Nicole Cerpa Vielma

Nicole Cerpa Vielma

Profile

Qualifications

MSc Economics at University of Leeds
MSc Economics and Public Policy at Universidad Adolfo Ibáñez (UAI), Chile
BSc Economics at Universidad Adolfo Ibáñez (UAI), Chile

Scholarship

CONICYT PhD Fellowship, National Commission for Scientific and Technological Research Chile, 2018 

Prizes/Awards

FONDECYT MSc Thesis, National Fund for Scientific and Technological Development Chile, 2013

Research Experience

  • Research Assistant in Project "Minority Depository Institutions and Inclusive Community Development in California’s Post-Crisis Urban Context", Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve (FED), Washington DC, 2017
  • Research Assistant in Project "Market Concentration: A Review of the Chilean Market from 1900-2010", Universidad Adolfo Ibáñez Chile in collaboration with Harvard University, 2011
  • Research Assistant at Financial Firm (Global Trader, Chile) for financial index for new investment decisions, 2010

Conferences, Workshops and Summer Schools

  • 7th FMM International Summer School, Forum for Macroeconomics and Macroeconomic Policies (FMM), Berlin, 2019
  • 8th PKES Summer School, Introduction to Post Keynesian Economics and Political Economy, University of Greenwich, 2019
  • Informal Workshop on Exchange Rates, Capital Flows and Monetary Policy in Developing and Emerging Economies, University of Leeds, 2018
  • 19th ECLAC Summer School on Latin American Economies, Economic Commision for Latin America and the Caribbean (ECLAC), Santiago, 2018

Teaching Assistance Experience

  • Statistics for Economics and Business, University of Leeds, 2019
  • Public Policies, Universidad Adolfo Ibáñez, 2013 
  • Chilean Economy, Universidad Adolfo Ibáñez, 2013 
  • Operations Management, Universidad Adolfo Ibáñez, 2012 
  • Introduction to Economics for Engineering, Universidad Adolfo Ibáñez, 2011
  • Microeconomics II, Universidad Adolfo Ibáñez, 2010
  • Entrepreneurship, Universidad Adolfo Ibáñez, 2009

Professional Activities and Memberships

  • Postgraduate Researcher (PGR) Representative, Economics Division, University of Leeds, 2019
  • Member of ECLAC Alumni, Economic Commission for Latin America and the Caribbean 
  • Member of Post Keynesian Economics Society (PKES)

Research interests

  • Macroeconomic Theory and Policy, Money and Banking, Keynesian Theory, Development Economics, Latin American Economy, International Economics, International Finance, Political Economy


Thesis Title

New forms of the hegemony of the United States: Economic implications in Latin America


Summary

Throughout the last decade, the concept of ‘financialisation’ has acquired a growing role in the political and economic debate as a result of the financial crisis in 2008. This has placed finance, financial markets, actors and financial institutions at the centre of economic activity. Nevertheless, the literature about the increasing financialisation has solely focused on macroeconomic arguments. At the same time, the mechanisms by which financialisation has become considerably widespread, have received little attention. Financialisation literature lacks adequate microfoundation. What are the drivers of this phenomenon? What are the micro-level behavioural and organisational shifts on the financial supply side that expanded an increasing demand for finance even to other countries? What are the effects of financialisation? Does it affect certain countries more than others? The literature appears not to address these questions entirely. By considerating the drivers of financialisation processes only at a macro level, one can partly explain its roots. Likewise, it is necessary to identify the institutional contexts of this phenomenon.

A fundamental microeconomic factor that illustrates the growth of financialisation is the unceasing efforts of the U.S. banks for breaking the constraints from the Great Depression-era, in terms of their size, type of activities and market scale. These efforts and strategies of the U.S. banks for expanding their profits in the 1960s focused on competition through innovation, which led to the growth of these banks into megabanks, to an increased risk-taking and to expand the scale and reach of globalised financial markets to other countries. Therefore, one of the aims of this research is to analyse micro-level behavioural and organisational shifts on the part of the big megabanks in the U.S. to Latin America, by servicing non-traditional transactions, new kinds of instruments, and a shift towards market-based finance. Second, to analyse the innovations that transformed the institutional structure of financial practices, and third, to examine how these innovations affect the overall levels of economic activity and monetary policy of Latin American countries.

Blog

https://elatin2018.wixsite.com/elatin

Qualifications

  • MSc Economics at University of Leeds
  • MSc Economics and Public Policy at Universidad Adolfo Ibáñez (UAI), Chile
  • BSc Economics at Universidad Adolfo Ibáñez (UAI), Chile

Research groups and institutes

  • Applied Institute for Research in Economics