This thesis provides a comparative perspective on current macro-financial phenomena. Understanding the causes and consequences of rare macroeconomic events and secular trends is inherently difficult. Competing theories and ...

Times of severe economic crisis are, fortunately, rare events. Large recessions, such as the Great Depression of the 1930s or the Great Recession during the late 2000s, have detrimental effects on all economic sectors. ...

This thesis analyzes key determinants of financial intermediation and financial stability in three self-contained parts.
The first part explores banks' lending behavior by analyzing the social ties within a ...

If we want to understand the most severe macroeconomic disruptions, we must understand the causes of financial instability. Despite their devastating economic and social consequences, financial crises have been recurring ...