Interest Rate Pass-Through in Romania and Other Central European Economies

November 1, 2004

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Alexander F. Tieman Interest Rate Pass-Through in Romania and Other Central European Economies, (USA: International Monetary Fund, 2004) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Interest rate pass-through from policy interest rates to market rates and inflation has been hypothesized to play a lesser role in Romania than in other Central European transition economies. This paper tests this hypothesis and concludes that it cannot be supported by the data. Hence pass-through in Romania is concluded to be in line with that in comparable economies in the region. Moreover, the interest rate pass-through has become more pronounced over time.

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

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2004/211
Stock No:

WPIEA2112004
ISBN:

9781451874877
ISSN:

1018-5941

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