CV | [ PDF ]


Financial Intermediation, Corporate Finance, International Finance


Financial Crises, Financial History, International Contagion


gustavo.cortes [at] warrington.ufl.edugustavocortesgoncalves [at]


214 David Kinley Hall1407 W. Gregory DriveUrbana, IL 61801

I am a Ph.D. Candidate in Economics at the University of Illinois.

I will join the University of Florida's Warrington College of Business as an Assistant Professor of Finance next Fall.


Credit Shock Propagation in Firm Networks: Evidence from Government Bank Credit Expansions

(with T. Silva and B. Van Doornik)Presentations: Amsterdam Business School | Central Bank of Brazil | EIEF | Federal Reserve Board | George Mason University (School of Business) | Indiana University (Kelley) | University of Florida (Warrington) | University of Illinois | University of Kentucky (Gatton) | University of Maryland (Robert H. Smith) | University of New South Wales | University of Pittsburgh (Katz) | University of Toronto[ Working Paper under approval by the Central Bank of Brazil for public disclosure. Email me for the updated draft ]

Exporting Uncertainty: The Impact of the Brexit Vote on US Corporations

Under Review (with M. Campello, F. d'Almeida, and G. Kankanhalli)Presentations: Bank of Portugal* | Cambridge University (Judge)* | Drexel University (LeBow)* | George Washington University* | KU Louvain* | Manchester Business School* | National Bank of Belgium* | Penn State (Smeal)* | Syracuse University (Whitman)* | University of Connecticut* | University of Illinois | University of Kentucky (Gatton)* | University of Georgia (Terry)* | LUBRAFIN 2018* | Warwick Business School* | Washington University, St. Louis (Olin)*[ Working Paper (pdf) | Press Coverage (Cambridge Judge Business School) ]

Bank Stocks and the Great Depression

(with B. Taylor and M. Weidenmier)Presentations: Rutgers University* | Utah State University (Huntsman)* | Midwest Macroeconomics Meeting*[ Working Paper (pdf: soon) ]

The Monetary Policies of the Great Depression

(with P. Amir-Ahmadi and M. Weidenmier)Presentations: Midwest Macroeconomics Meeting*[ Working Paper (pdf: soon) ]


Stock Volatility and the Great Depression

Review of Financial Studies, Forthcoming (with M. Weidenmier)[ DOI Link | Working Paper (pdf) | Press Coverage (Bloomberg) ]

Deconstructing Credibility: The Breaking of Monetary Policy Rules in Brazil

Journal of International Money and Finance, 2017, 74(6), 31-52 (with C. Paiva)[ DOI Link | Published Version (pdf) | Working Paper (pdf) | Online Appendix (pdf) ]

Mortgages for Machinery: Credit and Industrial Investment in Pre-World War I Brazil

Financial History Review, 2014, 21(2), 191-212 (with R. Marcondes and M.D. Diaz)[ DOI Link | Published Version (pdf) | Working Paper (pdf) ]


The Evolution of Brazil's Banking System

The Oxford Handbook of the Brazilian Economy, 2018, 198-220 (with R. Marcondes)[ DOI Link | Working Paper (pdf) ]

On the Irrelevance of Mercosur: Evidence from Foreign Direct Investment

Latin American Business Review, 2014, 15(3-4), 291-314 (with C. Paiva)[ DOI Link | Published Version (pdf) | Working Paper (pdf) ]


Forecasting the Great Depression

(with M. Shin and M. Weidenmier)

Commodity Price Cycles Spillovers

(with M. Campello)


University of Florida

FIN 4504: Equity and Capital Markets (SP 2020)

University of Illinois

ECON 303: Intermediate Macroeconomics (SP 2015-2016; FA 2015)ECON 103: Principles of Macroeconomics (FA 2017; SP 2018)ECON 102: Principles of Microeconomics (FA 2014)


University of Illinois

The Robert E. Demarest Memorial Teaching Award (2016)This award is made to Economics Teaching Assistants "in recognition of outstanding performance in the classroom."