This paper analyzes the ability of unconventional monetary policies to reduce the spread between the credit and the … troubled assets is more successful in reducing the credit spread than the creation of central bank lending facilities. Key …

Finanzkrise der Jahre 2007/2008 drastisch geändert. Vor diesem Hintergrund beschäftigt sich die vorliegende Dissertation vor allem … Maßnahmen nach der Globalen Finanzkrise in der Eurozone auf die Kreditvergabe schwächer ausfielen. Durch die Verwendung der …

In the financial accelerator literature pioneered by Bernanke, Gertler and Gilchrist (1999) entrepreneurs are myopic …

-taking channel. A model combining fragile banks prone to risk mis-incentives and credit constrained firms, whose collateral …, therefore dampening the conventional amplification effect of the financial accelerator. …

of monetary policy can be linked to weaker responses of credit costs, suggesting a financial accelerator mechanism that … more sensitive to aggregate shocks and the financial accelerator more effective. On the contrary, in high volatility … periods, banks decrease leverage, which renders the financial accelerator less effective; this in turn decreases the ability …

This paper studies the effects of labor market outcomes on firms' loan demand and on credit intermediation. In a first …-model with financial frictions and an endogenous financial accelerator mechanism. Third, I investigate how perfect and imperfect … labor markets, in a setting with interactions between production factor costs and the intermediation of credit, affect the …