JAKUB KASTL

Curriculum Vitae

(pdf version)

 

Department of Economics
Princeton University
Princeton, NJ 08544-1021

Phone (office): 609-258-4012

E-mail: jkastl@princeton.edu
Web: http://www.princeton.edu/~jkastl

 

PERSONAL INFORMATION
            Age: 42           
            Citizenship: Czech Republic, USA

FIELDS OF SPECIALIZATION
            Primary:            Industrial Organization
            Secondary:        Financial Economics, Auctions

EDUCATION
            Ph.D. in Economics, Northwestern University, 2006
                        Primary Advisor: Prof. Michael Whinston
            M.A. in Economics, Northwestern University, 2003
            B.A. in International Business, University of Economics, Prague, Czech Rep., 2001
            B.A. in Economics, Charles University, Prague, Czech Republic, 2000

EMPLOYMENT
            Professor, Department of Economics, Princeton University, 2016-
            Associate Professor, Department of Economics, Princeton University, 2015-2016
            Assistant Professor, Department of Economics, Stanford University, 2007-2015

AFFILIATION
            Research Associate, NBER, 2009-
            Research Fellow, CEPR, 2015-
            Faculty Fellow, Stanford Institute for Economic Policy Research, 2008-2015

VISITING POSITIONS
            Northwestern University, Department of Economics, May-July 2012
            Becker-Friedman Institute, University of Chicago, May 2012
            Harvard University, Department of Economics, February-April 2012
            EIEF, Rome, Decemeber 2011
            CERGE-EI, June 2011-December 2011
            Cowles Foundation, Yale University, September 2010
            Minneapolis Fed, October 2008, May 2015

FELLOWSHIPS AND AWARDS
            Alfred P. Sloan Foundation Research Fellowship, 2014-2016
            Cowles Foundation Postdoctoral Fellowship, Yale University, 2006-07
            Review of Economic Studies European Tour 2006
            Center for the Study of Industrial Organization Dissertation Fellowship, 2005-06
            Northwestern University Fellowship, 2001-02
 

GRANTS
National Science Foundation CAREER Grant: Empirical Analysis of Financial Markets Using Auction Data, 2014-2019, (Award amount: $450,000)

National Science Foundation Grant: SES-1123314, Empirical Analysis of Auction Markets: Liquidity, Electricity and Information Structure 2011-2014 (Award amount: $218,141)

National Science Foundation Grant: SES-0752860, Divisible Good Auctions with Constrained Bidding: Theory, Empirics and Test for Common Values, 2008-2011 (Award amount: $217,199)

PUBLICATIONS
1. “Discrete Bids and Empirical Inference in Divisible Good Auctions,” Review of Economic Studies , 78 (3), pp. 974-1014, 2011

2. “Wily Welfare Capitalists: Werner von Siemens and the Pension Fund,” (with Lyndon Moore), Cliometrica, 4(3), pp. 321-348, 2010

3. “When Should Manufacturers Want Fair Trade?: New Insights from Asymmetric Information,” (with David Martimort and Salvatore Piccolo),” Journal of Economics and Management Strategy, 20(3), 2011   

4. “Valuing Dealers' Informational Advantage: A Study of Canadian Treasury Auctions,” (with Ali Hortacsu), Econometrica , 80(6), pp.2511-2542, 2012

5. “On the Properties of Equilibria in Private Value Divisible Good Auctions with Constrained Bidding,”  Journal of Mathematical Economics, 48(6), pp.339-352, 2012

6. “Delegation, Ownership Concentration and R&D Spending: Evidence from Italy,” (with David Martimort and Salvatore Piccolo), Journal of Industrial Economics, 61(1), pp. 84-107, 2013

7. “The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short-Term Funds," with Nuno Cassola and Ali Hortacsu, Econometrica, 81(4), pp. 1309-1345, 2013

8. “Recent Advances in Empirical Analysis of Financial Markets: Industrial Organization Meets Finance,” In B. Honoré, A. Pakes, M. Piazzesi, & L. Samuelson (Eds.), Advances in Economics and Econometrics: Eleventh World Congress (Econometric Society Monographs, pp. 231-270). Cambridge: Cambridge University Press, 2017.

9. “Bid Shading and Bidder Surplus in U.S. Treasury Auction System," with Ali Hortacsu and Allen Zhang, American Economic Review, 108(1), pp. 1-24, 2018

10. “Selling Information to Competitive Firms,” with Marco Pagnozzi and  Salvatore Piccolo, Rand Journal of Economics , 49(1), pp. 254-282, 2018

11. “Auctions in Financial Markets," International Journal of Industrial Organization, forthcoming

12. “Crisis Management: Analyzing Default Risk and Liquidity Demand during Financial Stress," with Jason Allen and Ali Hortacsu, AEJ: Microeconomics, forthcoming

WORKING PAPERS

“Liquidity Auctions, Fixed Rate Tenders and Bailouts in the EURO Zone,” with Nuno Cassola and Ali Hortacsu

“An Empirical Analysis of Funding cost Spillovers in the EURO-Zone with Application to Systemic Risk,” with Pietro Bonaldi and Ali Hortacsu

“Quantifying Delay Externalities in Airline Networks”, with Liyu Dou and John Lazarev

“QE Reverse Auctions in the UK and the US,” with Lena Boneva nad Filip Zikes (R&R at the JFE)

“Primary Dealers and the Demand for Government Debt,” with Jason Allen and Milena Wittwer

“Value of Time: Evidence from Auctioned Cab Rides,” with N. Buchholz, L. Doval, F. Matejka and T. Salz (R&R at Econometrica )

“Revisiting Cap-and-Trade in Presence of Publicly Owned Polluters: The Case of Italy 2006-2018," with Bruno Baranek and Federico Boffa

