CURRICULUM VITAE FAUSTO HERNANDEZ TRILLO Address: Phone Numbers Jesús Romero Flores 32-13 (52-55) 57 27 98 00 Ext. 2720 Col. El Molino Home: (52-55) 58 12 97 69 05240 México D.F Fax: (52-55) 57 27 98 78 MEXICO Email: fausto.hernandez@cide.edu Nationality: Mexican; Married, 2 children; DOB: July 13, 1960 ACADEMIC DEGREES Ph.D in Economics The Ohio State University 1991 M.A. in Economics The Ohio State University 1987 B.A. In Economics Universidad Autónoma de México 1985 B.A. in Business Univ. Autónoma Metropolitana 1983 EXPERIENCE Academics Tinker Visiting Professor, Harris Public Policy School, The University of Chicago, Fall, 2008. Visiting Professor, Krannert School of Management, Finance Department, Purdue University, 2007-2008. Professor, Department of Economics, CIDE (Centro de Investigación y Docencia Económicas), 1996-present. Visiting Chair. Center for the Study of Western Hemisphere Trade & Visiting Professor of Economics. University of Texas at Austin. 2001. Professor & Chair, Department of Economics, CIDE (Centro de Investigación y Docencia Económicas), 1997-2000 and 2009-2013. Assistant Professor, Universidad de las Américas-Puebla, 1991-1994. Instructor of Economics, The Ohio State University, 1986-1991. Professional General Director of Regional Budget, Treasury Department, Mexico City, 1995-1996 Junior Economist, Research Department, Mexican Stock Exchange, 1994-1995 External adviser, President of the Mexican Internal Revenue Service, 1998-2000 External Adviser for the Undersecretary of Expenditure, Ministry of Treasury (Sría de Hacienda y Crédito Público), 1996-98. Member of the Committee of Advisers for the Commerce Secretary, 1992-1994 PROJECTS More than 30 projects (academic and semi-academic) with external funding.
PUBLICATIONS A. Referred Journals 1. Optimal Gasoline Tax in Developing, Oil-Producing Countries: The Case of Mexico. Con Arturo Antón. [Revised and Resubmitt]. Energy Policy 2. Eficiencia en el mercado cambiario: Nueva evidencia para el caso mexicano (with R Cabrero y R. Cermeño), in Revista Mexicana de Economía y Finanzas, IMEF, México DF. 2013 3. Un modelo para determinación el riesgo crediticio municipal en México (with Bruno Vargas). Investigación Económica, UNAM. Abril-junio, 2012. 4. Credit Rating in the Presence of Bailout: The case of Mexican SNGs. In Economía-Lacea Journal of Economics.(with Ricardo Smith-Ramírez). 2009 5. Is Local Beautiful? Fiscal Decentralization in Mexico In World Development, September, 2008 (Vol. 36, No. 9). 6. Transferencias condicionadas en paises en desarrollo: el caso del FISM en Mexico. En Estudios Economicos, El Colegio de Mexico. 2007. 7. Competencia Bancaria en México [Banking Competition in Mexico] (Con Marcos Avalos). CEPAL. LC/MEX/L.722. 2006 8. Definición de responsabilidades, rendición de cuentas y eficiencia presupuestaria en una federación: el caso Mexicano [Political Accountability, Responsibilities Definition and Budget Eficiency in a Federation: the Case of Mexico] (with J.M. Torres). In Revista Mexicana de Sociología. 68, #1. January, 2006. 9. Start Up Capital, Technical Efficiency and Microenterprises in Mexico (with J. Pagan, & Julia Paxton) Review of Development Economics, August 2005. 10. The Real Exchange Process: The cases of México and USA. (with Kevin Grier), Journal of Applied Economics, Vol VII No. 1 May, 2004. 11. Determinants and Consequences of Bailing Out States in México. (with A. Díaz Cayeros & Rafael Gamboa). Eastern Economic Journal Summer, 2002. 12. Manejo del Riesgo en Entidades Federativas en México: Fondo de Contingencia para enfrentar Riesgos Macroeconómicos [Managing Financial Risk in Mexican States: A Stabilization Fund]. Gestión y Políticas Públicas. January 2002. 13. The Structure of Public Debt in México (with A. Villagómez). Revista de Análisis Económico, ILADES/Gergetown University. Chile, 2001. Also Published as Research Document R-123, IADB. 14. La crisis bancaria en México: Un análisis de Duración y Riesgo Proporcional [The Mexican Banking Crisis: a Duration approach] (with Omar López) in Trimestre Económico. September, 2001. 