Curriculum Vitae

Personal Data Born in Medell´ın, , 1979. Colombian Citizen.

Current Position Assistant Professor School of and Finance EAFIT Medell´ın,Colombia 2007 - Present Email: drestr16@eafit.edu.co

Education

2008-2013: State University of New York at Binghamton (New York, USA):

Master of Arts (2012) in Economics and Doctor of Philosophy (2013) in Economics and Finance. PhD thesis topic: Essays on Profit Efficiency, Scale, and Productivity of U.S. Banks. PhD committee: Subal C. Kumbhakar (main advisor), Barry E. Jones, and Daniel Henderson. 2004 - 2006: Master of Science in Finance (Financial Engineering), EAFIT University, Medell´ın,Colombia.

2003 - 2004: Specialization in Finance, EAFIT University, Medell´ın,Colombia. 1997 - 2003: Bachelor of Arts, Business Administration, , Medell´ın,Colombia.

Teaching Experience

2013 - present: Assistant Professor of Finance, EAFIT University, Medell´ın, Colombia. Undergraduate courses: Firm Valuation. Graduate courses: Financial Theory I, Investments. 2011 - 2013: Graduate Instructor. State University of New York at Binghamton, USA. Department of Eco- nomics. Undergraduate courses: Economic Analysis of Financial Crises, Intermediate Microeconomics.

2007 - 2008: Teaching Assistant. State University of New York at Binghamton, USA. Harpur College. Un- dergraduate Courses: Corporate Reorganization: The Financial Crisis and Its Aftermath; Econometric Forecasting. Graduate courses: Econometric Methods. 2007 - 2008: Assistant Professor. EAFIT University, Medell´ın,Colombia. Department of Finance. Under- graduate courses: Financial Analysis. Graduate courses: Financial Analysis, Derivatives Pricing.

2005 - 2007: Assistant Professor, University of Medell´ın,Colombia. Financial Engineering Department. Undergraduate courses: Introduction to Financial Markets, Capital Markets, Futures and Options Markets, Derivatives Pricing. Graduate courses: Derivatives Markets. 2003 - 2005: Junior Lecturer, University of Antioquia, Medell´ın,Colombia. School of Economic Science. Undergraduate courses: Corporate Finance.

1 Research Interests

Microeconomics and microeconometrics of banking, financial econometrics, economics of financial reg- ulation, measurement of productivity and efficiency, financial development, financial economics, financial markets, corporate finance, financial crises, asset pricing and interest rate models, derivatives pricing, macroe- conomics and finance.

Publications

[1] Enjoying the Quiet Life under Deregulation? Not quite. (2014) Journal of Applied Econometrics 29: 333–343. (With: Subal C. Kumbhakar). DOI: 10.1002/jae.2374 [2] Nonparametric Estimation of Returns to Scale using Input Distance Functions: The Case of U.S. Banks. (2015) Empirical Economics. Volume 48, Issue 1, pp 143-168. Special Issue: Applied Semi and Nonparametric Econometric Methods. With Subal C. Kumbhakar (Binghamton University, USA). DOI: 10.1007/s00181-014-0831-9 [3] Obelix vs. Asterix: Size of US commercial banks and its regulatory challenge, with Subal C. Kumb- hakar (Binghamton University, USA) and Kai Sun (University of Salford, Salford, UK). Forthcoming in Journal of Regulatory Economics. DOI: 10.1007/s11149-015-9275-1 [4] Estimation of Banking under Credit Uncertainty. With Emir Malikov and Subal C. Kumb- hakar (Binghamton University, USA.). Forthcoming in Empirical Economics. DOI: 10.1007/s00181- 014-0849-z [5] Unifactorial Interest Rate Models: An application to the Colombian Market. Cuadernos de Adminis- traci´on, Bogot´a-Colombia. 35(31), Jan-Jun 2008. (With: Botero, Juan Carlos). Available here. [6] Analysis of Asymmetric and Day of the Week Effects of the VIX Volatility Index. Revista Ingenier´ıas, University of Medell´ın, Colombia. 11 (6), Jun-Dec 2007. (With: Alvarez-Franco, Pilar and P´erez, Fredy). Available here.

Under Review

[1] Profit Efficiency of U.S. Commercial Banks: a Decomposition. Under review, with Subal C. Kumbhakar (Binghamton University, USA.). [2] Are all U.S. Credit Unions Alike? A Generalized Model of Heterogeneous with Endogenous Switching and Fixed Effects. Under review, with Emir Malikov and Subal C. Kumbhakar (Binghamton University, USA.). [3] Estimating the User Cost of Risky Monetary Assets using Stochastic Discount Factors. With Barry E. Jones (Binghamton University, USA.).

