Hirakata, Naohisa; Hogen, Yoshihiko; Sudo, Nao; Ueda, Kozo - Federal Reserve Bank of Dallas - 2013
In this paper, we study bank loan responses to monetary policy and bank capital shocks using Japan’s disaggregated data sorted by borrower firms’ size and industry. Employing a block recursive VAR, we demonstrate that bank loan responses exhibit large sectoral heterogeneity. Among a broad...