YiLi Chien
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Federal Reserve Bank of St. Louis
/ Research Division
Research profile
author of:
- Why Tax Capital?
ANU Working Papers in Economics and Econometrics, Australian National University, College of Business and Economics, School of Economics (2008)
by Junsang Lee & Yili Chien
(ReDIF-paper, acb:cbeeco:2008-497) - Optimal Capital Taxation Under Limited Commitment
ANU Working Papers in Economics and Econometrics, Australian National University, College of Business and Economics, School of Economics (2008)
by Junsang Lee & Yili Chien
(ReDIF-paper, acb:cbeeco:2008-498) - Is the Volatility of the Market Price of Risk Due to Intermittent Portfolio Rebalancing?
American Economic Review, American Economic Association (2012)
by YiLi Chien & Harold Cole & Hanno Lustig
(ReDIF-article, aea:aecrev:v:102:y:2012:i:6:p:2859-96) - Two Monetary Models with Alternating Markets
Working Papers, Chapman University, Economic Science Institute (2013)
by Gabriele Camera & YiLi Chien
(ReDIF-paper, chu:wpaper:13-25) - A Note On Using Excessive Perks To Restrain The Hidden Saving Problem
Macroeconomic Dynamics, Cambridge University Press (2014)
by Chien, YiLi & Song, Joon
(ReDIF-article, cup:macdyn:v:18:y:2014:i:02:p:480-496_00) - Why Are Exchange Rates So Smooth? A Segmented Asset Markets Explanation
Research Papers, Stanford University, Graduate School of Business (2015)
by Chien, YiLi & Lustig, Hanno & Naknoi, Kanda
(ReDIF-paper, ecl:stabus:3414) - Should capital be taxed?
Economics Letters, Elsevier (2021)
by Chen, Yunmin & Chien, YiLi & Wen, Yi & Yang, C.C.
(ReDIF-article, eee:ecolet:v:200:y:2021:i:c:s0165176521000239) - Are unconditional lump-sum transfers a good idea?
Economics Letters, Elsevier (2021)
by Chen, Yunmin & Chien, YiLi & Wen, Yi & Yang, C.C.
(ReDIF-article, eee:ecolet:v:209:y:2021:i:c:s0165176521003657) - Time-inconsistent optimal quantity of debt
European Economic Review, Elsevier (2021)
by Chien, YiLi & Wen, Yi
(ReDIF-article, eee:eecrev:v:140:y:2021:i:c:s0014292121002208) - The determination of public debt under both aggregate and idiosyncratic uncertainty
Journal of Economic Theory, Elsevier (2022)
by Chien, YiLi & Wen, Yi
(ReDIF-article, eee:jetheo:v:203:y:2022:i:c:s0022053122000643) - Why are exchange rates so smooth? A household finance explanation
Journal of Monetary Economics, Elsevier (2020)
by Chien, YiLi & Lustig, Hanno & Naknoi, Kanda
(ReDIF-article, eee:moneco:v:112:y:2020:i:c:p:129-144) - The risk premium and long-run global imbalances
Journal of Monetary Economics, Elsevier (2015)
by Chien, YiLi & Naknoi, Kanda
(ReDIF-article, eee:moneco:v:76:y:2015:i:c:p:299-315) - Why tax capital?
CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2009)
by Yili Chien & Junsang Lee
(ReDIF-paper, een:camaaa:2009-05) - Optimal capital taxation under limited commitment
CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2009)
by Yili Chien & Junsang Lee
(ReDIF-paper, een:camaaa:2009-06) - The cost of chasing returns
Economic Synopses, Federal Reserve Bank of St. Louis (2014)
by YiLi Chien
(ReDIF-article, fip:fedles:00018) - Lagging Long-Term Wage Growth
Economic Synopses, Federal Reserve Bank of St. Louis (2015)
by Maria A. Arias & YiLi Chien
(ReDIF-article, fip:fedles:00041) - PMI and GDP: Do They Correlate for the United States? For China?