Work in Progress

[1] Profit Efficiency and U.S. Bank Failures. With Subal C. Kumbhakar (Binghamton University, USA.). [2] Determinants of Inefficiency of U.S. Banks: A Zero Inflated Stochastic Frontier Model. With Christo- pher Parmeter (University of Miami) and Subal C. Kumbhakar (Binghamton University, USA.). [3] Semiparametric Estimation of Bank Specific Measures of Market Power. With Subal C. Kumbhakar (Binghamton University, USA.). [4] Regulating Systematically Important Financial Institutions in Colombia: Lessons from Regulatory Reforms around the World. [5] Informality, Misallocation, and Economic Growth. [6] Book: The Economics of Financial Crises.

2 Work Experience

2002 - 2005 Chief Financial and Administrative Officer, Fundaci´onEE.PP.M, Medell´ın,Colombia 2003 Interim Chief Executive Officer, Fundaci´onEE.PP.M, Medell´ın,Colombia

Referee

Journal of Productivity Analysis. Springer. Empirical Economics. Springer.

Journal of Management and Economics for Iberoamerica (Estudios Gerenciales). Elsevier. Universidad ICESI, Cali, Colombia. Colombian Central Bank.

Conference Presentations

[1] EAFIT University Economics Seminar. Medell´ın,Colombia. March 7, 2014. Nonparametric Estimation of Returns to Scale using Input Distance Functions: An Application to Large U.S. Banks [2] EAFIT University Finance Research Seminar. Medell´ın,Colombia. February 19, 2014. Geography, Bank Business Strategies, and Efficiency

[3] Colombian Central Bank Economics Seminar. Bogot´a,Colombia. December 11, 2013. Nonparametric Estimation of Returns to Scale using Input Distance Functions: An Application to Large U.S. Banks [4] New York Camp Econometrics VIII. Bolton Landing, New York, USA; April 5 - 7, 2013. Nonparametric Estimation of Returns to Scale using Input Distance Functions: An Application to Large U.S. Banks

[5] 82nd Annual Meeting of the Southern Economic Association. New Orleans, Louisiana, USA. November 16 - 18, 2012. Estimating the User Cost of Money using a Habit-Based Asset Pricing Model [6] North American Productivity Workshop VII. Rice University, Houston, Texas, USA. June 6 - 9, 2012. Measuring Profit Efficiency without Estimating a Profit Function: The Case of U.S. Commercial Banks [7] 38th Annual Conference of the Easter Economic Association 2012. Boston, Massachusetts, USA. March 9 11, 2012. Measuring Profit Efficiency without Estimating a Profit Function: The Case of U.S. Commercial Banks [8] Missouri Valley Economic Association’s annual meeting 2012. Kansas City, Missouri, USA. October 20 - 22, 2011. Measuring Profit Efficiency without Estimating a Profit Function: The Case of U.S. Commercial Banks

Conference Participation

[1] Global Systemic Risk Conference. Federal Reserve Bank of New York. November 17, 2011. [2] Third Annual New York Accounting and Finance Forum (NYAFF) Conference. Binghamton University, Binghamton, New York, USA. September 10, 2010.

[3] The Economics of Payments IV. Federal Reserve Bank of New York. April 1 - 2, 2010. [4] Fifth Annual Mid-Atlantic Research Conference in Finance 2010. Villanova University. Villanova, Pennsylvania, USA. March 5, 2010. [5] III Research Symposium for Spanish and Latin-American Academic: Management Research in a Global Environment. David Rockefeller Center for Latin American Studies, Harvard University. Cambridge, Massachusetts. June 15 - 19, 2009.

3 Awards and Honors

2008 - 2011: Fulbright Scholar at SUNY-Binghamton. 2002: University of Antioquia Economics Science Recognition for ranking first in the class of 2002.

Computer Skills

LATEX, MatLab, R, Gauss, Stata, @Risk, Crystal Ball. Languages

English(Fluent), Spanish (Native Speaker), French.

References

Dr. Subal Kumbakhar Dr. Daniel Henderson University Distinguished Professor Associate Professor of Economics Department of Economics J. Weldon and Delores Cole Faculty Fellow Binghamton University Department of Economics, Finance and Legal Vestal, NY 13905 Studies phone: (607) 257-4567 University of Alabama e-mail: [email protected] Tuscaloosa, AL 35487-0224 Phone: 205 348-8991 Dr. Jones Barry e-mail: [email protected] Binghamton University Vestal, NY 13905 Phone: (607) 257-4567 e-mail: [email protected]

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