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2013 - Programme The Impact of Credit on the Dynamics of SMEs

THURSDAY, 17 OCTOBER 2013 “ Board Room at DNB  
Opening by Jakob de Haan, Head of Research of De Nederlandsche Bank (DNB) 


SESSION I: Bank Credit and Firm Dynamics

Chair: Paul Cavelaars (DNB, Head of Banking Supervision Strategy)

Mary Amiti (Federal Reserve Bank of New York)   Presentation
'How Much Do Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data'
Discussant: Erasmo Giambona (UVA, Amsterdam Business School)  Discussion

Neeltje van Horen  (DNB)  Presentation
'Shocks Abroad, Pain at Home? Bank-Firm Level Evidence on Financial Contagion  during the 2007-2009  Crisis'
Discussant: Luc Laeven (International Monetary Fund)  Discussion
Keynote Address: Gregory Udell (Indiana University)  Presentation
Effects of Frictions in Credit Provision to SMEs 

SESSION II: Job Destruction in the Great Recession

Chair: Jakob de Haan (DNB, Head of Research) 
Pedro Portugal (Banco de Portugal)  Presentation
'Catastrophic Job Destruction'
Discussant: Stephan Hochguertel (VU University Amsterdam)  Discussion  
Marcel Jansen (Universidad Autonoma de Madrid)  Presentation
'When Credit Dries Up: Job Losses in the Great Recession' Slides
Discussant: Gabriel Chodorow-Reich (Harvard University)  Discussion

FRIDAY, 18 OCTOBER 2013 “ Board Room at DNB

SESSION III: Credit, Start-ups and Job Creation

Chair: Peter van Els (DNB, Head of Monetary Policy Analysis)

Petr Sedlaceck (University of Bonn)  Presentation
'Recession Scars and the Growth Potential on Newborn Firms in General Equilibrium' 
Discussant: Eric Bartelsman (VU University Amsterdam)  Discussion  
Immo Schott (European University Institute)  Presentation
'Start-ups, Credit, and the Jobless Recovery' 
Discussant: Andrea Colciago (DNB)  Discussion
Keynote Address: Andrea Caggese (Universitat Pompeu Fabra)  Presentation
Financial Constraints and Firms' Dynamics
Chair: Jan Marc Berk (Director of Economics and Research of DNB)

SESSION IV: Credit, Monetary Policy Transmission and the Real Economy

Chair: Klaas Knot (President of DNB)

Ander Perez (Universitat Pompeu Fabra)  Presentation
'Is Bank Debt Special for the Transmission of Monetary Policy? Evidence from the Stock Market' 
Discussant: Marcello Pericoli (Banca d'Italia)  Discussion
Alessio d'ignazio (Banca d'Italia)  Presentation
'The Causal Effect of Credit Guarantees for SMEs: Evidence from Italy' 
 Discussant: Inga Heiland (Ifo institute)  Discussion