Economic Synopses, Federal Reserve Bank of St. Louis (2016)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedles:00060) - Filling the Tank on Fridays May Be a Bad Idea for St. Louisans
Economic Synopses, Federal Reserve Bank of St. Louis (2016)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedles:00062) - The Heterogeneous Impacts of Rising Inflation
Economic Synopses, Federal Reserve Bank of St. Louis (2016)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedles:00075) - Does a Stronger Dollar Erode the Profitability of U.S. Firms?
Economic Synopses, Federal Reserve Bank of St. Louis (2016)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedles:00081) - The Rising Federal Funds Rate in the Current Low Long-Term Interest Rate Environment
Economic Synopses, Federal Reserve Bank of St. Louis (2017)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedles:00091) - State Variation of Tax Deductions
Economic Synopses, Federal Reserve Bank of St. Louis (2017)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedles:00093) - Decomposing the Low PCE Inflation Rate
Economic Synopses, Federal Reserve Bank of St. Louis (2019)
by Julie Bennett & YiLi Chien
(ReDIF-article, fip:fedles:87649) - How Long Will the Relief Check Last?
Economic Synopses, Federal Reserve Bank of St. Louis (2020)
by YiLi Chien
(ReDIF-article, fip:fedles:87763) - How Bad Can It Be? The Relationship between GDP Growth and the Unemployment Rate
Economic Synopses, Federal Reserve Bank of St. Louis (2020)
by YiLi Chien
(ReDIF-article, fip:fedles:87784) - The Wage Bills of COVID-19
Economic Synopses, Federal Reserve Bank of St. Louis (2020)
by Julie Bennett & YiLi Chien
(ReDIF-article, fip:fedles:87799) - Will Workers Want To Be Laid Off?
Economic Synopses, Federal Reserve Bank of St. Louis (2020)
by Julie Bennett & YiLi Chien
(ReDIF-article, fip:fedles:87857) - The Value of $600 Across States Hit Hardest by COVID-19
Economic Synopses, Federal Reserve Bank of St. Louis (2020)
by Julie Bennett & YiLi Chien
(ReDIF-article, fip:fedles:87868) - The Large Gap in Stock Market Participation Between Black and White Households
Economic Synopses, Federal Reserve Bank of St. Louis (2022)
by Julie Bennett & YiLi Chien
(ReDIF-article, fip:fedles:93878) - The Recent Rise of U.S. National Wealth
Economic Synopses, Federal Reserve Bank of St. Louis (2022)
by YiLi Chien & Ashley Stewart
(ReDIF-article, fip:fedles:94929) - Unemployment by Industry: Duration Must Be Considered, Too
The Regional Economist, Federal Reserve Bank of St. Louis (2016)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedlre:00102) - Slowdown in Productivity: State vs. National Trend
The Regional Economist, Federal Reserve Bank of St. Louis (2017)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedlre:00138) - Household Participation in Stock Market Varies Widely by State
The Regional Economist, Federal Reserve Bank of St. Louis (2017)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedlre:00153) - Many Americans Still Lack Retirement Savings
The Regional Economist, Federal Reserve Bank of St. Louis (2018)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedlre:00173) - Accounting for Age: The Financial Health of Millennials
The Regional Economist, Federal Reserve Bank of St. Louis (2018)
by YiLi Chien & Paul Morris
