Raymond Hill

Associate Professor Emeritus in the Practice of Finance Emory University, Goizueta Business School

  • Atlanta GA

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Biography

Raymond Hill joined Goizueta Business School in 2003 and teaches managerial economics and finance. Hill began his academic career by teaching economics at Princeton University, before leaving in 1982 to become an investment banker with Lehman Brothers. His work at Lehman included a seven year stay in Hong Kong as managing director of its investment banking business in Asia outside of Japan. Hill returned to his native Georgia in 1993 and worked for ten years at Mirant Corporation and its predecessor, a subsidiary of Southern Company. During that time he served as the company’s chief financial officer, except for an eighteen month stint as a CEO of one of the largest independent power companies in Asia, which was owned by Southern.

Hill earned his undergraduate degree at Princeton and his PhD in economics from MIT. He also studied at the Institut de Hautes Etudes Internationales in Geneva under the Fulbright Fellowship program.

Education

Massachusetts Institute of Technology

PhD

Economics

1978

Princeton University

BS

Economics

1969

Areas of Expertise

Project Finance
Macroeconomic and Monetary Policy
Energy Economics and Finance

Publications

The Massachusetts model of profit regulation in nonlife insurance: an appraisal and extensions

Fair rate of return in property-liability insurance

1987

In the late 1970s, a number of economists applied the Capital Asset Pricing Model (CAPM) to the problem of pricing insurance contracts (eg, Munch and Smallwood 1978, Fairley, 1979, and Hill 1979). The CAPM offered a means of systematically accounting for ...

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Profit regulation in property-liability insurance

The Bell Journal of Economics

1979

There has been substantial interest in the question of how (and whether) to allow for investment income in setting rates for property-liability insurers. In a sense this interest is premature, since the fair (ie, competitive) total profit for an insurance firm has not been ...

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Capital movements among major OECD countries: some preliminary results

The Journal of Finance

1971

This paper reports the preliminary results of a project aimed at developing an empirical model explaining capital flows among the major OECD countries. The work is based on the portfolio-equilibrium, stock-adjustment view of capital flows...

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Research Spotlight

1 min

What are the pros and cons of landing Amazon HQ2?

Thursday Atlanta appeared on the shortlist for Amazon's second corporate headquarters. What would that mean for the city? Two Goizueta experts break down the finance and the real estate angles. Source:

Raymond HillRoy Black

1 min

Is the Trump infrastructure plan built on rock or sand?

President Donald Trump will pitch plans for rebuilding roads, bridges, and highways this week. But are they solid? Goizueta's Ray Hill spent much of his career in industry working on large scale infrastructure projects. He also teaches a course on the topic. Source:

Raymond Hill

1 min

Superbowl Tax Breaks

Touchdown or an offensive foul? As Atlanta pursues the Superbowl – are $10 million tax breaks the right play for Georgia taxpayers? The experts from the Emory’s Goizueta Business School can help break it all down. Source:

Raymond HillThomas Smith
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In the News

Why are interest rates so low?

11Alive  tv

2021-06-03

Ray Hill of Emory’s Goizuta Business School says the Fed is focused on the unemployment rate.

“They’ve taken their foot off of the gas too soon in the past,” says Hill. “They don’t want to have interest rates go up until they see the unemployment rate come down more.”

Hill says low interest rates helped the country recover from the Great Recession that began in 2009. The Fed made changes that lifted the rate in 2015.

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Biden touts new plan that would expand train service in Georgia

FOX5 Atlanta  online

2021-04-30

However, Dr. Ray Hill, a Senior Lecturer in Finance at Emory University’s Goizueta Business School, said with the price tag of the expansion in the billions, the cost to taxpayers outweighs the benefit."

"We know that rail and particularly high-speed rail only works in very densely populated corridors in Japan, in the northeast of the United States, in places like that," Hill said in a phone interview. "It just makes no sense to spend public money on something like that.

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Black Leaders Say Big Georgia Companies Need To 'Speak Out Nationally' On Voter Law

NPR – All Things Considered  radio

2021-04-06

MOFFATT: Jackson has called on a boycott to start tomorrow. Ray Hill, a business professor at Emory University in Atlanta, says a boycott is not likely to put a dent in these companies' bottom lines, but it's also something they can't afford to ignore.

RAY HILL: So it's a very difficult thing for a CEO, I'd say. You concentrate. You're working on behalf of the shareholders, but you have to recognize that your company does not exist in a vacuum. And the interests of the shareholders in the long run are served by taking into account that political and social context.

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