Santiago Bazdresch

Assistant Professor
Finance, Carlson
3-135 CarlSMgmt
612/624-6081
santiago@umn.edu

Biography
Selected Works
Courses
Current Activities

Santiago Bazdresch is an Assistant Professor at the Finance Department at the Carlson School of Management, University of Minnesota. His research interests include understanding the dynamic features of firms' behavior in terms of their corporate finance decisions and in terms of the riskiness of claims on their cash flows. Within this area of research, he has studied how costs of financial transactions affect the dynamics of a firm's capital structure, how the hiring or firing of workers is associated with a firm´s systematic risk, how to evaluate quantitative capital structure models and how product differentiation is related to systematic risk. He is also interested in international finance topics. Within this area he has studied the stochastic properties of the peso/dollar exchange rate, the contagion of international financial crises and how financial flows into a country affect the labor market and firms' characteristics. He holds a BA in Applied Math from ITAM and a PhD in Economics from Yale University and previously worked at the central bank of Mexico.

The Role of Non-Convex Costs in Firm’s Financial Dynamics, Journal of Economic Dynamics and Control, 2013, forthcoming.

"Regime Switching Models for the Mexican Peso," Santiago Bazdresch and Alejandro Werner, Journal of International Economics (January 2005).

"Contagion of International Financial Crises: The Case of Mexico," Santiago Bazdresch and Alejandro Werner, International Financial Contagion, eds. Stijn Claessens and Kristin Forbes (Kluwer Academic, 2001).

Labor Hiring, Investment and Stock Return Predictability in the Cross Section

Finance and Employment Formalization: Evidence from Mexico's Income-Expenditure Surveys, 2000-2010

"Moderate Inflation and Instability in the Inflationary Process," Santiago Bazdresch and Alejandro Werner, El Trimestre Economico (October 2001).

Product Differentiation and Systematic Risk: Theory and Empirical Evidence

Empirical Policy Functions as Benchmarks for Evaluation of Dynamic Capital Structure Models

Fall 2012

FINA 4621 The Global Economy (Macro) Sec. 001
FINA 4621 The Global Economy (Macro) Sec. 002

Spring 2013

FINA 4522 Options & Derivatives I Sec. 001
FINA 4621 The Global Economy (Macro) Sec. 001
FINA 4621 The Global Economy (Macro) Sec. 002

Fall 2013

FINA 4621 The Global Economy (Macro) Sec. 001
FINA 4621 The Global Economy (Macro) Sec. 002

Dynamic models of firms' corporate finance and investment decisions

Models of firms' characteristics, idiosyncratic and systematic riskiness and the cross section of expected returns.

Financial development in Mexico: financial contagion, exchange rates, the effects of financial slack on firms and employment, and the evolution of local debt markets.

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Education

Ph.D., 2007
Economics
Yale University, New Haven, CT

B.A., 2000
Applied Mathematics
ITAM, Mexico City, Mexico

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