| 000 | 02422nam a22003734a 4500 | ||
|---|---|---|---|
| 001 | WPIEA2015260 | ||
| 003 | IMF | ||
| 005 | 20190405190349.0 | ||
| 006 | m o d | ||
| 007 | cr cn||||||||| | ||
| 008 | 020129s2015 dcu o i00 0 eng d | ||
| 020 |
_a1513584391 : _c18.00 USD |
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| 020 | _z9781513584393 | ||
| 022 | _a1018-5941 | ||
| 024 | 7 |
_a10.5089/9781513584393.001 _2doi |
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| 035 | _a(IMF)WPIEA2015260 | ||
| 040 |
_aDcWaIMF _beng |
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| 100 | 1 | _aGrigoli, Francesco. | |
| 245 | 1 | 0 |
_aInterest Rate Pass-Through in the Dominican Republic _h[electronic resource] / _cFrancesco Grigoli. |
| 260 |
_aWashington, D.C. : _bInternational Monetary Fund, _c2015. |
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| 300 | _a1 online resource (28 p.) | ||
| 490 | 1 | _aIMF Working Papers | |
| 520 | 3 | _aA well-functioning monetary transmission mechanism is critical for monetary policy. As the Dominican Republic recently adopted an inflation targeting regime, it is even more relevant to guarantee that changes in the monetary policy rates are quickly and fully reflected in retail rates, to eventually influence aggregate demand and inflation. This paper estimates the interest rate pass-through of the monetary policy rate to retail rates and explores asymmetries in the adjustment. We find evidence of complete pass-through to retail rates, confirming the effectiveness of the monetary policy transmission mechanism. However, our results also suggest a faster pass-through to lending rates than to deposit rates and asymmetric adjustments of short-term rates, as deposit rates respond faster to policy rate cuts and lending rates respond faster to policy rate hikes. Measures to enhance competition in the financial system could help to achieve a symmetric adjustment of retail rates. | |
| 588 | _aDescription based on print version record. | ||
| 650 | 7 |
_aAsymmetric _2imf |
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| 650 | 7 |
_aInterest Rate _2imf |
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| 650 | 7 |
_aPass-Through _2imf |
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| 650 | 7 |
_aTransmission Mechanism _2imf |
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| 650 | 7 |
_aWestern Hemisphere _2imf |
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| 651 | 7 |
_aDominican Republic _2imf |
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| 776 | 0 | 8 |
_iPrint Version: _aGrigoli, Francesco. _tInterest Rate Pass-Through in the Dominican Republic. _dWashington, D.C. : International Monetary Fund, 2015. _z9781513584393 |
| 830 | 0 | _aIMF Working Papers | |
| 856 | 4 | 0 |
_uhttp://elibrary.imf.org/view/IMF001/22983-9781513584393/22983-9781513584393/22983-9781513584393.xml _zIMF e-Library |
| 856 | 4 | 0 |
_uhttp://www.imfbookstore.org/IMFORG/9781513584393 _zIMF Book Store |
| 999 |
_c161580 _d161580 |
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