Two distinguished economists have joined the Associated Industries of Massachusetts Board of Economic Advisors (BEA).

Simona M. Mocuta, Chief Economist at State Street Global Advisors, and Olena Staveley-O’Carroll, Associate Professor of Economics at the College of the Holy Cross, join a group of experts who oversee the monthly AIM Business Confidence Index and advise AIM about public-policy issues affecting the economy. The group is chaired by Sara Johnson, retired Executive Director of Global Economics at S&P Global Market Intelligence.

Simona Mocuta shapes the State Street Global Advisors team’s view on key global economic developments and trends, produces forecasts and analysis for the G7 economies and key emerging markets, and presents these views to internal investment teams, clients, and the media. She is the lead author of the Weekly Economic Perspectives, produces thought leadership articles on a wide range of macroeconomic topics, and is a regular speaker at financial industry events. Simona is the current chair of the Economic Advisory Committee of the American Bankers Association.

Prior to joining State Street, Ms. Mocuta led the Asia macroeconomic practice at IHS Global Insight, where she oversaw the team’s long-term economic forecasts and risk assessments for Asian countries and led the enhancement of the China Regional Economic Service.

She holds a master’s degree in international economics from Suffolk University, and an undergraduate degree in International Economic Relations from West University of Timisoara, Romania.

Olena Staveley-O’Carroll holds a Ph.D. and M.A. in Economics from Georgetown University and a B.A., degree in Economics, Mathematics and Chemistry from Lakeland University in Wisconsin. Her areas of academic concentration include open-economy macroeconomics, international capital movements and monetary policy.

Dr. Staveley-O’Carroll became an Associate Professor of Economics at Holy Cross in 2021. She was previously Assistant Professor of Economics from 2015–2021 and Assistant Professor of Economics at the University of Richmond from 2008–2015.

Her research articles, which examine the macroeconomic implications of risk, have appeared in highly respected, peer-reviewed outlets. Recent publications include: Do sovereign credit ratings matter? The relationship between ratings and capital flows before and after the great recession and International Welfare Spillovers of National Pension Schemes.

“Our two new members bring valuable perspectives and innovative ideas to the AIM Board of Economic Advisors as we track the progress of the Massachusetts economy,” said Johnson, the BEA chair.

The monthly AIM Business Confidence Index currently sits at 49.7, just below the 50 mark that separates optimistic from pessimistic outlooks. The Index, based on a survey of more than 140 Massachusetts employers, has appeared monthly since July 1991. The Index reached its historic high of 68.5 on two occasions in 1997-98, and its all-time low of 33.3 in February 2009.

Other members of the BEA include Vice Chair Michael A. Tyler, Chief Investment Officer, Eastern Bank Wealth Management; Marcelo Suárez–Orozco, Ph.D., Chancellor, University of Massachusetts, Boston; Alan Clayton-Matthews, Ph.D., Professor Emeritus of Economics & Public Policy, Northeastern University and Senior Contributing Editor at MassBenchmarks; Edward H. Pendergast, Managing Director, Dunn Rush & Co.; Elmore Alexander, Dean Emeritus, Ricciardi College of Business, Bridgewater State University; Nada Sanders, Ph.D., Distinguished Professor of Supply Chain Management, Northeastern University; Michael D. Goodman, Ph.D., Professor of Public Policy, UMass Dartmouth; Suzanne Dwyer, President, Massachusetts Capital Resource Company; Jim Sibley, Regional Commissioner, Bureau of Labor Statistics; Barry Bluestone, Ph.D., Professor of Public Policy and Urban Affairs (retired), Northeastern University; Raymond G. Torto (Emeritus), Ph.D., CRE, Harvard Graduate School of Design; John R. Regan, CEO, Associated Industries of Massachusetts; and Brooke M. Thomson, President, Associated Industries of Massachusetts.