Documento de trabajo: Does fiscal fragility make markets more inefficient? The exchange rate market in Costa Rica from 2007 to 2025
Ph.D. Miguel Cantillo Simón
Profesor en régimen académico con grado de instructor
Estudios:
MIT, B.S. en Economía, 1991
MIT, B.S. en Administración de Empresas (énfasis en Finanzas), 1991
Universidad de Stanford, Doctorado en Economía, 1995
Cursos que imparte:
Economía Financiera, Finanzas Corporativas
Cursos que ha impartido:
Organización Industrial, Teoría de Contratos
Publicaciones científicas más recientes:
• ''The Rise and Fall of Bank Control in the U.S. 1890-1939'' American Economic Review, Vol. 88, No. 5 (December) 1998, 1077-1093
• ''How do Firms choose their Lenders? An Empirical Investigation'' (con Julian Wright) Review of Financial Studies, Spring 2000, Vol. 13, No. 1, pp. 155-189.
• ''A Theory of Corporate Capital Structure and Investment,” Review of Financial Studies, Winter 2004, Vol. 17, No. 4, pp. 1103- 1128.
• "Dynamic Investment with Adverse Selection and Moral Hazard." SSRN Working Paper (2017).
• "Villains or Heroes? Private Banks and Railroads after the Sherman Act." SSRN Working Paper (2016).
• "Asset Pricing with Heterogenous Agents and Non-Tradeable Assets." SSRN Working Paper (2019).
• “Obtaining implied volatilities from the New York money market:1890 to 1934” SSRN Working Paper (2020).
• “Using long term implied volatilities to assess past and present U.S. stock prices”. SSRN Working Paper (2020).
• “Promocion de la competencia en beneficio del consumidor retos y avances” Academia de Centroamérica (Con Alan Thompson) (2021)
• Introducción a la Organización Industrial, Libro (2025)
• Finanzas Corporativas: Herramientas y Aplicaciones, Libro (2025)
• Principios de Economía Financiera, Libro (2025)
• “Market Power and Market Structure: An Analysis of Costa Rican Banking since 2008” SSRN Working Paper (Con Guillermo Pastrana y José Cascante) (2025)
• Imperfect Bank Competition, Borrower Adverse Selection, and the Transmission of Monetary Policy. SSRN Working Paper (2024).
• Does fiscal fragility make markets more inefficient? The exchange rate market in Costa Rica from 2007 to 2025. SSRN Working Paper (2025).
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