(ReDIF-article, fip:fedlre:00183) - Better than Ever? The Wealth of Retired Households
The Regional Economist, Federal Reserve Bank of St. Louis (2019)
by YiLi Chien & Qiuhan Sun
(ReDIF-article, fip:fedlre:00217) - Same Target, Different Economies: A Cross-Country Analysis of Inflation
The Regional Economist, Federal Reserve Bank of St. Louis (2020)
by Julie Bennett & YiLi Chien
(ReDIF-article, fip:fedlre:88309) - State Government Expenditures by Party Affiliation
The Regional Economist, Federal Reserve Bank of St. Louis (2021)
by Julie Bennett & YiLi Chien
(ReDIF-article, fip:fedlre:93208) - The Impact of Inflation’s Wealth Transfer Effect
The Regional Economist, Federal Reserve Bank of St. Louis (2022)
by YiLi Chien & Jason Dunn
(ReDIF-article, fip:fedlre:94760) - Central Bank Balance Sheets and Policy Rate Decisions
The Regional Economist, Federal Reserve Bank of St. Louis (2023)
by YiLi Chien & Ashley Stewart
(ReDIF-article, fip:fedlre:96189) - The Welfare Cost of Business Cycles with Heterogeneous Trading Technologies
Review, Federal Reserve Bank of St. Louis (2015)
by YiLi Chien
(ReDIF-article, fip:fedlrv:00037) - Optimal Ramsey Capital Taxation with Endogenous Government Spending
Review, Federal Reserve Bank of St. Louis (2016)
by YiLi Chien & Junsang Lee
(ReDIF-article, fip:fedlrv:00067) - The Real Term Premium in a Stationary Economy with Segmented Asset Markets
Review, Federal Reserve Bank of St. Louis (2019)
by YiLi Chien & Junsang Lee
(ReDIF-article, fip:fedlrv:00117) - Convergence to Rational Expectations in Learning Models: A Note of Caution
Review, Federal Reserve Bank of St. Louis (2021)
by YiLi Chien & In-Koo Cho & B. Ravikumar
(ReDIF-article, fip:fedlrv:92881) - Optimal Capital Taxation and Precautionary Savings
Review, Federal Reserve Bank of St. Louis (2021)
by Yunmin Chen & YiLi Chien & C.C. Yang
(ReDIF-article, fip:fedlrv:92882) - Stability and Equilibrium Selection in Learning Models: A Note of Caution
Review, Federal Reserve Bank of St. Louis (2021)
by YiLi Chien & In-Koo Cho & B. Ravikumar
(ReDIF-article, fip:fedlrv:93188) - Credit Expansion and Markups
Review, Federal Reserve Bank of St. Louis (2022)
by YiLi Chien & Hyungsuk Lee & Junsang Lee
(ReDIF-article, fip:fedlrv:94617) - The risk premium and long-run global imbalances
Working Papers, Federal Reserve Bank of St. Louis (2012)
by YiLi Chien & Kanda Naknoi
(ReDIF-paper, fip:fedlwp:2012-009) - Understanding the distributional impact of long-run inflation
Working Papers, Federal Reserve Bank of St. Louis (2012)
by Gabriele Camera & YiLi Chien
(ReDIF-paper, fip:fedlwp:2012-058) - Modeling monetary economies: an equivalence result
Working Papers, Federal Reserve Bank of St. Louis (2013)
by Gabriele Camera & YiLi Chien
(ReDIF-paper, fip:fedlwp:2013-009) - Implications of heterogeneity in preferences, beliefs and asset trading technologies for the macroeconomy
Working Papers, Federal Reserve Bank of St. Louis (2014)
by YiLi Chien & Harold L. Cole & Hanno Lustig
(ReDIF-paper, fip:fedlwp:2014-014) - The cost of business cycles with heterogeneous trading technologies
Working Papers, Federal Reserve Bank of St. Louis (2014)
by YiLi Chien
(ReDIF-paper, fip:fedlwp:2014-015) - Why Are Exchange Rates So Smooth? A Household Finance Explanation
Working Papers, Federal Reserve Bank of St. Louis (2015)
