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This background document is associated to the CPB Policy brief on Dutch SME-bank financing in a European perspective. It explains in detail what we do in a microsimulation model that is described in a textframe on credit rationing on page 14 of the Policy Brief. On the basis of firm-level data from Statistics Netherlands and under strong assumptions, we estimate the amount of credit rationing that Dutch firms potentially faced in 2007-2016. Our simulation study is novel, and it highlights that researching credit rationing on the basis of microdata is feasible and that it can yield insights relevant for policy applications. →

This publication discusses the need for an EMU banking union and describes three possible transition scenarios. This is a translation of chapter 4 of the Dutch publication. →

In this paper we investigate whether the targeted longer-term refinancing operations (TLTRO) and the asset purchase program (APP) led to lower interest rates on new corporate credit, and whether the signalling channel and the capital relief channel played any role in the transmission of these ECB policies. →

Governments, when designing support for venture capital financing, face a choice to either sponsor existing private VC funds or organize and manage their own public VC funds. →