Texas Tech University

Scott E. Hein, Ph.D.

Scott E. Hein

Professor, Robert C. Brown Chair; Faculty Director - Finance

Education: Ph.D., Purdue University
Area of Expertise: Financial Economics, Financial Institutions, Banking, Financial Markets, Monetary Economics, Federal Reserve

Phone:  806.834.3433
Office Hours: By Appointment
Room Number: W302

Email: scott.hein@ttu.edu
Website:  http://hein.ba.ttu.edu

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About Professor Hein

Professor Hein was appointed to the Robert C. Brown Chair in Finance in the fall 2008 and serves as the Faculty Director of the Texas Tech School of Banking. He is also member of the Texas Tech Teaching Academy, and past recipient of the Texas Tech University Academic Achievement Award. Additionally, Professor Hein serves on the faculty of the Graduate School of Banking at Colorado, and the Southwestern Graduate School of Banking (at SMU). He is also co-author on a reference book, The Stock Market, with Rik W. Hafer, Greenwood Press. Professor Hein has won numerous teaching awards, including most recently the Jerry S. Rawls Excellence in Teaching Award (2007), and research awards.  Professor Hein is an Executive Co-Editor of the Journal of Financial Research.

Publications

BOOKS

  • The Stock Market, (2007), Rik W. Hafer and Scott E. Hein, Greenwood Press, Copyright, © 2007, ISBN 0-313-33824-8.

