Détermination du pass-through du taux monétaire sur le taux des crédits: le comportement de la banque centrale importe-t-il ?

Vincent Bouvatier

Revue économique, 2018, vol. 69, issue 4, 615-634

Abstract: This paper investigates the pass-through from the money market rate to the bank lending rate. More precisely, the paper analyzes whether the central bank behavior, represented by a Taylor rule, matters in the determination of the pass-through. The paper relies on a partial equilibrium model, calibrated for the euro area. The results show that gradualism in monetary policy, and more generally factors that smooth the money market rate, positively affect the degree of pass-through. In addition, gradualism in monetary policy contributes relatively more to the determination of the pass-through when stickiness of lending rate is higher.

Keywords: pass-through; lending interest rate; monetary policy rule (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_PR2_0123 (application/pdf)
http://www.cairn.info/revue-economique-2018-4-page-615.htm (text/html)
free

Related works:
Working Paper: Détermination du pass-through du taux monétaire sur le taux des crédits: le comportement de la banque centrale importe-t-il ? (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:recosp:reco_pr2_0123

Access Statistics for this article

More articles in Revue économique from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().