Trade Credit and Financial Amplification
2022-11-17 12:45 - 14:00 (Europe/Helsinki) | 15.1.39
Luigi Bocola
(Stanford)

“Trade Credit and Financial Amplification” (joint with G. Bornstein)

In most countries, suppliers of intermediate goods are also the main providers of short term financing to their customers via trade credit contracts. This paper builds a model where these inter-firm financial linkages arise endogenously and uses it to understand how trade credit responds to financial shocks and affects their propagation. In the model, trade credit is the outcome of a long-term contract between firms in a production line: downstream firms have incentives to repay their debt when the relationship with their supplier is valuable, and the higher is the value of such relationship the more trade credit the pair can sustain. In addition, production lines that can sustain more trade credit are better able to smooth the impact of financial shocks, provided that suppliers have enough borrowing capacity themselves. Using Italian data, we show that the model can rationalize the observed differences across industries in trade credit and in their performance during the Great Recession.
Face-to-face Seminar – Room 15.1.39

Expenditure Consolidation and Sovereign Debt Restructurings: Front- or Back-loaded
2022-12-13 12:45 - 14:00 | 15.1.39
Tamon Asonuma
(International Monetary Fund)

“Expenditure Consolidation and Sovereign Debt Restructurings: Front- or Back-loaded” (joint with Hyungseok Joo)

Face-to-face Seminar – Room 15.1.39

Economic consequences of vertical mismatch
2023-03-01 12:45 - 14:00 | 15.1.39
Pedro Gomes
(Birkbeck, University of London)

“Economic consequences of vertical mismatch”

Face-to-face Seminar – Room 15.1.39

Status Externalities in Education and Low Birth Rates in Korea
2023-03-02 12:45 - 14:00 | 15.1.39
Michèle Tertilt
(University of Mannheim)

“Status Externalities in Education and Low Birth Rates in Korea*”

Face-to-face Seminar – Room 15.1.39

Equity and Efficiency of Childcare Subsidies: A Structural Approach
2023-03-09 12:45 - 14:00 | 15.1.39
Dominik Sachs
(University of St. Gallen)

“Equity and Efficiency of Childcare Subsidies: A Structural Approach”

Face-to-face Seminar – Room 15.1.39

Forbearance vs. Interest Rates
2023-03-16 12:45 - 14:00 | 15.1.39
Deniz Aydin
(Olin Business School)

“Forbearance vs. Interest Rates”

Face-to-face Seminar – Room 15.1.39

Cyclical Earnings, Career and Employment Transitions
2023-03-17 12:45 - 14:00 | 15.1.41
Ludo Visschers
(University of Edinburgh)

“Cyclical Earnings, Career and Employment Transitions” with Carlos Carrillo-Tudela and David Wiczer

Face-to-face Seminar – Room 15.1.41

The wage elasticity of recruitment
2023-03-23 12:45 - 14:00 | 15.1.39
Alan Manning
(LSE)

“The wage elasticity of recruitment”

Face-to-face Seminar – Room 15.1.39

Of Cities and Slums
2023-03-30 12:45 - 14:00 | 15.1.39
Alexander Monge-Naranjo
(EUI)

“Of Cities and Slums”

Face-to-face Seminar – Room 15.1.39

Pricing Inequality
2023-04-13 12:45 - 14:00 | 15.1.39
Simon Mongey
(University of Chicago)

“Pricing Inequality*” with Michael Waugh

Face-to-face Seminar – Room 15.1.39

Robot Adoption and Inflation Dynamics
2023-04-20 12:45 - 14:00 | 15.1.39
Henrique S. Basso
(Banco de España)

“Robot Adoption and Inflation Dynamics”

Face-to-face Seminar – Room 15.1.39

Bailouts and the Maturity of Sovereign Debt
2023-04-26 12:45 - 14:00 | 15.1.39
Timm Prein
(University of Helsinki)

“Bailouts and the Maturity of Sovereign Debt”

Face-to-face Seminar – Room 15.1.39

Granular Corporate under Dominant Currency
2023-04-27 12:45 - 14:00 | 15.1.39
Liliana Varela
(LSE)

“Granular Corporate under Dominant Currency” joint with Laura Alfaro and Mauricio Calani

Face-to-face Seminar – Room 15.1.39

Central Bank Response to a Negative Cash Flow or How to Inflate if You Must
2023-05-04 12:45 - 14:00 | 15.1.39
Rodolfo Manuelli
(WUSTL)

“Central Bank Response to a Negative Cash Flow or How to Inflate if You Must”