REFEREED JOURNAL AND FEDERAL RESERVE PUBLICATIONS 

  • Abrar M. Fitwi, Scott E. Hein and Jeffrey M. Mercer, “The U.S. Housing Price Bubble: Bernanke versus Taylor,”Journal of Economics and Business, 2015, V. 80. 62-80.
  • Kyle D. Allen, Mark D. Griffiths, Scott E. Hein and Drew B. Winters, “Why is the Effective Fed Funds Rate below the Theoretical Floor?”Journal of Applied Finance, 2014, V. 24, no. 2, pp. 61-69.
  • Timothy T. Perry and Scott E. Hein, “The Impact of Automation on Bid-Ask Spreads: Evidence from Eurodollar Futures, Review of Futures Markets, June 2012, V. 20, no.3, 207-241. 
  • Scott E. Hein, Timothy W. Koch, and Chrislain Nounamo, "Moving FDIC Insurance to an Asset-based Assessment System: Evidence from the Special Assessment of 2009,"Journal of Economics and Business, January/February 2012, V. 64, no. 1, 24-36.
  • Jonathan A. Scott and Scott E. Hein, "The Federal Home Loan Bank System: A Government Sponsored Enterprise that Avoided Conservatorship," Journal of AppliedFinance, 2011, V. 21, no. 1, 44-61.
  • B. T. Ewing, Scott E. Hein, and J. B. Kruse, “Insurer Stock Price Responses to Hurricane Floyd: An Event Study Analysis using Storm Characteristics,” Weather and Forecasting, (2006), 21-3, Pp. 395-407.
  • Scott E. Hein and Jeffrey M. Mercer, "Are Treasury Inflation Protected Securities Really Tax Disadvantaged?" Journal of Financial Research, (Winter 2006) V. 39-4, Pp. 575-592.
  • Keldon Bauer and Scott E. Hein, “The Effect of Heterogeneous Risk on the Early Adoption of Internet Banking Technologies,” Journal of Banking and Finance, (2006), V. 30-6, Pp. 1713-1725.
  • Guillermo Covarrubias, Bradley T. Ewing, Scott E. Hein, and Mark A. Thompson, “Modeling Volatility Changes in the 10-year Treasury,” Physica A, (2006) 369-2, Pp. 737-744.
  • Scott E. Hein, Timothy W. Koch and S. Scott MacDonald, "On the Uniqueness of Community Banks," Federal Reserve Bank of Atlanta, Economic Review (1st Quarter 2005).
  • Scott E. Hein and Peter Westfall, "Improving Tests of Abnormal Returns Significance Using the Event Parameter Estimation Approach," Journal of Financial Econometrics (2004), V.2-3, Pp. 451-471.
  • Jonathan D. Stewart and Scott E. Hein, “An Investigation of the Effect of the 1990 Reserve Requirement Change on Financial Asset Prices," Journal of Financial Research, (Fall 2002), Pp. 367-382.
  • William T. Chittenden and Scott E. Hein, "Tax Rates and the Long-run Equilibrium Relationship between Taxable and Tax-exempt Interest Rates," Journal of Economics and  Business (1999, 51-4). Pp. 327-46.
  • Sadhana Alangar and Scott E. Hein, "Nominal Interest Rates, Expected Inflation, and Varying Marginal Income Tax Rates," Applied Financial Economics (1999, 9). Pp. 209- 214.
  • W. Hafer, Joseph H. Haslag and Scott E. Hein, “Implementing Monetary Base Rules: The Currency Problem," Journal of Economics and Business, (December 1996), Pp. 461- 72.
  • Joseph H. Haslag and Scott E. Hein, "Constructing an Alternative Measure of Changes in Reserve Requirement Ratios," Federal Reserve Bank of Dallas, Economic Review (Third Quarter 1995).
  • Scott E. Hein, Timothy W. Koch, and S. Scott MacDonald, “The Changing Role of Commercial Banks in the Municipal Securities Market," Journal of Money, Credit and  Banking (August 1995) Pp. 894-906.
  • Joseph H. Haslag and Scott E. Hein, "Does it Matter How Monetary Policy is Implemented?" Journal of Monetary Economics, (April 1995), Pp. 359-86.
  • Joseph H. Haslag and Scott E. Hein,"Quasi-Balance Sheet Measures of U.S. Monetary Policy: A Closer Look," Journal of Money, Credit and Banking (February 1995), Pp. 124- 39.
  • R.W. Hafer, Joseph H. Haslag, and Scott E. Hein, “Monetary Policy and Recent Business-Cycle Experience," Federal Reserve Bank of Dallas, Economic Review (Third Quarter 1994), Pp. 14-28.
  • Jose Mercado-Mendez and Scott E. Hein, “The Effect of Two Monetary Base Announcements on Financial Markets," Quarterly Journal of Business and Economics (autumn 1994), Pp. 13-26.
  • Thomas R. Hamilton, Scott E. Hein and Timothy W. Koch, “The Pricing of the Municipal Bond Index Futures," Journal of Future Markets (August 1994), Pp. 575-596.
  • Scott MacDonald and Scott E. Hein, "An Empirical Evaluation of Treasury Bill Futures Market Efficiency Evidence from Weak-form Tests," The Journal of FuturesMarkets (April 1993) Pp. 199-211.
  • Scott E. Hein and Jose Mercado-Mendez, "The Credit View, Financial Announcements and Interest Rate Responses," Journal of Banking and Finance (August, 1992) Pp. 743- 56.
  • R.W. Hafer, Scott E. Hein and S. Scott MacDonald, "Comparing One-Quarter Ahead Forecasts of the Three-Month Treasury Bill Rate," Journal of Business (January 1992) Pp. 123-38.
  • Gail Heyne Hafer, R. W. Hafer, and Scott E. Hein, "Evaluating Inflation Forecasts Derived from Interest Rate and Time and Time Series Models," Applied FinancialEconomics (1992) Pp.229-35.
  • Joseph H. Haslag and Scott E. Hein, "Macroeconomic Activity and Monetary Policy Actions: Some Preliminary Evidence," Journal of Money, Credit and Banking (November, 1992) Pp. 431-46.
