Gastón Repetto - Academia.edu (original) (raw)
Papers by Gastón Repetto
Las opiniones vertidas en este trabajo son exclusiva responsabilidad de los autores y no reflejan... more Las opiniones vertidas en este trabajo son exclusiva responsabilidad de los autores y no reflejan necesariamente la posición del Banco Central de la República Argentina. La serie ESTUDIOS BCRA Documentos de Trabajo está compuesta por material preliminar que se hace circular con el propósito de estimular el debate académico y recibir comentarios. Toda referencia que desee efectuarse a estos Documentos deberá contar con la autorización del o los autores.
Routledge studies in the modern world economy, Apr 27, 2007
RePEc: Research Papers in Economics, Nov 1, 2012
Economist usually think and work taking into account the temporal dimension of economic and finan... more Economist usually think and work taking into account the temporal dimension of economic and financial processes. Time plays a key role in the economic decision making process and is a fundamental input for statistical models useful to analyze and predict social behavior. Thus time invades our practice. By contrast the role of territory in economic analysis is far more neglected. Territory is usually subsumed in other dimensions which are related, but are different. As a generator and promoter of public policies, the Central Bank of Argentina undergoes periodic efforts to measure, study and analyze the access and use of financial services by households and businesses in Argentina. The information gathered for this purposes, although descriptive, presents limitations on the spatial analysis that can be derived from it. Hence, we have systematized the information available to the Central Bank in the last ten years to move beyond that limitation. The result is a set of economic and financial variables and aggregate indicators of financial services market, demand and supply for 3431 Argentine localities. Furthermore, this paper, albeit being preliminary, proposes a system of geo-referenced local indicators which can be used as input for the formulation of economic and financial policies.
Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ti... more Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ti in na a i ie e | | I In nv ve es st ti ig ga ac ci io on ne es s E Ec co on nó óm mi ic ca as s
Routledge Studies in the Modern World Economy, 2007
BIS Working Papers Series, 2017
We aim to assess the impact of capital- and currency-based macroprudential policy measures on cre... more We aim to assess the impact of capital- and currency-based macroprudential policy measures on credit growth at the bank-firm level, using credit registry data from Argentina. We examine the impact of the introduction and tightening of a capital buffer and a limit on the foreign currency position of financial institutions on credit growth of firms, estimating fixed effects and difference-in-difference models for the period 2009-2014; we control for macroeconomic, financial institutions and firms' variables, both observable and unobservable. We find that: the capital buffer and the limits on foreign currency positions generally contribute to moderating the credit cycle, both when introduced and when tightened; the currency-based measure appears to have a quantitatively more important impact; both measures operate on the extensive and the intensive margins, and have an impact on credit supply. Macroprudential policies also have an effect on ex post credit quality: growth of non-per...
Broadening the geographical coverage of the Onancial system is one of the concerns of the Central... more Broadening the geographical coverage of the Onancial system is one of the concerns of the Central Bank of Argentina. In this regard, e§orts have been made to achieve a diagnosis of this issue at a national level. These led to concrete policy measures. Nevertheless, the spatial distribution of Onancial systems in large urban areas has been less explored. This paper aims at providing a comprehensive study of the geographical distribution of the supply and demand for Onancial services in the city of Buenos Aires. Our results are useful as drivers for economic and Onancial policy making at a urban level.
Broadening the geographical coverage of the …nancial system is one of the concerns of the Central... more Broadening the geographical coverage of the …nancial system is one of the concerns of the Central Bank of Argentina. In this regard, e¤orts have been made to achieve a diagnosis of this issue at a national level. These led to concrete policy measures. Nevertheless, the spatial distribution of …nancial systems in large urban areas has been less explored. This paper aims at providing a comprehensive study of the geographical distribution of the supply and demand for …nancial services in the city of Buenos Aires. Our results are useful as drivers for economic and …nancial policy making at a urban level. JEL Classi…cation: C31,G21, G28, R12
We aim to assess the impact of macroprudential policy measures on credit growth at the rm level,... more We aim to assess the impact of macroprudential policy measures on credit growth at the rm level, using credit registry panel data from Argentina. We examine the impact of the introduction and tightening of a capital bu¤er and a limit of the foreign currency position of nancial institutions on credit growth of rms, controlling for macroeconomic, nancial institutions and rmsvariables; the model is estimated for the period 2009-2014. We nd that the capital bu¤er is generally associated to lower credit growth, both when introduced and when tightened; limits on global foreign currency position are linked to lower credit growth when tightened; measures operate both on the extensive and the intensive margins. Macroprudential policies also have an e¤ect on credit quality: growth of non-performing loans is reduced after their implementation. And in general, credit granted by banks with more capital and assets evidences a higher impact of the introduction of the capital bu¤er, while th...