15. La Banca en México 1994-2000 [Mexican Bank System: 1994-2000]. Economía Mexicana. Nueva Epoca. July, 2001. 16. Fragilidad Bancaria, Estructura de Deuda y Regímenes Cambiantes en México [Banking Fragility, Regime Swithching and Debt Structure]. In Estudios Económicos. El Colegio de México. January 2001. 17. Financial Derivatives Introduction and Stock Return Volatility in an Emerging Market without a Clearinghouse: The Mexican Experience Journal of Empirical Finance. North Holland. April, 1999 (vol 6: #2). 18. "La Disputabilidad de los Regímenes Políticos: Un Enfoque de Mercados Impugnables [Political Regime Switching: A Contestable Market Approach of the Mexican Porfiriato]", Investigación Económica, April, 1999.
19. El Federalismo Fiscal en México: Cómo Vamos?[Fiscal Federalism in Mexico: How are we doing?] Revista Internacional. de Finanzas Públicas, 1998. 20. Es disciplinado el mercado Crediticio estatal mexicano?: Una arista para el nuevo federalismo [Is Mexican SNG Debt Market Disciplined?]. El Trimestre Económico. 1997. 21. Hacia el Nuevo Federalismo en México [Towards the New Fiscal Federalism in Mexico]. (with Jorge Chávez Presa.) Gestión y Política Públicas. 1996 22. "Gains from Trade and Cost of Default in International Credit Markets " The International Trade Journal, 1996. 23. "A Model-Based Estimation of the Probability of Default in Sovereign Loan Markets" Journal of Development Economics, Febrruary, 1995. (vol. 46, No.1) North Holland. 24. "Comportamiento del tipo de cambio real y desempeño económico en México (Exchange rate behaviour and Economic Growth]", (with Antonio Avalos Huerta) Economía Mexicana, July, 1995. 25. "Estimación Endógena del Repudio en Mercados Soberanos de Crédito" El Trimestre Económico, March, 1994. 26. Volatility and Financial Diversification. Inversión y Finanzas, Mexican Stock Exchange. Julio- Diciembre 1994. 27. "Crecimiento y Liberización Económica: Un Análisis de Series de Tiempo para México" Estudios Económicos, El Colegio de México, January, 1993. 28. "La eficiencia del Mercado Accionario Mexicano y sus Implicaciones sobre la Cuenta Corriente" (with R. Arellano y G. Castañeda), Economía Mexicana, July, 1993. B. Books 1. (In Spanish) El Enigmático Sistema Bancario Mexicano Contemporáneo. with Alejandro Villagómez. CEEY. 2013. ISBN 978-607-8036-29-5 2. The end of Informality: Fiscal Reform for universal social insurance (with Arturo Antón y Santiago Levy). IADB, Washington, DC. (Investigación) 2012 3. (In Spanish)Seguridad Social Universal: retos para su introducción. Editor. Editorial CIDE, 2012 4. (In Spanish) Reformas a la Hacienda Pública y al Sistema de Protección Social. 2012. (with Jorge Chávez y Luis Felipe López Calva). Centro de Estudios Espinosa Yglesias. México (Divulgación) ISBN 978-607-8036-15-8 5. (In Spanish) El Cemento en México. Editorial CIDE, México 2010. (with V. Carreón, Kurt Unger y Juan Manuel Torres) (Investigación) ISBN: 978-607-7843-06-1. 6. (in Spanish) Los Impuestos en México. Nostra Editores. Para Entender colection. (This is a general audience short book). In press. 7. (In Spanish) Budgeting Public Infrastructure in Mexico [El Presupuesto Público en Infraestructura y su regulación] CIDAC. México DF 2006. 8. (In Spanish) Decentralization, Federalism and Regional Planning in Mexico [Descentralización, Federalismo y Planeación Regional en México]. Fausto Hernández-Trillo and Rafael Tamayo (Editors). Publisher: Miguel Angel Porrúa-Woodrow Wilson Foundation. 2004. 9. (In Spanish) The Economics of Debt: Lessons from Mexico [La Economia de la Deuda]. Fondo de Cultura Económica, México, 2003. 10. (In Spanish) Risk Management: Exchange Rate Options [El manejo del riesgo cambiario: las opciones sobre divisas] (with Marc Chesney, Bernard Marois) Limusa Publishers. 2001 (Also in French).
