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Dr. Yulei LUO graduated from Wuhan University in 1997 with B.S. in Electronics and Information System, and obtained his Ph.D. in Economics from Princeton University in 2005. He joined the School of Economics and Finance at The University of Hong Kong in 2006 and became Associate Professor in 2012.
Yulei’s research interests are in macroeconomics, asset pricing, and international finance. He has papers published in academic journals including Management Science, Journal of Economic Theory, Journal of International Economics, American Economic Journal: Macroeconomics, Journal of the European Economic Association, European Economic Review, Review of Economic Dynamics, Journal of Money, Credit and Banking, Journal of Economic Dynamics and Control, Economic Inquiry, and Macroeconomic Dynamics.
Yulei has done some work on sticky information, robustness, and aggregate fluctuations. He has also studied the implications of idiosyncratic shocks and incomplete markets on wealth inequality and aggregate dynamics. His current research interests are about optimal consumption-savings and portfolio rules under induced uncertainty, and their implications for asset pricing, business cycles, and welfare.
Areas of Interest
Ph.D., M.A., Princeton University
B.S., Wuhan University
Publications in Refereed Journals:
“Robustly Strategic Consumption-Portfolio Rules with Informational Frictions (2016).”
Forthcoming in Management Science.
“Induced Uncertainty, Market Price of Risk, and the Dynamics of Consumption and Wealth,”
(with Eric R. Young), Journal of Economic Theory 163, 2016, pp. 1-41. (Lead Article)
“Long-run Consumption Risk and Asset Allocation under Recursive Utility and Rational Inattention,”
(with Eric R. Young), Journal of Money, Credit and Banking 48 (2-3), 2016, pp. 325–362.
“Attention Misallocation, Social Welfare, and Policy Implications,”
(with Heng Chen and Guangyu Pei), Journal of Economic Dynamics and Control 59, 2015, pp. 37-57.
“Slow Information Diffusion and the Inertial Behavior of Durables Consumption,”
(with Jun Nie and Eric R. Young), Journal of the European Economic Association 13(5), 2015, pp. 805-840.
“Model Uncertainty and Intertemporal Tax Smoothing,”
(with Jun Nie and Eric R. Young), Journal of Economic Dynamics and Control 45, 2014, pp. 289-314.
“Robust Control, Informational Frictions, and International Consumption Correlations,”
(with Jun Nie and Eric R. Young), European Economic Review 67, 2014, pp. 1-27. (Lead Article)
“Signal Extraction and Rational Inattention,”
(with Eric R. Young), Economic Inquiry 52(2), 2014, pp. 811-829.
“Robustness, Information-processing Constraints, and the Current Account in Small Open Economies,”
(with Jun Nie and Eric R. Young), Journal of International Economics 88, 2012, pp. 104-120.
“Rational Inattention, Long-run Consumption Risk, and Portfolio Choice,” Review of Economic Dynamics 13(4), 2010, pp. 843-860.
“Asset Pricing under Information-processing Constraints,”
(with Eric R. Young), Economics Letters Vol. 107, Issue 1, 2010, pp. 26-29.
“Risk-sensitive Consumption and Savings under Rational Inattention,”
(with Eric R. Young), American Economic Journal: Macroeconomics 2(4), 2010, pp. 281-325.
“A Note on Entrepreneurial Risk, Capital Market Imperfections, and Heterogeneity,”
(with Liutang Gong and Heng-fu Zou), Macroeconomic Dynamics 14(2), 2010, pp. 269-284.
“The Spirit of Capitalism and Excess Smoothness,”
(with Williams T. Smith and Heng-fu Zou), Annals of Economics and Finance 10(2), 2009, pp. 281-301.
“Rational Inattention and Aggregate Fluctuations,”
(with Eric R. Young), The B.E. Journal of Macroeconomics: Vol. 9: Iss. 1 (Contributions), 2009, Article 14.
“The Spirit of Capitalism, Precautionary Savings, and Consumption,”
(with Williams T. Smith and Heng-fu Zou), Journal of Money, Credit and Banking 41, 2009, pp. 543-554.
“The Demand for Status and the Wealth Distribution,”
(with Eric R. Young), Macroeconomic Dynamics 13 (1), 2009, pp. 1-30. (Lead Article)
“Consumption Dynamics under Information Processing Constraints,” Review of Economic Dynamics 11, 2008, pp. 366-385.
“Model Uncertainty, State Uncertainty, and State-Space Models,”
(with Jun Nie and Eric R. Young), in State Space Models --- Application in Economics and Finance, Springer-Verlag, 2012.
“Social Status and the Term Structure of Interest Rates in Stochastic Production Economies,”
(with Liutang Gong and Heng-fu Zou), in Economic Dynamics: Theory, Games and Empirical Studies, Nova Science Publisher, 2009.