El desplazamiento de la investigacion social, del analisis de la macroeconomia de la estabilizaci... more El desplazamiento de la investigacion social, del analisis de la macroeconomia de la estabilizacion al estudio mas detallado de los procesos de desarrollo y crecimiento economico, es una consecuencia del incremento de las necesidades y demandas economicas y sociales insatisfechas, ante las cuales parece impotente el mero crecimiento de las grandes variables de la economia. En este trabajo los autores indagan acerca de la necesidad de contar con un conocimiento mas preciso sobre las verdaderas causas del crecimiento economico argentino en los ultimos anos.
Most of the recent studies about financial access use data provided by the “supply side” of finan... more Most of the recent studies about financial access use data provided by the “supply side” of financial markets as input for their analysis. Amounts of deposits and credits and numbers of accounts, financial institutions, branches and ATMs, are some of the considered variables. Statistics of this kind are frequently gathered and regularly published by financial regulators. Most of the core indicators of financial access, depth and coverage are produced by combining this information with economic and socio-demographic data from the geographical region under study. The analysis of these indicators leads to general conclusions about how broad, deep and accessible financial markets are. Nevertheless, this sort of information is not sufficient when we attempt to narrow the information gap mentioned in the abstract.
Immigrant Adjustment in Israel: Literacy and Fluency in Hebrew and Earnings * This paper is an an... more Immigrant Adjustment in Israel: Literacy and Fluency in Hebrew and Earnings * This paper is an analysis of the determinates of Hebrew language speaking and writing skills and the determinates of earnings among adult male Jewish immigrants in Israel, using the 1972 Census of Israel. Among other findings, Hebrew speaking skills and Hebrew literacy are shown to increase with level of schooling and duration in Israel, but to decrease with age at migration and if many others in the area in which the respondent lives speak the same origin language. Country of origin and family structure also matter. Earnings are found to increase with level of schooling, duration in Israel, pre-immigration labor market experience and proficiency in both speaking and writing Hebrew. Those who speak Hebrew on a daily basis as a primary or only language and who can write a letter in Hebrew earn about 20 percent more than those who do neither. Controlling for these variables, as well as country of origin, English speakers earn about 15 percent more and Arabic speakers earn 2 percent less than Hebrew speaking immigrants who speak neither of these languages. Comparisons are made to a study of immigrants in the 1983 Census of Israel, and immigrants in other countries. Estimates of the rate of return to the investment in language training are presented.
Downloadable! In order to promote public policies aimed at enhancing financial inclusion, the Cen... more Downloadable! In order to promote public policies aimed at enhancing financial inclusion, the Central Bank of Argentina makes periodic efforts to study, measure and analyze the processes of access and use of financial services by households in Argentina. The main objective of ...
B Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ... more B Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ti in na a i ie e | | I In nv ve es st ti ig ga ac ci io on ne es s E Ec co on nó óm mi ic ca as s Enero
International Migration, 2001
This article is concerned with identifying, for the first time, the separate effects of linguisti... more This article is concerned with identifying, for the first time, the separate effects of linguistic distance (language of origin) and country of origin on the destination language proficiency of immigrants. The determinants of Hebrew language proficiency (fluency and literacy) among immigrants in Israel are studied using the 1972 Census of Israel and the Immigration Absorption (panel) Surveys conducted in the 1970s.
This Discussion Paper is issued within the framework of IZA's research area Mobility and Flexibil... more This Discussion Paper is issued within the framework of IZA's research area Mobility and Flexibility of Labor Markets. Any opinions expressed here are those of the author(s) and not those of the institute. Research disseminated by IZA may include views on policy, but the institute itself takes no institutional policy positions.
