Coverart for item
The Resource Interest Rate Pass-Through in the Dominican Republic, Francesco Grigoli

Interest Rate Pass-Through in the Dominican Republic, Francesco Grigoli

Label
Interest Rate Pass-Through in the Dominican Republic
Title
Interest Rate Pass-Through in the Dominican Republic
Statement of responsibility
Francesco Grigoli
Creator
Author
Subject
Genre
Language
eng
Summary
A 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
Member of
Cataloging source
DcWaIMF
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Grigoli, Francesco
Government publication
international or intergovernmental publication
LC call number
K4452.I57
LC item number
G754 2015 ONLINE
Literary form
non fiction
Nature of contents
dictionaries
Series statement
IMF Working Paper
http://library.link/vocab/subjectName
  • Asymmetric
  • Interest Rate
  • Pass-Through
  • Transmission Mechanism
  • Western Hemisphere
  • Dominican Republic
Label
Interest Rate Pass-Through in the Dominican Republic, Francesco Grigoli
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
imfWPIEA2015260
Dimensions
unknown
Extent
1 online resource (28 pages)
Form of item
online
Isbn
9781513584393
Issn
1018-5941
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781513584393.001
Specific material designation
remote
System control number
(IMF)WPIEA2015260
Label
Interest Rate Pass-Through in the Dominican Republic, Francesco Grigoli
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
imfWPIEA2015260
Dimensions
unknown
Extent
1 online resource (28 pages)
Form of item
online
Isbn
9781513584393
Issn
1018-5941
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781513584393.001
Specific material designation
remote
System control number
(IMF)WPIEA2015260

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