Huiyu (Huey) Li

Contact:

Economic Research,

Federal Reserve Bank of San Francisco,

101 Market Street, San Francisco, CA 94105

tohuiyu@gmail.com, FRB SF, CV

Position:

Research Advisor, FRB SF, since August 2021

Senior Economist, FRB SF, April 2019 - July 2021

Economist, FRB SF, May 2015 - April 2019

Education:

Ph.D. in Economics, Stanford University, 2015

M.A. in Economics, University of Tokyo, 2009

B.A. in Economics, University of Tokyo, 2007

Publications:

• A Theory of Falling Growth and Rising Rents Online Appendix

Accepted Review of Economic Studies, Oct 2022.

with Philippe Aghion, Antonin Bergeaud, Timo Boppart, and Pete Klenow

• The Impact of COVID on Productivity and Potential Output. September 2022.

The conference volume of the Jackson Hole Economic Symposium

with John Fernald

• Productivity Slowdown: Reducing the Measure of Our Ignorance. April 2022.

The conference volume of "The Economics of Creative Destruction, a Festschrift in Honor of Aghion-Howitt" Harvard University Press

with Timo Boppart

• Leverage and Productivity, Journal of Development Economics, Vol 154, Jan 2022.

• BLP Estimation Using Laplace Transformation and Overlapping Simulation Draws appendix

Journal of Econometrics, 222 (1), Part A, 56-72, May 2021.

with Han Hong and Jessie Li

• Innovative Growth Accounting slides

NBER Macroeconomics Annual, 2020

with Pete Klenow

• Missing Growth from Creative Destruction online appendix

American Economic Review, 109(8), 2795–2822, Aug 2019.

with Philippe Aghion, Antonin Bergeaud, Timo Boppart and Pete Klenow

• Policy Error Bounds for Strongly Concave Stochastic Dynamic Programming with Non-interior Solutions

Computational Economics, 46(2), 171-187, Aug 2015.

• Solving the Income Fluctuation Problem with Unbounded Reward

Journal of Economic Dynamics and Control, 45, 353-365, Aug 2014.

with John Stachurski

• Generalized Look-Ahead Methods for Computing Stationary Densities

Mathematics of Operations Research, 37(3), 489-500, Aug 2012.

with R. Anton Braun and John Stachurski

Working papers:

• Good Rents versus Bad Rents: R&D Misallocation and Growth (with Philippe Aghion, Antonin Bergeaud, Timo Boppart, and Pete Klenow), Dec 2022

• Entry Costs Rise with Growth, Slides (with Pete Klenow) Aug 2022

Work in progress:

• The Effect of Aging on Entrepreneurship and Aggregate Productivity (with Naomi Kodama) Old draft from 2018.

• What Drives Trends in Employment to Population Ratios? (with Nicolas Petrosky-Nadeau)

Fallow working papers:

• The Asymptotic Distribution of Estimators with Overlapping Simulation Draws (with Tim Armstrong, Ron Gallant and Han Hong), submitted to Econometric Review, Aug 2018.

Discussions:

• On “The Aggregate Effects of Acquisitions on Innovation and Economic Growth” by Fons-Rosen, Roldan-Blanco and Schmitz, California Macroeconomics Conference, Oct 2021.

• On “Population Growth and Firm Dynamics” by Peters and Walsh, ASSA, Jan 2021.

Short publications:

• Labor Productivity in a Pandemic. FRBSF Economic Letter 2021-22 (with Fernald and Ochse)

• Future Output Loss from COVID-Induced School Closures. FRBSF Economic Letter 2021-04 (with Fernald and Ochse)

• Disruptions to Starting a Business during COVID-19. FRBSF Economic Letter 2020-25 (with Ochse)

• Innovative Growth Accounting. Vox EU, August 2020 (with Klenow)

• Innovation by Young and Small Firms. in Japanese. Nikkei Newspaper. April 20 2020 (with Klenow)

• Is Rising Concentration Hampering Productivity Growth? FRBSF Economic Letter 2019-28 (with Klenow and Naff)

• Is Slow Still the New Normal for GDP Growth? FRBSF Economic Letter 2019-17 (with Fernald)

• Nonmanufacturing as an Engine of Growth. FRBSF Economic Letter 2019-03

• Missing Growth from Creative Destruction. FRBSF Economic Letter 2017-31 (with Klenow)

• Missing growth: How imputation and creative destruction affect TFP measurement. Vox EU, August 2017 (with Aghion, Bergeaud, Boppart, and Klenow)

• What’s Holding Back Business Formation? FRBSF Economic Letter 2017-20 (with Kiernan)

• How Does Business Dynamism Link to Productivity Growth? FRBSF Economic Letter 2017-01

Other professional activities:

• U.S. Census Bureau Special Sworn Status Researcher, since 2015

• Macro Finance Society member, since 2015.

• Referee experience: Econometrica | Journal of Political Economy | Quarterly Journal of Economics | Review of Economic Studies | AER Insights | AEJ Macro | Journal of Monetary Economics | Journal of Development Economics | Journal of Economics Theory | Review of Economic Dynamics | Review of Economics and Statistics | European Economic Review | Quantitative Economics | Journal of Economic Dynamics and Control | the B.E. Journal of Macroeconomics | Computational Economics | Economics Letters

Awards:

2021 Excellence in Refereeing Award, AER: Insights

2020 Excellence in Refereeing Award, AER: Insights

2014-15 Leonard W. Ely and Shirley R. Ely Graduate Student Fund Fellowship, SIEPR

2013-14 Dissertation Fellow, IRiSS Stanford

2013-14 Japan Fund Dissertation Fellowship, FSI

2012-13 Shultz Graduate Student Fellowship in Economic Policy, SIEPR

2012-13 Shorenstein Predoctoral Fellowship in Contemporary Asia

2009-10 Stanford Department Fellowship

2009 JSPS Research Fellowships for Young Scientists

2008 CEMANO-COE Distinguished TA Award for Core Graduate Macroeconomics II, The University of Tokyo

2007-09 Japanese Government Scholarship for Master Studies

2007 Presidential Award, The University of Tokyo

2002-06 Japanese Government Scholarship for Undergraduate Studies

Last Updated : December 2022.

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