Las opiniones vertidas en este trabajo son exclusiva responsabilidad de los autores y no reflejan... more Las opiniones vertidas en este trabajo son exclusiva responsabilidad de los autores y no reflejan necesariamente la posición del Banco Central de la República Argentina. La serie ESTUDIOS BCRA Documentos de Trabajo está compuesta por material preliminar que se hace circular con el propósito de estimular el debate académico y recibir comentarios. Toda referencia que desee efectuarse a estos Documentos deberá contar con la autorización del o los autores.
Routledge studies in the modern world economy, Apr 27, 2007
RePEc: Research Papers in Economics, Nov 1, 2012
Economist usually think and work taking into account the temporal dimension of economic and finan... more Economist usually think and work taking into account the temporal dimension of economic and financial processes. Time plays a key role in the economic decision making process and is a fundamental input for statistical models useful to analyze and predict social behavior. Thus time invades our practice. By contrast the role of territory in economic analysis is far more neglected. Territory is usually subsumed in other dimensions which are related, but are different. As a generator and promoter of public policies, the Central Bank of Argentina undergoes periodic efforts to measure, study and analyze the access and use of financial services by households and businesses in Argentina. The information gathered for this purposes, although descriptive, presents limitations on the spatial analysis that can be derived from it. Hence, we have systematized the information available to the Central Bank in the last ten years to move beyond that limitation. The result is a set of economic and financial variables and aggregate indicators of financial services market, demand and supply for 3431 Argentine localities. Furthermore, this paper, albeit being preliminary, proposes a system of geo-referenced local indicators which can be used as input for the formulation of economic and financial policies.
Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ti... more Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ti in na a i ie e | | I In nv ve es st ti ig ga ac ci io on ne es s E Ec co on nó óm mi ic ca as s
Routledge Studies in the Modern World Economy, 2007
BIS Working Papers Series, 2017
We aim to assess the impact of capital- and currency-based macroprudential policy measures on cre... more We aim to assess the impact of capital- and currency-based macroprudential policy measures on credit growth at the bank-firm level, using credit registry data from Argentina. We examine the impact of the introduction and tightening of a capital buffer and a limit on the foreign currency position of financial institutions on credit growth of firms, estimating fixed effects and difference-in-difference models for the period 2009-2014; we control for macroeconomic, financial institutions and firms' variables, both observable and unobservable. We find that: the capital buffer and the limits on foreign currency positions generally contribute to moderating the credit cycle, both when introduced and when tightened; the currency-based measure appears to have a quantitatively more important impact; both measures operate on the extensive and the intensive margins, and have an impact on credit supply. Macroprudential policies also have an effect on ex post credit quality: growth of non-per...
Broadening the geographical coverage of the Onancial system is one of the concerns of the Central... more Broadening the geographical coverage of the Onancial system is one of the concerns of the Central Bank of Argentina. In this regard, e§orts have been made to achieve a diagnosis of this issue at a national level. These led to concrete policy measures. Nevertheless, the spatial distribution of Onancial systems in large urban areas has been less explored. This paper aims at providing a comprehensive study of the geographical distribution of the supply and demand for Onancial services in the city of Buenos Aires. Our results are useful as drivers for economic and Onancial policy making at a urban level.
Broadening the geographical coverage of the …nancial system is one of the concerns of the Central... more Broadening the geographical coverage of the …nancial system is one of the concerns of the Central Bank of Argentina. In this regard, e¤orts have been made to achieve a diagnosis of this issue at a national level. These led to concrete policy measures. Nevertheless, the spatial distribution of …nancial systems in large urban areas has been less explored. This paper aims at providing a comprehensive study of the geographical distribution of the supply and demand for …nancial services in the city of Buenos Aires. Our results are useful as drivers for economic and …nancial policy making at a urban level. JEL Classi…cation: C31,G21, G28, R12
We aim to assess the impact of macroprudential policy measures on credit growth at the rm level,... more We aim to assess the impact of macroprudential policy measures on credit growth at the rm level, using credit registry panel data from Argentina. We examine the impact of the introduction and tightening of a capital bu¤er and a limit of the foreign currency position of nancial institutions on credit growth of rms, controlling for macroeconomic, nancial institutions and rmsvariables; the model is estimated for the period 2009-2014. We nd that the capital bu¤er is generally associated to lower credit growth, both when introduced and when tightened; limits on global foreign currency position are linked to lower credit growth when tightened; measures operate both on the extensive and the intensive margins. Macroprudential policies also have an e¤ect on credit quality: growth of non-performing loans is reduced after their implementation. And in general, credit granted by banks with more capital and assets evidences a higher impact of the introduction of the capital bu¤er, while th...
