Can Gao

Can Gao is an Assistant Professor of Asset Pricing at the School of Finance (SoF-HSG), University of St. Gallen, where he has been on the tenure track since 2023. He is also affiliated with the Swiss Institute of Banking and Finance, the Swiss Finance Institute, and the Leibniz Institute for Financial Research SAFE in Frankfurt. Prior to his current position, he held a Visiting Fellowship at the London School of Economics and worked in the financial industry in London. He currently holds visiting fellowships at Collegio Carlo Alberto, CEMFI (Madrid), and the Bank for International Settlements (BIS).

His research focuses on asset pricing, international finance, and macro-finance. Key topics include fiscal policy analysis via cointegration models, risk preferences in FX markets, and market sentiment dynamics. Recent work explores stationary fiscal ratios to assess government fiscal health and employs option prices/consensus forecasts to estimate risk aversion in currency markets. He also examines long-term bond risks and systemic FX risk through portfolio-based frameworks.

His academic contributions span over 10 years, with early work in mathematical physics (wave equations) transitioning to financial economics. Notable collaborations include projects with John Campbell, Ian Martin, and Pasquale Della Corte. His research has been presented at leading institutions such as the NBER Summer Institute, European Finance Association conferences, and central banks including the ECB, BoE, and Bank of Canada.

Gao co-organizes the St. Gallen Financial Economics Workshop, fostering collaboration among junior European researchers. Supported by organizations like the Swiss National Science Foundation (SNSF) and the Canadian Derivatives Institute, his work bridges theoretical models with empirical analysis of financial markets, central bank policies, and macroeconomic factors.