I examine the effect of bank loan supply shocks, using bank lending stance shocks derived from the industry-level Short-term Economic Survey of Enterprises (Tankan) survey data in Japan. The identified bank lending stance shocks enable us to investigate the effect of loan supply shocks on the...

This paper proposes a method for identifying quantitative and qualitative monetary policy shocks in the balance sheet operations of a central bank. The method is agnostic and flexible as it relies on no assumptions on how the size and composition of the central bank's balance sheet will respond...