March
Brian Gendreau, Ph.D.
Clinical Professor of Finance and Richardson Faculty Fellow
University of Florida
For our March 2019 member of the month, the International Atlantic Economic Society welcomes Clinical Professor of Finance and Richardson Faculty Fellow Brian Gendreau. Professor Gendreau teaches Asset Allocation and Investment Strategy and Emerging Markets Finance and has published in both fields. Prior to coming to University of Florida in 2009 he was an Investment Strategist with ING Investment Management and a member of its asset allocation committee, which set the investment policy for over $18 billion in asset allocation, life cycle, and balanced funds. Professor Gendreau has a PhD in Business Economics from the Wharton School and has taught classes in the MBA programs at Wharton and New York University. Before going to Wall Street he served as a staff economist with the Federal Reserve Board and the Federal Reserve Bank of Philadelphia. Later, he worked for JP Morgan, Salomon Smith Barney, and Heckman Global Advisors (now a division of DCM Advisors). Professor Gendreau has consulted on market strategy for Cetera Financial Group, a Los Angeles-based financial advisory firm and has appeared regularly on CNBC, Fox Business, and Bloomberg television. He was named Warrington College of Business International Educator of the Year in 2015.
Why did you become a member of the International Atlantic Economic Society?
The Society’s conferences and its publications provide a nice combination of rigorous yet accessible research on a variety of topics in economics. I especially like the international aspect of the conferences, which are held in wonderful locations and attended by scholars from many countries.
What types of projects/research are you currently working on and what inspired/motivated you to pursue these interests?
My research interests are focused on financial crises, liquidity, and the emerging markets. Currently, I am working on two papers: One is on whether the marked decline in borrowing from the on Federal Reserve’s discount window during the Great Depression can be explained by a decline in demand reflecting a stigma against borrowing, or a reduction in the supply of credit by the Fed. The other paper examines the extent to which cyclical fluctuations in GDP and shifts in trend GDP growth can explain movements in equity returns across countries.
What advice would you give to someone who is considering entering your line of work/field of study?
Master econometrics, but do not expect anyone to be persuaded by econometrics as contained in textbooks and traditionally taught. People are more likely to be persuaded by quasi-natural experiments, anomalies, and compelling charts than estimates from structural models or VARs. Make certain you have dealt credibly with identification and any issue of endogeneity that may arise in your research — the issue comes up in almost every economics and finance seminar, and rightfully so.
Going forward, what other projects/research are you looking to or hoping to pursue?
It is not strictly economics, but I would like to look into how the United States and Mexico managed to maintain trade and commercial relationships despite the Mexican Revolution while such relationships collapsed altogether after the 1953-59 Cuban Revolution.
What’s your favorite hobby?
My hobbies include swimming, bicycling, scuba diving, and reading. These days, however, my main outdoor activity is hiking. Last fall, I walked across England on the Hadrian’s Wall path. The world offers many interesting trails for future hikes, including the Nakasendo and Kumano Kodo trails in Japan, Nepal (trekking), South Africa (bushwalking), and the Santiago de Compostela Camino. Local hikes are fine, too.