. Applying a VAR model, we estimate the response of bank loans to a monetary policy shock taking into account the reaction of the … output level and the loan rate. We estimate our model to evaluate the response of bank loans by matching the theoretical … impulse responses with the empirical impulse responses to a monetary policy shock. Evidence in support of the credit channel …

. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock taking … into account the reaction of the output level and the loan rate. We estimate our model to characterize the response of bank … loans by matching the theoretical impulse responses with the empirical impulse responses to a monetary policy shock …

. Applying a vector error correction model (VECM),we estimate the response of bank loans after a monetary policy shock in … consideration of the reaction of the output level and the loan rate. Weestimate our model to characterize the response of bank loans … by matching the theoretical impulse responses with the empirical impulse responses toa monetary policy shock. Evidence in …

. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock taking … into account the reaction of the output level and the loan rate. We estimate our model to characterize the response of bank … loans by matching the theoretical impulse responses with the empirical impulse responses to a monetary policy shock …

. Applying a VAR model, we estimate the response of bank loans to a monetary policy shock taking into account the reaction of the … output level and the loan rate. We estimate our model to evaluate the response of bank loans by matching the theoretical … impulse responses with the empirical impulse responses to a monetary policy shock. Evidence in support of the credit channel …

. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock taking … into account the reaction of the output level and the loan rate. We estimate our model to characterize the response of bank … loans by matching the theoretical impulse responses with the empirical impulse responses to a monetary policy shock …