Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions

Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions

eBook - 2013
Rate this:
"We employ a structural panel VAR model with interaction terms to identify determinants of effective transmission from central bank policy rates to retail lending rates in a large country sample. The framework allows deriving country specific pass-through estimates broken down into the contributions of structural country characteristics and policies. The findings suggest that industrial economies tend to enjoy a higher pass-through largely on account of their more flexible exchange rate regimes and their more developed financial systems. The average pass-through in our sample increased from 30 to 60 percent between 2003 and 2008, mainly due to positive risk sentiment, rising inflation and increasingly diversified banking sectors. The crisis reversed this trend partly as banks increased precautionary liquidity holdings, non-performing loans proliferated and inflation moderated"--Abstract.
Publisher: [Washington, D.C.] : International Monetary Fund, Ă2013
ISBN: 9781475596199
1475596197
Characteristics: 1 online resource (37 pages) : color illustrations

Opinion

From the critics


Community Activity

Comment

Add a Comment

There are no comments for this title yet.

Age Suitability

Add Age Suitability

There are no age suitabilities for this title yet.

Summary

Add a Summary

There are no summaries for this title yet.

Notices

Add Notices

There are no notices for this title yet.

Quotes

Add a Quote

There are no quotes for this title yet.

Explore Further

Recommendations

Subject Headings

  Loading...

Find it at SPL

  Loading...
[]
[]
To Top