El Departamento de Economía de la Universidad de Chile tiene el agrado de invitar a usted a un nuevo Seminario Académico.

Título - Negative financial spillovers in local banking markets

Autores - Mark J. Garmaise (UCLA Anderson), Gabriel Natividad (NYU Stern)

Presenta - Gabriel Natividad (NYU Stern)

Abstract - When a ?rm receives improved access to credit, do neighboring ?rms bene?t or su?er? We analyze ?rm-speci?c ?nancing shocks generated by exchange-rate-induced movements of Peruvian ?rms across a threshold that governs their regulatory treatment by banks. Firms that cross the threshold experience a substantial increase in bank ?nancing. We ?nd strong negative spillover e?ects: the increased ?nancing for the ?rms receiving positive funding shocks is completely o?set by decreased funding for their neighbors. In the medium-term, these neighbors are more likely to exit the ?nancial system, but the surviving neighbors thrive.

El Seminario se realizará el jueves 10 de 13:00 a 14:00 horas, en la sala P-307, Tercer Piso del edificio Placa de la Facultad de Economía y Negocios de la Universidad de Chile.