Economist @BostonFed, PhD @HarvardEcon, researching international finance and macro. Disclaimer: all activity reflects my own views.
Joined July 2020
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How do tariffs impact consumer inflation? We introduce a new methodology with two key insights: (1) domestically-produced goods also contain imported components, and (2) it is important to take into account how markups respond to cost changes of imported components.
We estimate that a 25% tariff on Canada and Mexico combined with a 10% tariff on China could add 0.5 to 0.8 percentage point to core PCE inflation. Read more here: bostonfed.org/publications/c…
Falk and I had the opportunity to discuss our research with Faculti - check it out!
Falk Bräuning and Hillary Stein @SteinHillary Federal Reserve Bank of Boston @BostonFed discuss the extent to which the Treasury securities market can be affected by regulatory constraints on primary dealers, a select group of market-making financial firms that are typically affiliated with large banking organizations faculti.net/the-effect-of-pr… #economics #treasuries #securities #finance #macroeconomics #centralbank #federalreserve #fed #econtwitter
Hillary Stein retweeted
Researchers theorize that banks’ risk-bearing constraints can affect exchange rate dynamics. A new paper by Boston Fed economists Falk Brauning, Omar Barbiero, and Hillary Stein provides empirical support for this theory. Read the paper: bit.ly/3TTOFTO
In my new @BostonFed working paper, we leverage supervisory microdata to show that shocks to global banks' risk limits have sizable effects on exchange rates, exacerbating the effects from shifts in net currency demand: bostonfed.org/publications/r…
Looking forward to presenting at this week's IMIM online seminar! sites.google.com/view/imimse…
Shocks to primary dealers’ constraints can impair liquidity in the Treasuries market. See my new Boston Fed working paper with Falk Bräuning:
How might regulatory constraints affect liquidity in the Treasury securities market? A new paper by Boston Fed economists @SteinHillary and Falk Bräuning studies this question: bit.ly/3Y9alhP
Always fun to see our work cited
Breakingviews - Higher rates insidiously creep into the boardroom reut.rs/48qPqYX reut.rs/48qPqYX
New working paper online, looking at currency derivatives in Mexico
The larger a firm’s losses from a derivatives position, the smaller the likelihood of the firm taking a new position, according to a new paper coauthored by Boston Fed economist @SteinHillary on nonfinancial corporate risk management.
Read the paper: bit.ly/3R4TN7l
Happy to see my JMP as part of the Boston Fed working paper series!
The Boston Fed recently posted a new working paper by economist @SteinHillary that focuses on the dairy auctions of New Zealand to study the effects of export price shocks on exchange rates. Read the working paper here: bit.ly/3Z6QQE6
@DairyNZ #priceshocks #exchangerates
I’m happy to have successfully defended my dissertation today, and I’m thrilled to be joining @BostonFed after graduation.
I am so grateful for the years of support from my advisors / committee members: @krogoff, @pol_antras, @jafrieden, @JFrankelEcon, and Jeremy Stein.
My officemates @scarmitage, @AllbriteAllday, and @tianwang_liu are on the market. Inspiring research, and (more importantly) amazing people who I’m lucky to have had supporting me.
What an officemate! Here's a bit about @AllbriteAllday, the fourth ⭐️ of our office (using all the Twitter tips she patiently taught us).
Alex *loves data.* Her data viz skills are the best of the best. We all use her blog thelittledataset.com/ for inspiration.
Thank you very much, @pol_antras, for this description of my work and my JMP!
Hillary Stein (@SteinHillary) is an economist with broad interests in International Macro & Finance, Int'l Trade, and Int'l Political Economy. Her work is largely empirical in nature and seeks to develop credible identification in macro settings. (1/9)
scholar.harvard.edu/hillarys…
Thank you @jenniferdoleac for sharing my Job Market Paper!
Hillary Stein
JMP: "Got Milk? The Effect of Export Price Shocks On Exchange Rates"
Website: scholar.harvard.edu/hillarys…
