Assistant Professor of Finance
IE Business School

Maria de Molina 12, 4º Izda
28006 Madrid

mail icon dario.cestau@ie.edu

icon phone +34 91 568 98 65

Useful Links: vita

Education

Carnegie Mellon University – Ph.D. – 2014.

Carnegie Mellon University – M.S. – 2010.

Universidad de Montevideo – M.S. – 2010.

Universidad de Montevideo – B.A. – 2006.

Research Interests:

Public Economics – Public Finance – Municipal Bonds – Political Economy

Published Papers:

“Municipal Bond Markets”,  with Dan Li,  Hollified, B., and Norman Schürhoff, Annual Review of Financial Economics (2019).

“The Political Affiliation Effect on State Credit Risk”,  Public Choice (2018).

“Admitting Students to Selective Education Programs: Merit, Profiling, and Affirmative Action” with Dennis Epple, and Holger Sieg, Journal of Political Economy (2017).

“Tax-Subsidized Underpricing: The Market for Build America Bonds” with Richard C. Green and Norman Schürhoff, Journal of Monetary Economics (2013).

“Why Governments Choose Different Debt Maturity Structures?”, Journal FCEE (2011).

Working Papers:

“Should State Governments Prohibit the Negotiated Sales of Municipal Bonds?”,  with Richard C. Green,  Hollified, B., and Norman Schürhoff.

“College Achievement and Attainment Gaps: Evidence from West Point Cadets”, with Dennis Epple, Richard Romano, Holger Sieg, and Carl Wojtaszek.

“Competition and Market Concentration in the Municipal Bond Market“

“Specialization investments and market power in the underwriting market for municipal bonds”.

Teaching:

IE Business School (2014-Present):

  • Master In Management: Financial Markets, and Advanced Corporate Finance

Carnegie Mellon University (2013)

  • Undergraduate program: Intermediate Microeconomics (73150)

Honors and Awards:

Doctoral Studies Scholarship, Carnegie Mellon University, Tepper School of Business, 2008-2011.

Excellence Fellowship – Universidad de Montevideo, 2002-2005.