作者: Oliver Hülsewig , Peter Winker , Andreas Worms
DOI: 10.2139/SSRN.304457
关键词:
摘要: This paper addresses the relevance of bank lending channel in transmission monetary policy Germany on basis a structural vector error correction model (VECM). In order to deal with fundamental problem identification we use restriction tests cointegration vectors identify long-run supply and demand relationships market for loans. We find empirical evidence that is consistent Germany. To our knowledge, this analysis first study looks at German loan context by applying such approach aggregate data.