  • Scott E. Hein and Jeffrey M. Mercer, “Taxable and Tax-Exempt Interest Rates: The Link with Inflation," Economics Letters (June 1991), Pp. 327-32.
  • Joseph H. Haslag and Scott E. Hein, "Economic Activity and Two Monetary Base Measure," Review of Economics and Statistics (November 1990), Pp. 672-76.
  • Scott E. Hein, K. C. Ma and S. Scott MacDonald, “Testing the Unbiasedness in the Future Market: A Clarification," Journal of Futures Markets (October 1990), Pp. 555-62.
  • Robert E. Chatfield, Scott E. Hein and R. Charles Moyer," Long-Term Earnings Forecasts in the Electric Utility Industry," Financial Review (August 1990), Pp. 421-39.
  • R.W. Hafer and Scott E. Hein, "Forecasting Inflation Using Interest Rates and Time Series Models, Some International Evidence," Journal of Business (January 1990), Pp. 1- 17.
  • Joseph H. Haslag and Scott E. Hein, “Federal Reserve System Reserve Requirements: 1959 - 88: A Note" Journal of Money, Credit and Banking (November 1989), Pp. 515-523.
  • W. Hafer and Scott E. Hein "Comparing Futures and Survey Forecasts of Near-Term Treasury Bill Rates,", Federal Reserve Bank of St. Louis Review (May/June 1989), Pp. 33-42.
  • Scott MacDonald and Scott E. Hein, "Futures Rates and Forward Rates as Predictors of Near-Term Treasury Bill Rates," Journal of Futures Markets (June 1989), Pp. 249-62.
  • Joseph H. Haslag and Scott E. Hein, “Reserve Requirements, the Monetary Base, and Economic Activity," Federal Reserve Bank of Dallas Economic Review (March 1989), Pp. 1-15.
  • Scott E. Hein and Raymond E. Spudeck, "Forecasting the Daily Federal Funds Rate," International Journal of Forecasting (December 1988), Pp. 581-91.
  • R.W. Hafer and Scott E. Hein, "Further Evidence on the Relationship between Federal Government Debt and Inflation," Economic Inquiry (April 1988), Pp. 239-51.
  • Scott E. Hein, "Monetary Announcements and Interest Rate Responses," Southern  Economic Journal (January, 1987), Pp. 615-626.
  • R.W. Hafer and Scott E. Hein, "On the Accuracy of Time Series, Interest Rate and Survey Forecasts of Inflation," Journal of Business (October 1985), Pp. 377-98.
  • “Scott E. Hein, "The Response of Short-Term Interest Rates to Weekly Money Supply Announcements: A Comment, Journal of Money, Credit and Banking (May 1985), Pp. 264-71.
  • R.W. Hafer and Scott E. Hein, "Predicting the Money Multiplier: Forecasts From Component and Aggregate Models," Journal of Monetary Economics (November 1984), Pp. 375-84.
  • R.W. Hafer and Scott E. Hein, "Financial Innovations and the Interest Elasticity of Money Demand: Some Historical Evidence," Journal of Money, Credit and Banking (May 1984), Pp. 247-52.
  • Scott E. Hein and Mack Ott,"Seasonally Adjusting Money: Procedures, Problems Proposals," Federal Reserve Bank of St. Louis Review(November 1983), Pp. 16-25.
  • Scott E. Hein and Paul T.W.M. Veugelers, "Predicting Velocity Growth: A Time Series Perspective," Federal Reserve Bank of St. Louis Review (October 1983), Pp. 34-43.
  • R.W. Hafer, Scott E. Hein and Clemens J.M. Kool, "Forecasting the Money Multiplier: Implications for Money Stock Control," Federal Reserve Bank of St. Louis Review (October 1983), Pp. 22-33.
  • R. W. Hafer and Scott E. Hein, "The Wayward Money Supply: A post-mortem of 1982," Federal Reserve Bank of St. Louis Review(March 1983), Pp. 17-25.
  • Keith M. Carlson and Scott E. Hein, "Four Econometric Models and Monetary Policy: The Longer-Run View," Federal Reserve Bank of St. Louis Review (January 1983), Pp. 13-24.
  • R.W. Hafer and Scott E. Hein, "The Stability of the Demand for Money: Evidence From the Post-1973 Period: A Comment," Review of Economics and Statistics (May 1982), Pp. 355-57.
  • Scott E. Hein, “Short-Run Money Growth Volatility: Evidence of Misbehaving Money Demand?" Federal Reserve Bank of St. Louis Review (June/July 1982), Pp. 27-36.
  • R.W. Hafer and Scott E. Hein, “Monetary Policy and Short-Term Real Rates of Interest," Federal Reserve Bank of St. Louis Review (March 1982), Pp. 13-19.
  • R.W. Hafer and Scott E. Hein, "The Shift in Money Demand: What Really Happened?" Federal Reserve Bank of St. Louis Review  (February 1982), Pp. 11-16. 
  • Scott E. Hein and James Lamb, "Why The Median Priced Home Costs So Much," Federal Reserve Bank of St. Louis Review (June/July 1981), Pp.11-19.
  • Scott E. Hein, "Deficits and Inflation," Federal Reserve Bank of St. Louis Review (March 1981), Pp. 3-10.
  • Keith M. Carlson and Scott E. Hein, "Monetary Aggregates as Monetary Indicators," Federal Reserve Bank of St. Louis Review(November 1980), Pp. 12-21.
  • Scott E. Hein, "Dynamic Forecasting and the Demand for Money," Federal Reserve Bank of St. Louis Review (June/July 1980) Pp. 13-23.
  • R.W. Hafer and Scott E. Hein,"The Dynamics and Estimation of Short-Run Money Demand," Federal Reserve Bank of St. Louis Review (March 1980), Pp. 26-35.
  • R.W. Hafer and Scott E. Hein, "Empirical Evidence on the Temporal Stability of the Demand for Money Relationship in the United States," Federal Reserve Bank of St. Louis Review (December 1979), Pp. 3-14.

