Determinants of Interest Rate Pass-Through

Released on by Nikoloz Gigineishvili
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  • Determinants of Interest Rate Pass-Through Book Detail

  • Author : Nikoloz Gigineishvili
  • Release Date : 2011-07-01
  • Publisher :
  • Genre :
  • Pages : 25
  • ISBN 13 : 9781462312313
  • File Size : 48,48 MB
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Determinants of Interest Rate Pass-Through by Nikoloz Gigineishvili PDF Summary

Book Description: Numerous empirical studies have found that the strength of the interest rate pass-through varies markedly across countries and markets. The causes of such heterogeneity have attracted considerably less attention so far. Unlike other studies that mainly focus on small groups of mostly developed and emerging markets in the same region, this paper expands the cross-sectional coverage to 70 countries from all regions, including low income, emerging and developed countries. It uses a wide range of macroeconomic and financial market structure variables to uncover structural determinants of pass-through. The paper finds that per capita GDP and inflation have positive effects on pass-through, while market volatility has a negative effect. Among financial market variables exchange rate flexibility, credit quality, overhead costs, and banking competition were found to strengthen pass-through, whereas excess banking liquidity to impede it.

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Determinants of Interest Rate Pass-Through

Determinants of Interest Rate Pass-Through

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Numerous empirical studies have found that the strength of the interest rate pass-through varies markedly across countries and markets. The causes of such heter

Negative Interest Rate Policy (NIRP)

Negative Interest Rate Policy (NIRP)

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More than two years ago the European Central Bank (ECB) adopted a negative interest rate policy (NIRP) to achieve its price stability objective. Negative intere