hillary.stein@bos.frb.org
Personal Website
Biography
Hillary Stein is an economist in the Federal Reserve Bank of Boston Research Department. She joined the Boston Fed in 2022 after earning her PhD in political economy and government from Harvard University. Her fields of research are international finance and macroeconomics, international political economy, and trade.
Stein has a BA in applied mathematics from Harvard University.
Work Experience
Federal Reserve Bank of Boston
Economist, 2022–
Education
PhD, political economy and government, Harvard University, 2022
BA, applied mathematics, Harvard University, 2014
Primary fields of research
International finance and macroeconomics, international political economy, and trade
Publications
Journal articles
“Got Milk? The Effect of Export Price Shocks on Exchange Rates.” Forthcoming. Journal of International Economics.
Working papers
“Evidence That Relaxing Dealers’ Risk Constraints Can Make the Treasury Market More Liquid,” with Falk Bräuning. 2025. Federal Reserve Bank of Boston Current Policy Perspectives 25-4.
“The Impact of Tariffs on Inflation,” with Omar Barbiero. 2025. Federal Reserve Bank of Boston Current Policy Perspectives 25-2.
“The Impact of Global Shipping Cost Surges on US Import Price Inflation,” with Leslie Sheng Shen. 2024. Federal Reserve Bank of Boston Current Policy Perspectives 24-6
“Dealer Risk Limits and Currency Returns,” with Omar Barbiero, Falk Bräuning, and Gustavo Joaquim. 2024. Federal Reserve Bank of Boston Research Department Working Papers No. 24-11. https://doi.org/10.29412/res.wp.2024.11
“The Effect of Primary Dealer Constraints on Intermediation in the Treasury Market,” with Falk Bräuning. 2024. Federal Reserve Bank of Boston Research Department Working Papers No. 24-7. https://doi.org/10.29412/res.wp.2024.07
“Interest Expenses, Coverage Ratio, and Firm Distress,” with Falk Bräuning and Gustavo Joaquim. 2023. Federal Reserve Bank of Boston Current Policy Perspectives, August 29, 2023.
“Risk Management and Derivatives Losses,” with Gabriel Levin-Konigsberg, Hillary Stein, Vicente García Averell, and Calixto López Castañon. 2023. Federal Reserve Bank of Boston Research Department Working Papers No. 23-8. https://doi.org/10.29412/res.wp.2023.08
Stein, Hillary. 2023. “Got Milk? The Effect of Export Price Shocks on Exchange Rates.” Federal Reserve Bank of Boston Research Department Working Papers No. 23-1. https://doi.org/10.29412/res.wp.2023.01