May
Heather Tierney, Ph.D.
Assistant Professor of Economics
Purdue University Fort Wayne
For our May 2019 member of the month, the International Atlantic Economic Society welcomes Assistant Professor of Economics Heather Tierney. Dr. Tierney joined Purdue University Fort Wayne in 2018. Previously, she was an Assistant Professor at Indiana University-Purdue University Fort Wayne. Dr. Tierney received her Ph.D. and Masters degree in Economics in 2005 from the University of California, Riverside. Her research focuses on nonparametric econometrics, time series econometrics, real-time data, search engine data, monetary policy, applied macroeconomics, and data-driven modeling.
Why did you become a member of the International Atlantic Economic Society?
I became interested in the International Atlantic Economic Society (IAES) because of their conferences and their support for future economists. Since the IAES is an international society, their conferences attract top researchers from around the world in many different specializations. These conferences also incorporate teaching and research, which only a handful of conferences do. I also appreciate the IAES for having an award for the best undergraduate paper, which encourages and attracts talented and hardworking young people to the field of economics.
What types of projects/research are you currently working on and what inspired/motivated you to pursue these interests?
Currently, I am working on further developing my nonparametric tool kit as it relates to monetary policy. One of the main reasons that I am drawn to nonparametric econometrics is that is it very much data-driven, in the sense, that it requires as few assumptions as possible when constructing an econometric model. So, you are able to derive time-varying parameters with minimal assumptions on the structural form. More specifically, I am working on developing a nonparametric Taylor Rule, which could be beneficial, since it captures both inflation and output gaps using time-varying parameters that could be useful in forming monetary policy decisions.
What advice would you give to someone who is considering entering your line of work/field of study?
I would encourage students to be open-minded and to have strong math skills. Being open-minded helps with abstract thinking and to gain inspiration from other fields. I would also encourage students to remember that economic time series are not just numbers. There are real people behind these statistics and it is these people that we are trying to help.
Going forward, what other projects/research are you looking to or hoping to pursue?
In the near future, I would like to look into producing statistical techniques that can help to identify economic bubbles. Since the financial sector is interwoven into U.S. monetary policy, I think the development of micro- and macro-prudential policies are greatly needed.
What’s your favorite hobby?
I am a very big movie fan. I enjoy watching and discussing movies. I think I picked this up having grown up in the Los Feliz neighborhood in Los Angeles, where a great number of people tied to the movie industry lived. My students think I have bad taste when it comes to movies because I really enjoy a good campy B sci-fi movie or action flick. I appreciate the Oscar-nominated films as well.