摘要翻译：
本文分析了银行贷款渠道及其对欧元区的异质性影响，提供了银行贷款渠道确实有效的证据。传导机制的分析是基于非常规货币政策对银行贷款冲击的结构脉冲响应。利用银行贷款调查(BLS)来了解贷款需求和供给的发展。本文的贡献在于使用国别数据来分析非常规货币政策的后果，而不是使用欧元区数据来采取总量立场。这种方法提供了对银行贷款渠道及其影响的更深入的理解。即扩张性货币政策冲击导致贷款需求增加、供给增加和产出增长。可以观察到这些国家之间的南北差距很小。
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英文标题：
《Heterogeneous Effects of Unconventional Monetary Policy on Loan Demand
  and Supply. Insights from the Bank Lending Survey》
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作者：
Martin Guth
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最新提交年份：
2018
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分类信息：

一级分类：Economics        经济学
二级分类：Econometrics        计量经济学
分类描述：Econometric Theory, Micro-Econometrics, Macro-Econometrics, Empirical Content of Economic Relations discovered via New Methods, Methodological Aspects of the Application of Statistical Inference to Economic Data.
计量经济学理论，微观计量经济学，宏观计量经济学，通过新方法发现的经济关系的实证内容，统计推论应用于经济数据的方法论方面。
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英文摘要：
  This paper analyzes the bank lending channel and the heterogeneous effects on the euro area, providing evidence that the channel is indeed working. The analysis of the transmission mechanism is based on structural impulse responses to an unconventional monetary policy shock on bank loans. The Bank Lending Survey (BLS) is exploited in order to get insights on developments of loan demand and supply. The contribution of this paper is to use country-specific data to analyze the consequences of unconventional monetary policy, instead of taking an aggregate stance by using euro area data. This approach provides a deeper understanding of the bank lending channel and its effects. That is, an expansionary monetary policy shock leads to an increase in loan demand, supply and output growth. A small north-south disparity between the countries can be observed.
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PDF链接：
https://arxiv.org/pdf/1807.04161