Small and medium-sized firms typically obtain capital via bank financing. They often rely on a mixture of relationship … show that the incidence of inefficient credit termination and subsequent firm liquidation is contingent on the borrower …'s quality and on the relationship bank's information precision. Generally, heterogeneous multiple banking leads to fewer …

different liquidity types, central bank liquidity, funding and market liquidity and their relevant risks. In order to understand … the workings of financial system liquidity, as well as the role of the central bank, we bring together relevant literature … bank liquidity can be important in managing a liquidity crisis, yet it is not a panacea. It can act as an immediate but …

to the Macroeconomics Dynamics special issues on money, credit and liquidity. …

Understanding the nature of credit risk has important implications for financial stability. Since authorities notably … difficulty lies in finding reliable measures of aggregate credit risk in the economy, as opposed to firmlevel credit risk. In … this paper, the authors examine two models recently developed for this purpose: a reduced-form model applied to credit …