{"id":9075,"date":"2022-02-16T09:24:40","date_gmt":"2022-02-16T08:24:40","guid":{"rendered":"https:\/\/ecobas.gal\/?post_type=seminario&#038;p=9075"},"modified":"2022-06-07T11:09:53","modified_gmt":"2022-06-07T09:09:53","slug":"ecobas-research-seminar-tiago-tavares-itam-mexico","status":"publish","type":"seminario","link":"https:\/\/ecobas.gal\/en\/seminario\/ecobas-research-seminar-tiago-tavares-itam-mexico\/","title":{"rendered":"ECOBAS Research Seminar: Tiago Tavares \u2013 ITAM (M\u00e9xico)"},"content":{"rendered":"<p><strong>ABSTRACT<\/strong>:<\/p>\n<p>Using new census-type data and a dynamic structural model, we study the effect of credit supply on investment by manufacturing firms during the Greek depression. Real factors (profitability, uncertainty, and taxes) account for only a fraction of the substantial drop in investment observed in the data. The reduction in credit supply has significant real effects, explaining 11\u201332% of the investment slump. We also find that exporting firms, which reduce investment and deleverage despite their improved profitability during the crisis, face a contraction in credit supply similar to that of non-exporters, suggesting that the credit-supply shock has a significant common component.<\/p>\n<h5><a href=\"http:\/\/www.tgstavares.com\/\" target=\"_blank\" rel=\"noopener\"><strong>More info about the speaker<\/strong><\/a><\/h5>\n","protected":false},"featured_media":9014,"parent":0,"template":"","categoria_seminario":[174],"ano_seminario":[170],"class_list":["post-9075","seminario","type-seminario","status-publish","has-post-thumbnail","hentry","categoria_seminario-ecobas_seminar","ano_seminario-2022-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ECOBAS Research Seminar: Tiago Tavares \u2013 ITAM (M\u00e9xico) - ECOBAS<\/title>\n<meta name=\"description\" content=\"ECOBAS Research Seminar: Tiago Tavares \u2013 ITAM (M\u00e9xico) &#039;Investment Slumps During Financial Crises: The Real Effects of Credit Supply&#039;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ecobas.gal\/en\/seminario\/ecobas-research-seminar-tiago-tavares-itam-mexico\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECOBAS Research Seminar: Tiago Tavares \u2013 ITAM (M\u00e9xico) - 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