Paper 2005-041A, June 2005

"Labor Hoarding and Inventories"
Federal Reserve Bank of St. Louis Working Paper 2005-040B, June 2005

"Where's the Beef? The Trivial Dynamics of Real Business Cycle Models"
Federal Reserve Bank of St. Louis Working Paper 2005-039A, June 2005

"Granger Causality and Equilibrium Business Cycle Theory"
Federal Reserve Bank of St. Louis Working Paper 2005-038B, April 2007




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