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This dissertation was written by Christopher Weber during his time as a research assistant at the Center for Economic Studies (CES) at the Ludwig-Maximilians-Universität (LMU) Munich. It was handed in at the department of Economics at the LMU Munich in July 2016. The goal of the thesis is to...
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intermediaries play a critical role in the allocation of credit in the economy. They are the primary source of credit for consumers … of the efficacy of monetary policy. This working paper analyses the link between the real economy and the financial … sector, and channels through which the financial system may transmit instability to the real economy. …
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