WORK IN PROGRESS 

“Estimating Demand for U.S. Treasuries,” with Ali Hortacsu

“Platform Design in Ride Hail: An Empirical Investigation," with N. Buchholz, L. Doval and T. Salz

 

PROFESSIONAL MEMBERSHIPS
Econometric Society, American Economic Association  

PROFESSIONAL SERVICES
Member of the Editorial Board, AEJ: Micro
Associate Editor, Econometrica, Journal of Political Economy, International Journal of Industrial Organization

Referee for American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, Econometrica, Journal of Political Economy, Economic Journal, RAND Journal of Economics, Journal of Industrial Economics, International Journal of Industrial Organization, Journal of Business & Economic Statistics, Review of Finance, NSF, Decision Analysis, Review of Economics and Statistics, AEJ: Microeconomics, Journal of Econometrics, AEJ: Applied, Journal of Economic Theory, Economic Theory, Review of Financial Studies, International Economic Review, Journal of Law, Economics and Organization, Journal of Economic Dynamics and Control, Scandinavian Journal of Economics, SSH Research Council of Canada

Program committee member for the Society of Economic Dynamics meetings in Montreal, Canada, 2010.
Program committee member for the World Congress of the Econometric Society in Montreal, Canada, 2015.
Scientific Committee, 3rd IAAE Conference, Milan 2016, Sapporro 2017, Montreal 2018
Senior Program Committee, ACM Conference on Economics and Computation, Maastricht, 2016
Program committee member for The Wharton Conference on Liquidity and Financial Crises, 2016, 2017, 2018, 2019

PRESENTATIONS
Seminars:
2005/06: Arizona State University, Columbia University (Econ and GSB), Northwestern University, Princeton University, Stanford University, Tel Aviv University, University College London, University of California - Berkeley (Econ and Haas), University of California - San Diego, University of Essex, University of Oslo, University of Pennsylvania (Econ), Yale University (SOM)

2006/07: MIT, University of Maryland, University of Minnesota, University of Pennsylvania (Wharton), University of Wisconsin at Madison, Yale University (Econ)

2007/08: Harvard University, Minneapolis Fed, CERGE, UC Davis

2008/09: Bank of Canada, NYU Stern, UCLA, University of Chicago, University of Montreal, UC Santa Cruz

2009/10: European Central Bank, Carnegie Mellon, ITAM

2010/11: Duke, Yale, Czech Central Bank, University of Chicago-Booth (Finance), Columbia, UC Irvine

2011/12: Mannheim, CERGE-EI, New York Fed, Paris School of Economics, EIEF, Collegio Carlo Alberto, Naples, Yale, Harvard, Northwestern, University of Chicago

2012/13: Maryland, Stanford, LSE, UCL, Princeton

2013/14: Ohio State, UCLA, EUI (Florence), UC Berkeley, UC Berkeley - Haas (Marketing), NYU

2014/15: Wisconsin-Madison, Minneapolis Fed, Universita Cattolica del Sacro Cuore (Milan)

2015/16: Wharton, Drexel, Dartmouth, Johns Hopkins, Penn, Columbia, University of Vienna, Board of Governors

2016/17: Toronto, Rice, Harvard, Carnegie Mellon

2017/18: Yale, Bank of Canada, UT Austin, Penn State

2018/19: Rochester, MIT, Stanford, UCL, Toulouse, European Commission

2019/20: Boston University, Amazon

2020/21: NYU

2021/22: Columbia, Booth (Finance)

2022/23: WashU, Kellogg (Finance), IFN Stockholm, Stanford

CONFERENCE PRESENTATIONS and DISCUSSIONS
ES Summer Meetings, Evanston, 2003
International Industrial Organization Conference, Chicago, 2004
EEA-ESEM Summer Meetings, Madrid, 2004
Summer School on Game Theory, Bolzano, 2005
Econometrics of Auctions, Toulouse, 2006
MTS Conference on Financial Markets, Istanbul, 2006
SED, Prague, 2007
UMinn Applied Micro, Minneapolis, 2007
AEA, New Orleans, 2008
Penn State Conference on Auctions, State College, 2008
SED, Boston, 2008
Utah WBEC, Salt Lake City, 2009
Cowles Conference, Yale University, 2009
MTS Conference on Financial Markets, London, 2009
SED, Montreal, 2010
MTS Conference on Financial Markets, London, 2010
Utah WBEC, Salt Lake City, 2012
Security Market Auctions and IPOs, Kellogg, Evanston, 2012
Cowles Conference, Yale, 2013
Barcelona GSE Summer Forum, 2013
Wharton Conference on Liquidity and Financial Crises, 2013 Winter Marketing-Economics Summit, Wengen, 2014
EEA-ESEM (Invited Session in Honor of JJ Laffont), Toulouse, 2014
CEPR IO Meeting, Zurich, May 2015
3rd European Meeting on Networks, Cambridge, June 2015
NBER IO Summer Meeting, 2015
11th World Congress of the Econometric Society (invited talk), Montreal, August 2015
NBER Market Design, October 2015
Market Design Conference, Florence, April 2016
Conference in Honor of Rob Porter, Vanderbilt, April 2016
SED, Toulouse, July 2016
NBER IO Summer Meeting, 2016 EARIE, Lisbon, 2016 AEA, Chicago, 2017 Wharton Conference on Liquidity and Financial Crises, 2017
Atlanta Federal Reserve Board - Emory International Workshop, 2017
Winter Marketing-Economics Summit, Jackson Hole, 2018
EARIE (keynote), Athens, 2018 NBER IO Summer Meeting, 2019 NBER and Department of Transportation Meeting, 2020 NBER IO Summer Meeting, 2022