This thesis investigates how financial institutions and policies by public institutions shape credit market dynamics. I focus on the roles of monetary policy, government credit programs, and macroprudential regulation. The ...

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. ...

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 ...