Busch, Ulrike; Scharnagl, Michael; Scheithauer, Jan - 2010
impulse response functions in order to enquire the role of loan supply and monetary policy shocks for the dynamics of loans to … shocks, while monetary policy was essentially neutral. Nevertheless, the historical decomposition shows a cumulated negative … impact of loan supply shocks and monetary policy shocks on loans to non-financial corporations, due to the lagged effects of …