by YiLi Chien & Hanno Lustig & Kanda Naknoi
(ReDIF-paper, fip:fedlwp:2015-039) - Individual and Aggregate Constrained Efficient Intertemporal Wedges in Dynamic Mirrleesian Economies
Working Papers, Federal Reserve Bank of St. Louis (2015)
by Yunmin Chen & YiLi Chien & Michael T. Owyang
(ReDIF-paper, fip:fedlwp:2015-043) - Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited
Working Papers, Federal Reserve Bank of St. Louis (2017)
by Yunmin Chen & YiLi Chien & C.C. Yang
(ReDIF-paper, fip:fedlwp:2017-003) - Optimal Ramsey Capital Income Taxation —A Reappraisal
Working Papers, Federal Reserve Bank of St. Louis (2017)
by YiLi Chien & Yi Wen
(ReDIF-paper, fip:fedlwp:2017-024) - The Real Term Premium in a Stationary Economy with Segmented Asset Markets
Working Papers, Federal Reserve Bank of St. Louis (2018)
by YiLi Chien & Junsang Lee
(ReDIF-paper, fip:fedlwp:2018-030) - Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
Working Papers, Federal Reserve Bank of St. Louis (2019)
by YiLi Chien & Yi Wen
(ReDIF-paper, fip:fedlwp:2019-007) - The Determination of Public Debt under both Aggregate and Idiosyncratic Uncertainty
Working Papers, Federal Reserve Bank of St. Louis (2019)
by YiLi Chien & Yi Wen
(ReDIF-paper, fip:fedlwp:86669) - Optimal Fiscal Policy under Capital Overaccumulation
Working Papers, Federal Reserve Bank of St. Louis (2020)
by YiLi Chien & Yi Wen
(ReDIF-paper, fip:fedlwp:87400) - Are Government Bonds Net Wealth or a Liability? ---Optimal Debt and Taxes in an OLG Model with Uninsurable Income Risk
Working Papers, Federal Reserve Bank of St. Louis (2020)
by YiLi Chien & Yi Wen & HsinJung Wu
(ReDIF-paper, fip:fedlwp:87831) - Convergence to Rational Expectations in Learning Models: A Note of Caution
Working Papers, Federal Reserve Bank of St. Louis (2020)
by YiLi Chien & In-Koo Cho & B. Ravikumar
(ReDIF-paper, fip:fedlwp:88664) - Should Capital Be Taxed?
Working Papers, Federal Reserve Bank of St. Louis (2020)
by Yunmin Chen & YiLi Chien & Yi Wen & C.C. Yang
(ReDIF-paper, fip:fedlwp:88813) - Time-Inconsistent Optimal Quantity of Debt
Working Papers, Federal Reserve Bank of St. Louis (2020)
by YiLi Chien & Yi Wen
(ReDIF-paper, fip:fedlwp:88991) - Are Unconditional Lump-sum Transfers a Good Idea?
Working Papers, Federal Reserve Bank of St. Louis (2021)
by Yunmin Chen & YiLi Chien & Yi Wen & C. C. Yang
(ReDIF-paper, fip:fedlwp:89824) - The Ramsey Steady-State Conundrum in Heterogeneous-Agent Economies
Working Papers, Federal Reserve Bank of St. Louis (2022)
by YiLi Chien & Yi Wen
(ReDIF-paper, fip:fedlwp:93994) - Optimal Dynamic Tax-Transfer Policies in Heterogeneous-Agents Economies
Working Papers, Federal Reserve Bank of St. Louis (2023)
by YiLi Chien & Yi Wen
(ReDIF-paper, fip:fedlwp:96078) - What about Japan?
Working Papers, Federal Reserve Bank of St. Louis (2023)
by YiLi Chien & Harold L. Cole & Hanno Lustig
(ReDIF-paper, fip:fedlwp:97227) - More Households Face Food Scarcity during COVID-19
On the Economy, Federal Reserve Bank of St. Louis (2020)
by Julie Bennett & YiLi Chien
(ReDIF-paper, fip:l00001:88195) - Why the Same Inflation Target May Not Fit All Countries
On the Economy, Federal Reserve Bank of St. Louis (2020)
by Julie Bennett & YiLi Chien
(ReDIF-paper, fip:l00001:88685) - How Financially Fit Are American Retirees?
