英文文献：In Search of the "Bank Lending Channel": Causality Analysis for the Transmission Mechanism of U.S. Monetary Policy-寻找“银行借贷渠道”:美国货币政策传导机制的因果分析银行贷款渠道指出，货币政策的变化导致银行贷款的变化，从而导致实际收入的变化
英文文献作者：Bessler, David A.,Leatham, David J.,Yang, Juan
英文文献摘要：
The bank lending channel states that changes in monetary policy cause changes in bank loans thus causing changes in real income. This implies the Federal Reserve can influence real income by controlling the level of intermediated loans. We apply a new method to test for an operative bank lending channel in the transmission mechanism of monetary policy. Combining an error correction model with directed acyclic graphs, we explore the existence of a bank lending channel and the effectiveness of U.S. monetary policy since 1960. This paper shows when an operative bank lending channel existed, explains its impact, and evaluates other channels of monetary policy.

这意味着美联储可以通过控制中间贷款的水平来影响实际收入。本文采用一种新的方法对银行贷款渠道在货币政策传导机制中的有效性进行了检验。结合有向无环图的误差修正模型，我们探讨了银行贷款渠道的存在以及自1960年以来美国货币政策的有效性。本文说明了一个有效的银行贷款渠道的存在，解释了它的影响，并评价了其他货币政策渠道。