About I am a Principal Economist at the Federal Reserve Bank of Boston, a visiting scholar at the MIT Golub Center for Finance and Policy, and a visiting faculty at Harvard University. My research focuses on international finance, financial intermediation, and macroeconomics, with work spanning financial and banking globalization, geopolitical risk and geoeconomic linkages, and household consumption and labor markets. I received my Ph.D. in Economics from the University of California, Berkeley.
View my curriculum vitae here.
Contact Information
Email:
lshengshen@gmail.com
lesliesheng.shen@bos.frb.org
lsshen1@mit.edu Phone: +1-216-577-8309
Publications
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Local Effects of Global Capital Flows: A China Shock in the U.S. Housing Market,
with Zhimin Li and Calvin Zhang,
Review of Financial Studies,
37(3), 761–801, 2024.
- In media: Macro Musings, Boston Fed, Caixin
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Scarred Consumption,
with Ulrike Malmendier,
AEJ: Macroeconomics,
16(1), 322–355, 2024.
- In media: VoxEU, The Economist, Financial Times, Washington Post, Fortune, MarketWatch
Working Papers
- Fiscal Insurance, with Nancy Xu.
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Geopolitical Risk and Global Banking,
with Friederike Niepmann.
- In Media: Le Monde, Boston Fed, S&P Global
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Risk Sharing and Amplification in the Global Financial Network,
with Tony Zhang.
- Revise and Resubmit, AEJ: Macroeconomics
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Global Banking and Firm Financing: A Double Adverse Selection Problem.
- Winner of the Young Economists’ Competition, ECB Forum on Central Banking
- Self-Reinforcing Glass Ceilings, with Carlos Avenancio-Leon and Alessio Piccolo.
Book Chapters & Policy Writings
- Measuring Geopolitical Risk Exposure Across Industries: A Firm-Centered Approach , with Isabel Culver and Friederike Niepmann. FEDS Notes, Board of Governors of the Federal Reserve System.
- How Firms’ Perceptions of Geopolitical Risk Affect Investment. Federal Reserve Bank of Boston Current Policy Perspectives.
- The Impact of Global Shipping Cost Surges on US Import Price Inflation, with Hillary Stein. Federal Reserve Bank of Boston Current Policy Perspectives.
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Dollar Funding Stresses in China,
with Laura Kodres and Darrell Duffie. In Fault Lines After COVID-19: Global Economic Challenges and Opportunities (pp. 109–131). Cham: Springer Nature Switzerland, 2023.
- In Media: VoxChina, Boston Fed, Business Insider
- International Spillovers on Government Bond Yields: Are We All in the Same Boat?, with Vivian Yue. Liberty Street Economics.
Permanent Working Papers
- Consumption Quality and the Welfare Implications of Business Cycle Fluctuations, with Casper Nordal Jørgensen.