. Our results suggest that financial constraints and the availability of credit play an important role in firm …

This thesis consists of four self-contained papers related to banking, credit markets and financial stability. Paper [I …] presents a credit market model and finds, using an agent based modeling approach, that credit crunches have a tendency to occur …; even when credit markets are almost entirely transparent in the absence of external shocks. We find evidence supporting the …

loans. The results of this article suggest that the decline in the aggregated credit volume in the period under review does … supply-oriented disturbances in the credit market („credit crunch“) adversely affecting the firms examined to varying degrees. …

in credit transactions has not yet led to a significant reduction of sectoral debt-to-GDP ratios. Subdued output growth … number of European economies. Since these are often the countries that had experienced strong credit booms prior to the …