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Rawley Z. Heimer

Research Economist

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Rawley Heimer is a research economist in the Research Department of the Federal Reserve Bank of Cleveland. He studies individuals' financial decisions in risky asset markets and conventional debt markets. This research shows that social networks and low-probability events are crucial in developing distorted beliefs, which leads to trading mistakes and other costly financial errors. His research has been published or is forthcoming in leading academic journals such as Review of Financial Studies, World Bank Economic Review, and Journal of Economic Behavior and Organization. His research has also been covered in popular outlets such as the Wall Street Journal, Quartz, TheStreet, and MarketWatch.

Prior to joining the Cleveland Reserve Bank, Dr. Heimer was a lecturer at Brandeis University and held research positions at the Bureau of Labor Statistics and Montana State University.

Dr. Heimer earned a bachelor's degree in economics from the University of Rochester and a PhD in international economics and finance at Brandeis University. In a former life, he was an accomplished guitarist.