11. (In Spanish) Futuros y Opciones Financieras en México: Una Introducción (with Jaime Díaz Tinoco). Limusa Mexican Stock Exchange Publishers, 1996. 2 nd Edition: 1998; 3 rd edition 2000. (4 th edition in Press). C. Book Chapters 1. Financing Social Security in Mexico (con Arturo Antón) En Social Security and Labor Mrkets around the World (Carmen Pages editora) Oxford University Press, En prensa. 2. Fausto Hernández. La banca revisitada. En: Enrique Cardenas y Amparo Espinosa, editores. Privatización, crisis y rescate del sistema financiero. Centro de Estudios Espinosa Yglesias. 2011 3. Fausto Hernández. México y las políticas anticíclicas. En Reflexiones sobre la Crisis Financiera. Compilado por Alfonso Mendoza, Fco López Herrera y Karen Watkins. Edit. UNAM-UPAEP. 2011 4. Fausto Hernández. Competencia en la Banca Mexicana. En "La Información Financiera en la Banca del S. XXI" Compilado por Salvador Marín y Marcos Renan. Ediciones de la Universidad de Cantabria. 2011 5. Fausto Hernández. Historia Mexicana de las Finanzas Públicas en el S. XX. En Historia Económica General de México, Editado por Sandra Kunz. El Colegio de México. 2010 6. Economía Mexicana: Perspectivas (con Gerardo Esquivel). En Hipotecando el Futuro editado por Erika Ruiz. Fundación Carolina-Taurus. 2010 7. El CIDE, Un Experimento de Programas Cuantitativos, con Alejandro Villagómez, Cap. 2 en La Flecha al Aire, C. Heredia, E. Perez Mota y C. Sales, Coordinadores, ITAM, CIDE, Porrúa 2010 8. How can reforms Help Deliver Growth in Mexico? (con Gerardo Esquivel). En Growing Pains in Latin America. Coordinado por Liliana Rojas-Suarez. Center for Global Development, Washington DC (2009). Versión en español: Los Desafíos del Crecimiento en América Latina: Un nuevo Enfoque. Fondo de Cultura Económica, 2009 9. Banking Competition in Mexico (With Marcos Avalos). In Competition Policies in Emerging Economies: Lessons and Challenges from Central America and Mexico. C. Schattan and E. Rivera (Eds). Springer. 2008. 10. Challenges of Mexican Fiscal Policy. In Fiscal Policy in Latin America. Edited by Luiz de Mello. OECD Press, Paris, France, 2006. 11. Primero lo Primero: Cómo Financiar el desarrollo económico mexicano? In José Antonio Aguilar (ed). Crónicas de un País Posible. Conculta-FCE. 2005. 12. Una Evaluación Preliminar del Sector Financiero (with A. Villagómez) in Para Evaluar al TLC edited by Arturo Borja and Judith Mariscal. Porrúa ITESM Publishing Co.. 2001. 13. Subnational Debt in México (with Joao Oliveira) in Achievements and Challenges of Fiscal Decentralization: Lessons from México. Steve Webb (editor) World Bank, 2000. 14. El sistema financiero mexicano después del TLC. (with Alejandro Villagómez), In Socios Naturales?: Cinco años del Tratado de Libre Comercio de América del Norte. Edited by Rafael Fernández de Castro and Beatriz Leycegui, M.A. Porrúa-ITAM Publishing Co.. 2000 15. Reexploring Financial Diversification: The Mexican Experience. In The Global Structure of Financial Markets, Dilip Ghosh and E. Ortiz (eds.) Routledge Press, England. 1997. PARTICIPATION IN CONFERENCES & SEMINARS Numerous papers presented in many seminars and Economic Societies Meetings (Latin American Econometric Society Meetings, International Finance Association, Western Economic Association,
