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Lina Thomas: latest PhD graduate at the Department of Economics

Department of Economics is proud to present its latest PhD graduate: Lina Thomas. She has successfully defended her thesis on the 11th of December, and we congratulate her on this momentous achievement. Congratulations, Lina!

Lina Thomas’ dissertation is entitled “Global Financial Dynamics”. As the title suggests, Lina’s research concerns the dynamics that shape financial markets. While global markets are impacted by big decisions in Washington D.C., these very markets are also moved by the choices of individual investors, guided by their beliefs, biases, and emotions. It is this interplay between macro-level policies and micro-level decisions that drives financial markets.

On the macro side, the US has a substantial influence on the global economy. In Ripple Effect, Lina examines how shifts in US monetary policy reverberate across international markets. Meanwhile, in Stubborn Dollarization in Emerging Markets and Heterogeneous Currency Risk, she sheds light on domestic dollarization, investigating its roots, risks, and the ramifications of US dollar fluctuations on economies abroad.

Turning to the micro level, Legacy Liability in the Green Transition outlines biases in human perception affecting their financial choices; and offers strategies for firms to effectively navigate them. Specifically, she examines how a firm’s ties to outdated technologies impact investor trust during green transitions, and finds that creating a spin-off is most effective for major shifts.

From the ripples caused by the Fed’s interest rate hikes that spread across the global economy, the origins and perils of dollarization, to the subtle behavioral biases affecting sustainable investment, Lina’s work is grounded in the realities of the financial world. It’s about getting to the heart of why markets move the way they do and why investors often make the choices they do.

In addition to her scholarly contributions, Lina has actively engaged in the broader dissemination of research and academic findings. During her doctoral studies, she held a research fellowship at Harvard University, where she taught macroeconomics and American economic policy. She has also contributed to policy discussions at the Swedish Riksbank and has been featured in outlets like the Financial Times.  

Dept. of Economics