Coverart for item
The Resource Interest rate pass-through in the Dominican Republic, prepared by Francesco Grigoli and José M. Mota

Interest rate pass-through in the Dominican Republic, prepared by Francesco Grigoli and José M. Mota

Label
Interest rate pass-through in the Dominican Republic
Title
Interest rate pass-through in the Dominican Republic
Statement of responsibility
prepared by Francesco Grigoli and José M. Mota
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
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. --Abstract
Member of
Cataloging source
DJB
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Grigoli, Francesco
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 No. 15/260 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Mota, José M.
  • International Monetary Fund
Series statement
IMF Working Paper,
Series volume
WP/15/260
http://library.link/vocab/subjectName
  • Interest rates
  • Monetary policy
  • Transmission mechanism (Monetary policy)
  • Interest rates
  • Monetary policy
  • Transmission mechanism (Monetary policy)
  • Dominican Republic
Label
Interest rate pass-through in the Dominican Republic, prepared by Francesco Grigoli and José M. Mota
Instantiates
Publication
Copyright
Note
  • "December 2015."
  • "Western Hemisphere Department."
Bibliography note
Includes bibliographical references (pages 26-28)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; Abstract; I. Introduction; II. The Pass-Through in the Dominican Republic; A. Theoretical Contributions; B. Characteristics of the Dominican Financial System and Empirical Evidence; III. Empirical Strategy; IV. Results; A. Baseline; B. Asymmetries; C. Simulation; V. Conclusions; Tables; 1. Literature for the Dominican Republic; 2. ECM Estimation for Retail Rates; 3. ADL Model Estimation for Government Bonds; 4. Asymmetric M-TAR ECM Estimation for Retail Rates; A1. Unit Root, ADF Test; A2. Cointegration, Engle-Granger Test
  • A3. Cointegration, TAR and M-TAR Tests with Threshold Set to ZeroA4. Cointegration, TAR and M-TAR Tests with Endogenously Determined Threshold; Figures; 1. Monetary Policy and Retail Rates; 2. Banks' Margins; 3. Timing of One-Percentage Point Change in the Monetary Policy Rate; References
Control code
933302195
Extent
1 online resource (28 pages)
Form of item
online
Isbn
9781513584393
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781513584393.001
Other physical details
color illustrations
Specific material designation
remote
System control number
  • imfWPIEA2015260
  • (IMF)WPIEA2015260
  • (OCoLC)933302195
Label
Interest rate pass-through in the Dominican Republic, prepared by Francesco Grigoli and José M. Mota
Publication
Copyright
Note
  • "December 2015."
  • "Western Hemisphere Department."
Bibliography note
Includes bibliographical references (pages 26-28)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; Abstract; I. Introduction; II. The Pass-Through in the Dominican Republic; A. Theoretical Contributions; B. Characteristics of the Dominican Financial System and Empirical Evidence; III. Empirical Strategy; IV. Results; A. Baseline; B. Asymmetries; C. Simulation; V. Conclusions; Tables; 1. Literature for the Dominican Republic; 2. ECM Estimation for Retail Rates; 3. ADL Model Estimation for Government Bonds; 4. Asymmetric M-TAR ECM Estimation for Retail Rates; A1. Unit Root, ADF Test; A2. Cointegration, Engle-Granger Test
  • A3. Cointegration, TAR and M-TAR Tests with Threshold Set to ZeroA4. Cointegration, TAR and M-TAR Tests with Endogenously Determined Threshold; Figures; 1. Monetary Policy and Retail Rates; 2. Banks' Margins; 3. Timing of One-Percentage Point Change in the Monetary Policy Rate; References
Control code
933302195
Extent
1 online resource (28 pages)
Form of item
online
Isbn
9781513584393
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781513584393.001
Other physical details
color illustrations
Specific material designation
remote
System control number
  • imfWPIEA2015260
  • (IMF)WPIEA2015260
  • (OCoLC)933302195

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