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I’m Amy Wang Huber

Finance PhD Business Consultant Triathlete
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A BIT ABOUT ME

Born in China, raised in Canada, educated in the U.S., I lived and worked in the U.A.E before coming to grad school for a Ph.D in Finance.

My experiences around the globe let me see the disproportionate influence wielded by large institutions. My research therefore examines the impact of large financial intermediaries on asset prices, employing both traditional asset pricing theories and tools from industrial organization.

Leveraging my knowledge of the financial markets, I help executives and companies navigate issues in corporate finance and capital markets.

Outside of research, I’m a triathlon enthusiast, long-time piano player, and happy wife of fellow economist Stefan Huber.

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EDUCATION

  • Harvard College

    A.B. in Economics, minor in Statistics, citation in French

    Magna cum laude. Phi Beta Kappa. 3x John Harvard Scholar.

  • CFA Institute

    Chartered Financial Analyst (CFA)

    Completed all 3 levels of CFA exams in 2 years while working full-time.

  • Stanford Graduate School of Business

    Ph.D. in Finance (expected)

    Financial intermediation. International asset pricing. Macro-finance. Structural estimation.

EXPERIENCE

  • McKinsey & Company

    Business Analyst

    Cash flow modeling and scenario planning. Strategy revamp. Project management.

  • Abu Dhabi Investment Authority (ADIA)

    Private Equity Associate

    ADIA-wide portfolio allocation. Primary and secondary fund investments. Direct investments.

  • Independent Consultant

    Ongoing

    Financial product feasibility analysis. Board presentation design. Middle East business opportunity introductions.

RESEARCH

  • All Items
  • Working paper

Are Intermediary Constraints Priced?

with Wenxin Du and Benjamin H├ębert

Violations of no-arbitrage conditions measure the shadow cost of intermediary constraints. Intermediary asset pricing and intertemporal hedging together imply that the risk of these constraints tightening is priced. We describe a “forward CIP trading strategy” that bets on CIP violations shrinking and show that its returns help identify the price of this risk. This strategy yields the highest returns for currency pairs associated with the carry trade. The strategy’s risk contributes substantially to the volatility of the stochastic discount factor, is correlated with both other near-arbitrages and intermediary wealth measures, and appears to be priced consistently across various asset classes.

Lender Preference, Borrower Market Power, and the Effect of RRP

I model and structurally estimate the equilibrium rates and volumes on the Triparty repo market to study the monetary transmission to this key financial market. I show that even within this highly liquid and sophisticated market, financial intermediaries hold substantial market power and command about 85% of the total surplus. I further show through counterfactual exercises that the Federal Reserve’s Reverse Repo Facility was instrumental in keeping the Triparty repo rate above policy target: without it, intermediaries' markdown would widen, leaving the Triparty repo rate about 12 bps (34%) below policy target and lower the passthrough rate to the broader financial market by about 6 bps.

PERSONAL

COUNTRIES VISITED

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COUNTRIES VISITED

KM RAN IN GRAD SCHOOL

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KM RAN IN GRAD SCHOOL

NIGHTS OF GIRL SCOUNT CAMPING

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NIGHTS OF GIRL SCOUNT CAMPING

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