The bank lending channel of monetary policy: identification and estimation using Portuguese micro bank data



θ8=ρ2δ1=


α 2λ3β3Y1

(λ3 - α3 Xβ3 - γ3)


(A1.21)


θ9=ρ2δ0=


α 2λ3(γ 0β3 β γ 3)
(λ3- α 3)(β3- γ 3)


(A1.22)


42




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