Ziyue Yang

First-year PhD student in Finance at the Wharton School, University of Pennsylvania.

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Research

Latest

Ramsey Plan for Calvo’s Model

Quarterly Review (Federal Reserve Bank of Minneapolis), 2025

New working paper

How Should I Trade? Stationary Nash, Self-Confirming, and Learned Equilibria in Kiyotaki–Wright Exchange Economies

Compares stationary Nash, self-confirming, and learned equilibria in a Kiyotaki–Wright exchange economy where agents learn a medium of exchange from bilateral encounters.

June 2026

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