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Papers by Tamara Burdisso
The Stata Journal: Promoting communications on statistics and Stata, 2016
In this article, we discuss the econometric treatment of macropanels, also known as panel time se... more In this article, we discuss the econometric treatment of macropanels, also known as panel time series. This new approach rejects the assumption of slope homogeneity and handles nonstationarity. It also recognizes that cross-section dependence (that is, some correlation structure in the error term between units due to unobservable common factors) squanders efficiency gains by operating with a panel. This approach uses a new set of estimators known in the literature as the common correlated effect, which essentially consists of increasing the model to be fit by adding the averages of the individuals in each time t, of both the dependent variable and the specific regressors of each individual. We present two commands developed for the evaluation and treatment of cross-section dependence.
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Using data from the Argentine Central Banks ’ Central de Deudores, we study bank lending to SMEs ... more Using data from the Argentine Central Banks ’ Central de Deudores, we study bank lending to SMEs and to larger firms over the period July 1998 to 2000. We consider three definitions of SMEs: system wide debt of less than $2.5 million, less than 200 workers, and a bivarate definitions that combines those two ones. We compare lending to SMEs by banks in groups determined by geographical and ownership characteristics and find little bias against SMEs from bank consolidation or from increased international ownership. We did find that during the business downturn delimited by our data, that large firm borrowing crowded out SMEs in the early period and government borrowing crowded out private borrowing over the whole period. Credit quality of bank portfolios has been worse than portfolios of larger firms and has worsened during the downturn. Portfolios of government owned banks have had worse credit quality than private banks for both small and large firms. JEL Classification: G21, E51
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Monetaria, 2011
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The Argentine banking industry has experienced,a deep restructuring process since the beginning o... more The Argentine banking industry has experienced,a deep restructuring process since the beginning of Convertibility, when the industry was opened to competition and new prudential regulations were put in place in order to improve its solvency. Jointly with a dramatic increase in banking output, prompted by macroeconomic stability, the number of firms operating in the industry declined significantly. We analyze
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Economica, Dec 1, 1995
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Documento de Trabajo Nro, 1998
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Ensayos Economicos, 2006
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Documentos De Trabajo, May 1, 2013
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Ensayos Economicos, 2011
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Using data from the Argentine Central Banks' Central de Deudores, we study bank lending to SM... more Using data from the Argentine Central Banks' Central de Deudores, we study bank lending to SMEs and to larger firms over the period July 1998 to 2000. We consider three definitions of SMEs: system wide debt of less than $2.5 million, less than 200 workers, and a bivarate definitions that combines those two ones. We compare lending to SMEs by banks in groups determined by geographical and ownership characteristics and find little bias against SMEs from bank consolidation or from increased international ownership. We did find that during the business downturn delimited by our data, that large firm borrowing crowded out SMEs in the early period and government borrowing crowded out private borrowing over the whole period.
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The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in liter... more The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy discussions -and a challenge for central banks implementing IT, especially in developing countries. This paper aims at assessing whether there is a relation between the nominal exchange rate regime and inflation performance in IT countries. We use a panel of 22 countries
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The Stata Journal: Promoting communications on statistics and Stata, 2016
In this article, we discuss the econometric treatment of macropanels, also known as panel time se... more In this article, we discuss the econometric treatment of macropanels, also known as panel time series. This new approach rejects the assumption of slope homogeneity and handles nonstationarity. It also recognizes that cross-section dependence (that is, some correlation structure in the error term between units due to unobservable common factors) squanders efficiency gains by operating with a panel. This approach uses a new set of estimators known in the literature as the common correlated effect, which essentially consists of increasing the model to be fit by adding the averages of the individuals in each time t, of both the dependent variable and the specific regressors of each individual. We present two commands developed for the evaluation and treatment of cross-section dependence.
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Using data from the Argentine Central Banks ’ Central de Deudores, we study bank lending to SMEs ... more Using data from the Argentine Central Banks ’ Central de Deudores, we study bank lending to SMEs and to larger firms over the period July 1998 to 2000. We consider three definitions of SMEs: system wide debt of less than $2.5 million, less than 200 workers, and a bivarate definitions that combines those two ones. We compare lending to SMEs by banks in groups determined by geographical and ownership characteristics and find little bias against SMEs from bank consolidation or from increased international ownership. We did find that during the business downturn delimited by our data, that large firm borrowing crowded out SMEs in the early period and government borrowing crowded out private borrowing over the whole period. Credit quality of bank portfolios has been worse than portfolios of larger firms and has worsened during the downturn. Portfolios of government owned banks have had worse credit quality than private banks for both small and large firms. JEL Classification: G21, E51
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Monetaria, 2011
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The Argentine banking industry has experienced,a deep restructuring process since the beginning o... more The Argentine banking industry has experienced,a deep restructuring process since the beginning of Convertibility, when the industry was opened to competition and new prudential regulations were put in place in order to improve its solvency. Jointly with a dramatic increase in banking output, prompted by macroeconomic stability, the number of firms operating in the industry declined significantly. We analyze
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Economica, Dec 1, 1995
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Documento de Trabajo Nro, 1998
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Ensayos Economicos, 2006
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Documentos De Trabajo, May 1, 2013
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Ensayos Economicos, 2011
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Using data from the Argentine Central Banks' Central de Deudores, we study bank lending to SM... more Using data from the Argentine Central Banks' Central de Deudores, we study bank lending to SMEs and to larger firms over the period July 1998 to 2000. We consider three definitions of SMEs: system wide debt of less than $2.5 million, less than 200 workers, and a bivarate definitions that combines those two ones. We compare lending to SMEs by banks in groups determined by geographical and ownership characteristics and find little bias against SMEs from bank consolidation or from increased international ownership. We did find that during the business downturn delimited by our data, that large firm borrowing crowded out SMEs in the early period and government borrowing crowded out private borrowing over the whole period.
Bookmarks Related papers MentionsView impact
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The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in liter... more The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy discussions -and a challenge for central banks implementing IT, especially in developing countries. This paper aims at assessing whether there is a relation between the nominal exchange rate regime and inflation performance in IT countries. We use a panel of 22 countries
Bookmarks Related papers MentionsView impact