Regional interest rate pass-through in Italy
| Autor: | Montagnoli, Alberto, Napolitano, Oreste, Siliverstovs, Boriss |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2012 |
| Předmět: |
Geldpolitik
BANKEN + BANKWESEN Economics ZINSSATZ monetary policy Italien error correction model Monetary policy E50 0502 economics and business ddc:330 GELDPOLITIK 050207 economics 050208 finance Error correction model Interest rates pass-through 05 social sciences BANKS + BANKING ITALY (SOUTH EUROPE). REPUBLIC OF ITALY R11 Geldpolitische Transmission ITALIEN (SÜDEUROPA). REPUBLIK ITALIEN MONETARY POLICY INTEREST RATE Fehlerkorrekturmodell E43 Schätzung |
| Zdroj: | KOF Working Papers, 308 |
| DOI: | 10.3929/ethz-a-007349785 |
| Popis: | This paper estimates the pass-through and speed of adjustment of Italian regional interest rates to changes in the money market rate for the period 1998Q1-2009Q4. Our main findings suggest that the markup for the lending rates that banks charge are generally higher in the South than in the North. Moreover, our results indicate that the pass-through tends to be longer in Southern regions. We find little evidence supporting the hypothesis of asymmetric adjustment in the lending rates, but detect some evidence supporting upward rigidity in the regional deposit rates. KOF Working Papers, 308 |
| Databáze: | OpenAIRE |
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