Interest Rate Pass-Through in Romania and Other Central European Economies
IMF Working Papers, November 1, 2004
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- Interest Rate Pass-Through in Romania and Other Central European Economies
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Bibliographic details
- Authors: Alexander F. Tieman
- Published: November 1, 2004
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451874877.001
Summary and Main Findings
- The hypothesis that interest rate pass-through from policy interest rates to market rates and inflation plays a lesser role in Romania than in other Central European transition economies is tested and cannot be supported by the data.
- Pass-through in Romania is concluded to be in line with that in comparable economies in the region.
- The interest rate pass-through has become more pronounced over time.
Analytical Focus and Themes
- Interest rate pass-through from policy interest rates to:
- market rates
- inflation
- Comparison across Central European transition economies, with emphasis on Romania.
- Examination of the evolution of pass-through over time.
Subject Areas and Keywords (as listed)
- Subject: Banking, Central bank policy rate, Commercial banks, Deposit rates, Financial institutions, Financial services, Loans, Market interest rates
- Keywords: Baltics, Central and Eastern Europe, Central bank policy rate, Central European Economies, Commercial banks, Deposit rates, interest rate, interest rate channel, interest rate instrument, interest rate pass-through, Loans, market, Market interest rates, market loan rate, market rate, Monetary policy transmission, pass-through, pass-through in Romania, rate, Romania, Slovak coefficient, WP