On the Economy, Federal Reserve Bank of St. Louis (2020)
by YiLi Chien & Qiuhan Sun
(ReDIF-paper, fip:l00001:88867) - Are State Political Leanings and Government Spending Correlated?
On the Economy, Federal Reserve Bank of St. Louis (2021)
by YiLi Chien
(ReDIF-paper, fip:l00001:93974) - What Drives Changes in Inflation?
On the Economy, Federal Reserve Bank of St. Louis (2021)
by Julie Bennett & YiLi Chien
(ReDIF-paper, fip:l00001:93987) - Breaking Down the Contributors to High Inflation
On the Economy, Federal Reserve Bank of St. Louis (2022)
by Julie Bennett & YiLi Chien
(ReDIF-paper, fip:l00001:94123) - What Do Financial Markets Say about Future Inflation?
On the Economy, Federal Reserve Bank of St. Louis (2022)
by Julie Bennett & YiLi Chien
(ReDIF-paper, fip:l00001:94386) - What Does History Reveal about Reducing the National Debt Burden?
On the Economy, Federal Reserve Bank of St. Louis (2023)
by YiLi Chien & Ashley Stewart
(ReDIF-paper, fip:l00001:95958) - What Lessons Can Be Drawn from Japan’s High Debt-to-GDP Ratio?
On the Economy, Federal Reserve Bank of St. Louis (2023)
by YiLi Chien & Ashley Stewart
(ReDIF-paper, fip:l00001:97371) - Bank Reserves since the Start of Quantitative Tightening
On the Economy, Federal Reserve Bank of St. Louis (2024)
by YiLi Chien & Ashley Stewart
(ReDIF-paper, fip:l00001:98279) - Japan’s Consolidated Balance Sheet and Challenges for Monetary Policy
On the Economy, Federal Reserve Bank of St. Louis (2024)
by YiLi Chien & Ashley Stewart
(ReDIF-paper, fip:l00001:99027) - The Market Price of Aggregate Risk and the Wealth Distribution
NBER Working Papers, National Bureau of Economic Research, Inc (2005)
by Hanno Lustig & Yi-Li Chien
(ReDIF-paper, nbr:nberwo:11132) - A Multiplier Approach to Understanding the Macro Implications of Household Finance
NBER Working Papers, National Bureau of Economic Research, Inc (2007)
by YiLi Chien & Harold Cole & Hanno Lustig
(ReDIF-paper, nbr:nberwo:13555) - Is the Volatility of the Market Price of Risk due to Intermittent Portfolio Re-balancing?
NBER Working Papers, National Bureau of Economic Research, Inc (2009)
by Yi-Li Chien & Harold L. Cole & Hanno Lustig
(ReDIF-paper, nbr:nberwo:15382) - Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
NBER Working Papers, National Bureau of Economic Research, Inc (2014)
by YiLi Chien & Harold L. Cole & Hanno Lustig
(ReDIF-paper, nbr:nberwo:20328) - What about Japan?
