Interest Rate Pass-Through in Romania and Other Central European Economies
20 Pages Posted: 9 Feb 2006
Date Written: November 2004
Abstract
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.
Keywords: Monetary policy transmission, Interest rate, Romania, Central European Economies
JEL Classification: E50, E52, E43, P24
Suggested Citation: Suggested Citation
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