Face-to-face Seminar – Room 15.1.39

Supply Chain Constraints and Inflation
2023-05-11 12:45 - 14:00 | 15.1.39
Diego Comin
(Dartmouth)

“Supply Chain Constraints and Inflation”

Face-to-face Seminar – Room 15.1.39

Asymmetric Monetary Policy Tradeoffs
2023-05-15 12:45 - 14:00 | 15.1.39
Luca Gambetti
(UAB)

“Asymmetric Monetary Policy Tradeoffs”

Face-to-face Seminar – Room 15.1.39

Luxuries, Necessities, and the Allocation of Time
2023-06-08 12:45 - 14:00 | 15.1.39
Pedro Silos
(Temple University)

“Luxuries, Necessities, and the Allocation of Time” (joint work with L. Fang and A. Hannusch)

Face-to-face Seminar – Room 15.1.39

The Tinbergen Race: Education, Technology and Wage Inequality
2023-06-27 12:45 - 14:00 | 15.1.41
Raquel Fonseca
(ESG-UQAM)

“The Tinbergen Race: Education, Technology and Wage Inequality”

Face-to-face Seminar – Room 15.1.41

Beyond the Hump: Structural Change in an Open Economy
2023-09-14 12:45 - 14:00 | 15.1.39
Lidia Smitkova
(University of Oxford)

“Beyond the Hump: Structural Change in an Open Economy”

Face-to-face Seminar – Room 15.1.39

Capital Embodied Structural Change
2023-09-21 12:45 - 14:00 | 15.1.39
Elisa Keller
(University of Exeter)

“Capital Embodied Structural Change”

Face-to-face Seminar – Room 15.1.39

Capital Flows to Emerging Markets: Disentangling Quantities from Prices
2023-09-27 12:45 - 14:00 | 15.1.39
Alejandro Vicondoa
(Pontificia Universidad Católica de Chile)

“Capital Flows to Emerging Markets: Disentangling Quantities from Prices”

Face-to-face Seminar – Room 15.1.39

It Takes a Village: The Economics of Parenting with Neighborhood and Peer Effects*
2023-10-05 12:45 - 14:00 | 15.1.39
Matthias Doepke
(London School of Economics)

“It Takes a Village: The Economics of Parenting with Neighborhood and Peer Effects*”

Face-to-face Seminar – Room 15.1.39

The Changing Value of Employment and Its Implications
2023-10-26 12:45 - 14:00 | 15.1.39
Giovanni Gallipoli
(UBC)

“The Changing Value of Employment and Its Implications”

Face-to-face Seminar – Room 15.1.39

Homeownership and job separations: a surprising mix
2023-11-02 12:45 - 14:00 | 15.1.39
Joaquín García-Cabo
(Federal Reserve Board)

“Homeownership and job separations: a surprising mix“

Face-to-face Seminar – Room 15.1.39

Payments and Prices
2023-11-09 12:45 - 14:00 | 15.1.39
Dirk Niepelt
(University of Bern)

“Payments and Prices”

Face-to-face Seminar – Room 15.1.39

Optimal Monetary Policy during a Cost-of-Living Crisis
2023-11-16 12:45 - 14:00 | 15.1.39
Dajana Xhani
(Tilburg University)

“Optimal Monetary Policy during a Cost-of-Living Crisis”

Face-to-face Seminar – Room 15.1.39

Default and Interest Rate Shocks: Renegotiation Matters
2023-12-11 12:45 - 14:00 | 15.1.39
Timothy J. Kehoe
(University of Minnesota)

“Default and Interest Rate Shocks: Renegotiation Matters”

Face-to-face Seminar – Room 15.1.39

Stimulus through Insurance: the Marginal Propensity to Repay Debt
2023-12-13 12:45 - 14:00 | 15.1.39
Davide Melcangi
(Federal Reserve Bank of New York)

“Stimulus through Insurance: the Marginal Propensity to Repay Debt”

Face-to-face Seminar – Room 15.1.39

Why do Couples and Singles Save During Retirement? Household Heterogeneity and its Aggregate Implications
2024-03-07 12:45 - 14:00 | 15.1.39
Mariacristina De Nardi
(University of Minnesota)

“Why do Couples and Singles Save During Retirement? Household Heterogeneity and its Aggregate Implications”

Face-to-face Seminar – Room 15.1.39

Consumer Loans, Heterogeneous Interest Rates, and Inequality
2024-03-14 12:45 - 14:00 | 15.1.39
Tiago Cavalcanti
(University of Cambridge)

“Consumer Loans, Heterogeneous Interest Rates, and Inequality”

Face-to-face Seminar – Room 15.1.39
