BEGIN:VCALENDAR VERSION:2.0 PRODID:-//AMSE//Event Calendar//FR CALSCALE:GREGORIAN METHOD:PUBLISH BEGIN:VEVENT UID:event-8756@amse-aixmarseille.fr DTSTAMP:20260416T171457Z CREATED:20260416T171457Z LAST-MODIFIED:20260416T171457Z STATUS:CONFIRMED SEQUENCE:0 SUMMARY:job market seminar - Clément Mazet-Sonilhac DTSTART:20220107T103000Z DTEND:20220107T114500Z DESCRIPTION:Motivated by empirical evidence I document on local credit mark ets in France using data on more than 3.5 million bank-firm relationships\, I propose a theory of bank-firm matching subject to search frictions. Firm s undergo a costly search process to locate and match with the right bankin g partner. Upon matching\, banks incur a cost to screen investment projects . I structurally estimate my model on French data using the staggered roll- out of Broadband Internet\, from 1997 to 2007\, as a shock to search fricti ons. I confirm the model predictions that a reduction in search frictions a ffects the allocation of credit and the dynamics of firm-bank matching. Fin ally\, I use the structure of my model to quantify the impact of this techn ology-induced reduction in search frictions on loan prices. I find that bro adband internet access reduced the cost of debt for small businesses by 4.9 %.\\n\\nContact: Frédéric Deroïan: frederic.deroian[at]univ-amu.fr\n\nP lus d'informations: https://amse-aixmarseille.fr/en/events/cl%C3%A9ment-maz et-sonilhac-0 URL;VALUE=URI:https://amse-aixmarseille.fr/en/events/cl%C3%A9ment-mazet-sonilhac-0 CONTACT:Frédéric Deroïan: \;frederic.deroian[at]univ-amu.fr TRANSP:OPAQUE END:VEVENT END:VCALENDAR