NBER Working Papers, National Bureau of Economic Research, Inc (2023)
by Yi-Li Chien & Harold L. Cole & Hanno Lustig
(ReDIF-paper, nbr:nberwo:31850) - A Multiplier Approach to Understanding the Macro Implications of Household Finance
The Review of Economic Studies, Review of Economic Studies Ltd (2011)
by Yili Chien & Harold Cole & Hanno Lustig
(ReDIF-article, oup:restud:v:78:y:2011:i:1:p:199-234) - The Market Price of Aggregate Risk and the Wealth Distribution
The Review of Financial Studies, Society for Financial Studies (2010)
by YiLi Chien & Hanno Lustig
(ReDIF-article, oup:rfinst:v:23:y:2010:i:4:p:1596-1650) - The Risk Premium and Long-Run Global Imbalances
Purdue University Economics Working Papers, Purdue University, Department of Economics (2011)
by YiLi Chien & Kanda Naknoi
(ReDIF-paper, pur:prukra:1266) - Code files for "Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy"
Computer Codes, Review of Economic Dynamics (2015)
by Yili Chien & Harold Cole & Hanno Lustig
(ReDIF-software, red:ccodes:14-172) - Code and data files for "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences"
Computer Codes, Review of Economic Dynamics (2021)
by YiLi Chien & Yi Wen
(ReDIF-software, red:ccodes:20-263) - Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2016)
by Yili Chien & Harold Cole & Hanno Lustig
(ReDIF-article, red:issued:14-172) - Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2022)
by YiLi Chien & Yi Wen
(ReDIF-article, red:issued:20-263) - Optimal Capital Taxation under Limited Commitment
2006 Meeting Papers, Society for Economic Dynamics (2006)
by YiLi Chien & JunSang Lee
(ReDIF-paper, red:sed006:430) - Why Tax Capital?
2006 Meeting Papers, Society for Economic Dynamics (2006)
by Yili Chien & Junsang Lee
(ReDIF-paper, red:sed006:492) - Macro Implications of Household Finance
2007 Meeting Papers, Society for Economic Dynamics (2007)
by Harold L. Cole & Hanno & YiLi Chien
(ReDIF-paper, red:sed007:479) - Who Bears Long-Run Inflation Risk? Implications for Bond Risk Premia
2013 Meeting Papers, Society for Economic Dynamics (2013)
by Harold Cole & Hanno Lustig & YiLi Chien
(ReDIF-paper, red:sed013:449) - The Risk Premium and Long-Run Global Imbalances
2013 Meeting Papers, Society for Economic Dynamics (2013)
by Kanda Naknoi & YiLi Chien
(ReDIF-paper, red:sed013:55) - Why Are Exchange Rates So Smooth? A Heterogeneous Portfolio Explanation
2017 Meeting Papers, Society for Economic Dynamics (2017)
by Kanda Naknoi & Hanno Lustig & YiLi Chien
(ReDIF-paper, red:sed017:214) - Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited
2018 Meeting Papers, Society for Economic Dynamics (2018)
by Yunmin Chen & Cheng Chen Yang & YiLi Chien
(ReDIF-paper, red:sed018:59) - Don't Tax Capital---Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences
2019 Meeting Papers, Society for Economic Dynamics (2019)
by YiLi Chien & Yi Wen
(ReDIF-paper, red:sed019:258) - The Risk Premium and Long-Run Global Imbalances
Working papers, University of Connecticut, Department of Economics (2012)
by YiLi Chien & Kanda Naknoi
(ReDIF-paper, uct:uconnp:2012-41) - Why Are Exchange Rates So Smooth? A Household Finance Explanation
Working papers, University of Connecticut, Department of Economics (2017)
by YiLi Chien & Hanno Lustig & Kanda Naknoi
(ReDIF-paper, uct:uconnp:2017-20) - Understanding the Distributional Impact of Long‐Run Inflation
Journal of Money, Credit and Banking, Blackwell Publishing (2014)
by Gabriele Camera & Yili Chien
(ReDIF-article, wly:jmoncb:v:46:y:2014:i:6:p:1137-1170) - Two Monetary Models with Alternating Markets
Journal of Money, Credit and Banking, Blackwell Publishing (2016)
by Gabriele Camera & Yili Chien
(ReDIF-article, wly:jmoncb:v:48:y:2016:i:5:p:1051-1064) - Two monetary models with alternating markets
SAFE Working Paper Series, Leibniz Institute for Financial Research SAFE (2013)
by Camera, Gabriele & Chien, YiLi
(ReDIF-paper, zbw:safewp:33)