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VERSION:2.0
PRODID:-//AMSE//Event Calendar//FR
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UID:event-8334@www.amse-aixmarseille.fr
DTSTAMP:20260430T051346Z
CREATED:20260430T051346Z
LAST-MODIFIED:20260430T051346Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:phd seminar - Mélina London*\, Carolina Ulloa Suarez**
DTSTART:20210928T090000Z
DTEND:20210928T101500Z
DESCRIPTION:*While trade credits from suppliers to their buyers is used by 
 many firms in normal times as a substitute to bank loans\, in times of bank
 ing crisis this source of credit has been found to dry out. This paper stud
 ies the behavior of trade credits after sudden stops in net capital flows\,
  another type of financial tightening\, mostly affecting emerging markets. 
 We study the impact of the 2015 sudden stop -when the Fed rose its interest
  rate for the first time in nearly a decade- on a set of emerging countries
 . Using an original dataset on trade credits on a monthly basis\, we analyz
 e whether suppliers in foreign countries have substituted to local financin
 g scheme to provide credits to their buyers during the 2015 sudden stop. We
  find a negative effect of the sudden stop on the amount of trade credits s
 ent towards buyers in affected markets. We show that this effect is strongl
 y dependent on a set of country's macroeconomic characteristics as well as 
 on the currency denomination.**Income inequality is the source of various m
 acroeconomic imbalances and one of most obvious expressions of Latin Americ
 an disparities'. Since the early 2000s\, some countries in the region have
  implemented fiscal rules to achieve better control over macroeconomic aggr
 egates and cut down the economic and social costs that fiscal indiscipline
  causes. However\, they may breed social costs over time due to the systema
 tic bias against public investment. This paper analyses the effect of impl
 ementing fiscal rules on income inequality for Latin American countries. Us
 ing the synthetic control approach\, I find evidence that implementing fisc
 al rules in these countries has not necessarily affected the existent effo
 rts to bring down inequality. This result is robust to different measures o
 f inequality. Overall\, the results suggest that any economic stigma that 
 may prevent countries from implementing fiscal rules because of unwanted si
 de effects on inequality is unwarranted. On the contrary\, I show that the
  type of fiscal rule and its design and implementation in each country best
  explain the existence (or lack thereof) of possible social costs\, such a
 s increased income inequality.\\n\\nContact: Kenza Elass : kenza.elass[at]u
 niv-amu.frCamille Hainnaux : camille.hainnaux[at]univ-amu.frDaniela Horta S
 aenz : daniela.horta-saenz[at]univ-amu.frJade Ponsard : jade.ponsard[at]uni
 v-amu.fr\n\nPlus d'informations: https://www.amse-aixmarseille.fr/fr/evenem
 ents/m%C3%A9lina-london-carolina-ulloa-suarez
LOCATION:Îlot Bernard du Bois - Salle 21\, AMU - AMSE\, 5-9 boulevard Maur
 ice Bourdet\, 13001 Marseille
URL;VALUE=URI:https://www.amse-aixmarseille.fr/fr/evenements/m%C3%A9lina-london-carolina-ulloa-suarez
CONTACT:Kenza Elass : kenza.elass[at]univ-amu.frCamille Hainnaux : camille.
 hainnaux[at]univ-amu.frDaniela Horta Saenz : daniela.horta-saenz[at]univ-am
 u.frJade Ponsard : jade.ponsard[at]univ-amu.fr
TRANSP:OPAQUE
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