El desplazamiento de la investigacion social, del analisis de la macroeconomia de la estabilizaci... more El desplazamiento de la investigacion social, del analisis de la macroeconomia de la estabilizacion al estudio mas detallado de los procesos de desarrollo y crecimiento economico, es una consecuencia del incremento de las necesidades y demandas economicas y sociales insatisfechas, ante las cuales parece impotente el mero crecimiento de las grandes variables de la economia. En este trabajo los autores indagan acerca de la necesidad de contar con un conocimiento mas preciso sobre las verdaderas causas del crecimiento economico argentino en los ultimos anos.
Most of the recent studies about financial access use data provided by the “supply side” of finan... more Most of the recent studies about financial access use data provided by the “supply side” of financial markets as input for their analysis. Amounts of deposits and credits and numbers of accounts, financial institutions, branches and ATMs, are some of the considered variables. Statistics of this kind are frequently gathered and regularly published by financial regulators. Most of the core indicators of financial access, depth and coverage are produced by combining this information with economic and socio-demographic data from the geographical region under study. The analysis of these indicators leads to general conclusions about how broad, deep and accessible financial markets are. Nevertheless, this sort of information is not sufficient when we attempt to narrow the information gap mentioned in the abstract.
Immigrant Adjustment in Israel: Literacy and Fluency in Hebrew and Earnings * This paper is an an... more Immigrant Adjustment in Israel: Literacy and Fluency in Hebrew and Earnings * This paper is an analysis of the determinates of Hebrew language speaking and writing skills and the determinates of earnings among adult male Jewish immigrants in Israel, using the 1972 Census of Israel. Among other findings, Hebrew speaking skills and Hebrew literacy are shown to increase with level of schooling and duration in Israel, but to decrease with age at migration and if many others in the area in which the respondent lives speak the same origin language. Country of origin and family structure also matter. Earnings are found to increase with level of schooling, duration in Israel, pre-immigration labor market experience and proficiency in both speaking and writing Hebrew. Those who speak Hebrew on a daily basis as a primary or only language and who can write a letter in Hebrew earn about 20 percent more than those who do neither. Controlling for these variables, as well as country of origin, English speakers earn about 15 percent more and Arabic speakers earn 2 percent less than Hebrew speaking immigrants who speak neither of these languages. Comparisons are made to a study of immigrants in the 1983 Census of Israel, and immigrants in other countries. Estimates of the rate of return to the investment in language training are presented.
Downloadable! In order to promote public policies aimed at enhancing financial inclusion, the Cen... more Downloadable! In order to promote public policies aimed at enhancing financial inclusion, the Central Bank of Argentina makes periodic efforts to study, measure and analyze the processes of access and use of financial services by households in Argentina. The main objective of ...
B Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ... more B Ba an nc co o C Ce en nt tr ra al l d de e l la a R Re ep pú úb bl li ic ca a A Ar rg ge en nt ti in na a i ie e | | I In nv ve es st ti ig ga ac ci io on ne es s E Ec co on nó óm mi ic ca as s Enero
International Migration, 2001
This article is concerned with identifying, for the first time, the separate effects of linguisti... more This article is concerned with identifying, for the first time, the separate effects of linguistic distance (language of origin) and country of origin on the destination language proficiency of immigrants. The determinants of Hebrew language proficiency (fluency and literacy) among immigrants in Israel are studied using the 1972 Census of Israel and the Immigration Absorption (panel) Surveys conducted in the 1970s.
This Discussion Paper is issued within the framework of IZA's research area Mobility and Flexibil... more This Discussion Paper is issued within the framework of IZA's research area Mobility and Flexibility of Labor Markets. Any opinions expressed here are those of the author(s) and not those of the institute. Research disseminated by IZA may include views on policy, but the institute itself takes no institutional policy positions.