European Public Choice Society, Eastern Economic Association, Latin American and Caribean Association, weekly seminars at SMU, OSU, UT, University of Chicago, Purdue University and many Mexican and LA universities) (Titles and dates upon Request). EDITORIAL PARTICIPATION: Editor, El Trimestre Económico, Fondo de Cultura Económica, 2003- Member of Editorial Committee: Estudios Económicos, Economía Mexicana, Economía UNAM. Investigación Económica. Referee Reports for: Journal of Political Economy, Journal of Money, Credit and Banking, Journal of Development Economics, Multinational Finance Journal, Journal of Applied Economics, Public Budgeting & Finance, El Trimestre Económico, Inversión y Finanzas, Economía Mexicana, Iberoamérica Press, Limusa Publishers, Estudios Económicos, Investigación Económica. MAIN COURSES TAUGHT International Economics, Development Economics, Macroeconomics, International Finance, Financial Markets, Econometrics (all of them at a graduate and undergraduate levels and in English and Spanish), Introduction to Economics, Principles of Microeconomics. Executive courses (Derivatives and Financial Markets) in different Latin American Central Banks: Perú, Venezuela, Cuba, Guatemala, Honduras, Costa Rica and Mexico. THESIS ADVISED 28 BA theses and 13 MA theses and 2 PhD Dissertations. (Names and titles upon request). MEDIA PARTICIPATION Newspapers: Reforma, Wall Street Journal, Expansión, Business Week, 5días (España), El País (Spain), La Jornada, Excelsior, Heraldo de México, Crónica, El Universal, El Financiero, El Economista, Novedades, Reuters, Notimex, Bloomberg, The Economist, New York Times. Globe and Mail (Canada) Electronic Media: Radio Netherlands, CNBC News, CNN, Televisa, TV Azteca, Canal 11, Canal 40, Radio Imagen, Radio Fórmula, Radio Red, Opus 94. Essays in Newspapers and Weekly Magazines: Nexos, Este País, Revista Macro, Revista IMEFF, La Jornada Newspaper, Democracia y Desarrollo, El Economista Mexicano, Enfoque (Reforma Newspaper). LANGUAGES Spanish (native), English, French (reading and writing) and notions of Japanese. Computer Skills: Eviews, Rats, Stata, Shazam, Limdep HONORS Member of [Mexican] National Research System (Sistema Nacional de Investigadores), Level III (out of III, being this the highest). Research Associate, US-Mexico Center, University of California-San Diego. 2011- Banking Studies Award, Centro de Estudios Espinoza Yglesias, 2012, Third place.
Professional Achievement Recognition. ECLAC, 2012. Víctor Urquidi Economics Prize, Third Place. El Colegio de México, 2010. First Place Daniel Cosio Villegas Latin-American Economics Prize. Fondo de Cultura Económica, México, 1997. Outstanding Teaching Award, University of the Americas, Puebla, Mexico, 1994. Outstanding Teaching Award, 1990. The Ohio State University. Student Representative, Search Committee for the Vice-Provost of International Affairs, The Ohio State University, 1991. Listed in Who s Who in Science and Engineering, Marquis, NJ, USA