Assistant Professor of FinanceWarrington College of BusinessUniversity of Florida

CV | [ PDF ]


2013-2019: Ph.D. in EconomicsUniversity of Illinois at Urbana-Champaign
2008-2012: B.Sc. in EconomicsUniversidade de São Paulo


Financial IntermediationCorporate FinanceInternational Finance


gustavo.cortes [at] warrington.ufl.edugustavocortesgoncalves [at] gmail.com306 Stuzin HallPO Box 117168Gainesville, FL 32611-7168


( * : presentation by coauthor )

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 (Rotman/Scarborough)[ Working Paper (pdf) | BCB Working Paper 507/2019 (pdf) ]

Global Effects of the Brexit Referendum: Evidence from 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 Bristol Workshop on Banking* | 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) ]

The Monetary Policies of the Great Depression

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


( print for personal use only )

Stock Volatility and the Great Depression

Review of Financial Studies, 2019, 32(9), 3544-3570 (with M. Weidenmier)[ DOI Link | Published Version (pdf) | 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) ]


Bank Stocks and the Great Depression

(with B. Taylor and M. Weidenmier)Presentations: Rutgers University* | Utah State University (Huntsman)* | Midwest Macroeconomics Meeting*

The Real Estate Consequences of Immigration Shocks

(with V. Sant'Anna)Presentations: AEA 2020 San Diego Annual Meeting (Poster Session)*

Forecasting the Great Depression

(with M. Shin and M. Weidenmier)


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."