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UID:d75f12934a7acb96d6c4f459393881da
CATEGORIES:Seminars
CREATED:20260226T144100
SUMMARY:Lunch Seminar: Ludovic Panon - Banca d'Italia
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nThe Superstar Buyer Penalty during Financial Crises: Evidence from Firm
 -to-Firm Trade Data\n\n\nAbstract:\nThis paper documents that firms connect
 ed with superstar buyers experience larger real losses from financial shock
 s. We identify a new credit supply shock in Italy following the onset of th
 e sovereign debt crisis in 2011. We show that exporters more exposed to fra
 gile banks experienced a larger reduction in export flows between 2011 and 
 2015. Importantly, this decline was larger for exporters connected with for
 eign superstar buyers prior to the shock. This amplification effect reflect
 s foreign superstar firms reallocating their purchases away from more expos
 ed Italian exporters, which, as a consequence, also suffered weaker employm
 ent growth.\n
DTSTAMP:20260405T212159Z
DTSTART:20260402T130000Z
DTEND:20260402T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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