 OTHER SELECTED PUBLICATIONS

  • "Low inflation is still too high for bank depositors," Scott E. Hein, American Banker, July 31, 2015.
  • “The Simple Fix for the Repo Market,” Scott Hein and Drew Winters, American Banker, September 9, 2014.
  • “Why the Fed would Flunk its Own Stress Tests,” Scott E. Hein, American Banker, April 17, 2014.
  • “Viewpoint: What Bernanke Should Have Told Congress,” Scott E. Hein, American  Banker, March 17, 2010.
  • “Viewpoint: FDIC Prepayment Plan is an Economic Loser,” American Banker, Scott Hein and Timothy Koch, November 13, 2009.
  • “Viewpoint: Tarp would cost S Corporation Banks too much,” American Banker, Scott E. Hein and Timothy W. Koch, May 22, 2009, p. 9.
  • "Using World Wide Web Utilities to Engage Students in Money, Banking and Credit," Scott E. Hein and Katherine Austin Stalcup, Journal of Education for Business (January/February 2001, 76-3), Pp. 167-172.
  • "A Reexamination of the Costs and Benefits of Deposit Insurance," Scott E. Hein, Business Economics (July 1992), Vol. 27, Pp. 26-31.
  • "Financial Innovation and Measurement of Monetary Aggregates: A Discussion," Scott E. Hein, Financial Innovations (Kluwer-Nijhoff, 1984) Pp. 99-119.
  • "Markets’ Reaction to Money Supply Better Founded than Critics Suggest," Scott E. Hein, American Banker, (November 30, 1983, vol. 234) Pp. 4 and 6.
  • "On the Monetization of Deficits: A Discussion," Scott E. Hein, The EconomicConsequences of Government Deficits," edited by Lawrence H. Meyer (Kluwer-Nijhoff, 1983) Pp. 75-85.
  • "The Conventional Mortgage in an Inflationary Environment," Dallas S. Batten and Scott E. Hein, Mortgage Banker (October 1982).
  • "Futures Rates and Forward Rates as Predictors of Near-Term Treasury Bill Rates," S. Scott MacDonald and Scott E. Hein, abstracted in The CFA Digest (Fall 1989).

OPINION PIECES

Current Research

 

  • The Evolution of the Federal Reserve’s Term Auction Facility and Community Bank Utilization,” Kyle Allen, Scott Hein and Matthew Whitledge, SSRN working paper.
  •  “The Federal Reserve’s Effort to Keep Lending Information Private during the Financial Crisis,” Benjamin M. Blau, Scott E. Hein and Ryan J. Whitby, current working paper, April 2015.
  • Undisclosed Central Bank Lending and Stock Returns,” Benjamin M. Blau, Scott E. Hein and Ryan J. Whitby, current working paper, May 2014.
  •  “The Impact of Taxes and Ownership on the Performance and Capital Structure of S Corporation Banks,” Ken B. Cyree, Scott E. Hein and Timothy W. Koch, current working paper 2010.
  •  “Correlation of Stock Returns and Bond Yield Changes as a Proxy for Default Risk,” Ilhan Demiralp and Scott E. Hein, presented Financial Management Association, 2009, current working paper  June 2010.

Awards and Honors

  • James, D. Eppler Economic Citizenship Award, 2013, Lubbock Economics Council, 2013.
  • Southwestern Graduate School of Banking Distinguished Service Award, SWGSB, 2013.
  • Rawls Excellence in Teaching Award, the top teaching award in the Rawls College of Business, 2007-2008.
  • Finance Educator of the Year, 2004, Southwestern Finance Association
  • President's Academic Achievement Award, Texas Tech University, 2001-2002.
  • President's Excellence in Teaching Award, Texas Tech University, 2000-2001.
  • College of Business Administration, Texas Tech University Outstanding Research Award, 1998-1999.
  • Texas Tech University Finance Association, Professor of the Year 1997.
  • Outstanding Research Award, Texas Tech University, 1992-1993.
  • College of Business Administration Research Award, Texas Tech University, 1988-1989.

 

Contact

Rawls College of Business