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

Alexander Tieman

No 2004/211, IMF Working Papers from International Monetary Fund

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: WP; interest rate; rate; pass-through; market; Monetary policy transmission; Romania; Central European Economies; interest rate pass-through; market rate; market loan rate; pass-through in Romania; interest rate instrument; Slovak coefficient; interest rate channel; Central bank policy rate; Loans; Deposit rates; Market interest rates; Commercial banks; Central and Eastern Europe; Baltics (search for similar items in EconPapers)
Pages: 20
Date: 2004-11-01
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Citations: View citations in EconPapers (34)

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