The Bank Lending Channel of Conventional and Unconventional Monetary Policy
利用银行贷款利率的银行层面数据，研究了欧元区常规和非常规货币政策措施通过信贷供给变化的传导机制，发现常规操作对较弱银行传导更强，而非常规措施则通过资本和资金状况更强的银行传导。
Abstract Using bank‐level information on lending rates, we study the transmission of conventional and unconventional monetary policy measures in the euro area via shifts in the supply of credit. For conventional operations, we find that the transmission is stronger for weaker banks, in line with the standard predictions of the bank‐lending channel literature. For nonstandard measures, instead, the monetary accommodation was transmitted more by banks with stronger capital and funding positions and characterized by a higher exposure to government bonds.