Santiago Truffa

Ph.D Business Economics

Biography

I am an assistant professor of finance at Universidad Adolfo Ibáñez (UAI). I earned my Ph.D. in Business Administration from the Haas Business School, UC Berkeley. Prior to joining UAI, I was at  the Finance Department at Tulane University and later at Universidad de los Andes.

Markets have an address. My research asks how the places people and firms occupy, in physical space and in social networks, shape what they know, whom they meet, and how they invest, borrow, and behave. Across urban economics, household finance, and corporate finance, I combine structural models, RCTs, quasi-experiments, and administrative data to show that geography and information frictions are first-order forces in outcomes economists usually treat as placeless: inequality, corporate investment, credit access, and misconduct.

Publications

1.“Labor Market Effects of Deleting Delinquencies” with J Nickerson  and G Maturana Economic Letters 2026

2.“Removing the Fine Print: Standardized Products, Disclosure, and Consumer Outcomes” with S Kulkarni and G Iberti,  Journal of Financial Economics 2026

3.“Director Networks and Misconduct” with M Braun and E Valdivieso,  Global Finance Journal 2025

4.“Do political Parties Matter for Municipal Finances? Evidence from Property Reassessments and Estate Taxes” with F Aldunate  and C Diaz, PLOS ONE 2025

5.“On the Geography of Inequality: Labor Sorting and Place-Based Policies in General Equilibrium” with A Montecinos Spatial Economic Analysis 2023

6.“Agglomeration, knowledge spillovers, and corporate investment ” with W Grieser, I Spyridopoulos and G Maturana, Journal of Corporate Finance 2022

7. “The importance of Large Shocks to Return Predictability” with J Diaz, H Galindo, A Montecinos and D Duarte, Pacific-Basin Finance Journal 2021

Working Papers

1. “The Ripple Effect: ESG Decisions in Director Networks”(link) with M Braun, V Corral and C Raddatz

2. “Shocked into Action: ESG Diffusion Through Director Networks” with M Braun, V Corral and C Raddatz

3.“Estimating the Information Component in Switching Costs: A Structural Approach” with S Kulkarni  and G Iberti

4.“Spillovers and Fairness: The Owens Valley Controversy as a Game of Spatial Externalities(link) with J Espin-Sanchez and N Ryan

5.“Search and Negotiation with Biased Beliefs in Consumer Credit Markets”. (link) with S Higgins, S Kulkarni and E Berwart

6. “Scalable Property Valuation Models via Graph-based Deep Learning”(link) with E Riveros, C Vairetti, S Maldonado and C Wegmann (R&R Engineering Applications of Artificial Intelligence)

7. “Immigration and Housing Markets: Exogenous Shocks and Regional Resilience in Emerging Economies” with F Aldunate, S Garate and  B Quiroga

8. “Dynamic Screening and Information Acquisition: Labor Market Effects of Deleting Financial Delinquencies” with Bernardo Quiroga

9. “Cities as Opportunity Sets”

10. “Skill–Task Mismatch and the Allocation of Talent” with Yoonha Kim

11.“Identifying Screening Standards from Regulated Thresholds: Theory and Evidence from Consumer Credit” with F Aldunate and  G Iberti

12. “Search as Self-Discovery: Sequential Search over Screened Contracts.

13. “Spatial Sorting and the Geography of Innovation” (link)

 

Selected Work in Progress

1.“Public Bank Lending During a Financial Crisis” with F Aldunate and  G Iberti

2. “The Economic Consequences of Social Unrest” with G Maturana, R Ganduri and C Wegmann

3. “The effect of property taxes on house prices: Evidence from border discontinuities in Chile” with P Gutierrez, J Cortes, C Vairetti, S Maldonado and C Wegmann

4. “Hierarchies: New Facts from Administrative HR Data” with F Aldunate, A Enrione and M Torres