Heterogeneous Loans and the Effect of Monetary Interventions

The amount of credit in the economy is a heterogeneous aggregate that can be analyzed across different dimensions. Considering such dimensions provides insights into effect monetary policy interventions because components are observed to respond differently. Several possible motivations behind differential response and those relate either demand supply factors intrinsic transmission mechanism policy. Our objective unveil couple relevant discuss causes what observed. analysis refers US based on vector auto-regression estimated using Bayesian techniques identified with combination sign zero-restrictions.