Sebastian Gomez-Cardona

Sebastian Gomez-Cardona

Director of Research

Morningstar

I am Director of Research in Investment Advice and Planning at Morningstar Retirement.

Interests

  • Household Finance
  • Retirement

Education

  • PhD in Economics, 2024

    University of British Columbia

  • MSc in Economics, 2011

    The London School of Economics and Political Science

  • MSc in Economics, 2010

    Universidad EAFIT

  • BSc in Mathematical Engineering, 2009

    Universidad EAFIT

Working Papers

May 2026

Estimates of Minimum Required Expenses Throughout the Lifecycle

PDF
Thomas Idzorek, Sebastian Gomez-Cardona, Spencer Look, Paul Kaplan
October 2025

The Distribution of Implied Risk Tolerance Across the Lifecycle

PDF
Thomas Idzorek, Sebastian Gomez-Cardona
August 2025

Decomposing Utility Differences Between Net Worth Optimization and Goals-Based Investing

PDF
Mahdi Ebrahimi Kahou, Jesus Fernandez-Villaverde, Sebastian Gomez-Cardona, Jesse Perla, Jan Rosa
August 2024 R&R Journal of Monetary Economics

Spooky Boundaries at a Distance: Inductive Bias, Dynamic Models, and Behavioral Macro

PDF
Giovanni Gallipoli, Sebastian Gomez-Cardona
February 2023

The Production of Financial Literacy

PDF

Short articles

April 2026 morningstar.com

Liquidity vs. Home Equity: How Families Rebalance Finances Around Planned and Unplanned Births

Financial literacy can play a role in cushioning the economic impact of a baby.

Source Document
July 2025 morningstar.com

The Importance of Incorporating Income Risk Into Financial Planning

Including income risk in financial plans often results in lower equity allocation and higher saving rates.

Source Document
February 2025 Morningstar Insights

Why Does Financial Knowledge Matter in Retirement Planning?

Financial literacy helps investors recognize when to seek advice—and plan sponsors are well-positioned to provide support in the process.

Source Document

Publications

June 2026 Financial Planning Review

Shocks to Income in a Lifecycle Model: An Undervalued Risk

PDF
March 2026 Review of Economics of the Household

Financial Literacy, Shocks, and Portfolio Adjustments

PDF
Francesco Bogliacino, Sebastian Gomez-Cardona
December 2014 Structural Change and Economic Dynamics

Capabilities and investment in R&D: An analysis on European data

PDF
Francesco Bogliacino, Sebastian Gomez-Cardona
July 2014 The Empirical Economics Letters

The R&D Intensity of Companies Lagging Behind the Technological Frontier

PDF
June 2014 Revista Desarrollo y Sociedad

Monetary Policy and Exchange Rate in a Structural VAR for a Small Open Economy

PDF

Teaching

TA - University of British Columbia

ECON 603: Macroeconomics II (PhD)

In-person: Spring 2020, Spring 2022, Spring 2023. Online: Spring 2021

ECON 602: Macroeconomics I (PhD)

Online: Fall 2020

ECON 502: Macroeconomics (Masters)

In-person: Fall 2021, Fall 2022

ECON 500: Microeconomics (Masters)

In-person: Fall 2019

ECON 345: Money and Banking (Undergrad)

Online: Summer 2021

Lecturer (Part-Time) - Universidad EAFIT

Econometrics II (Masters)

In-person: 2013 - 2017

Mathematical Economics (Undergrad)

In-person: 2012 - 2016

Multivariate Calculus (Undergrad)

In-person: 2009 - 2010

Contact