Pass-through of Large Changes in Monetary Policy Rate – Evidence for Chile

Juan Becerra, Luis Ceballos, Julio Cordova () and Michael Pedersen

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: We examine consumption and commercial lending rates evolution, identifying the main determinants of their movements. Our objective is to distinguish effects related to monetary policy rate from those due to higher risk; this is done through counterfactual simulations around relevant variables. Results indicate that monetary policy rate cuts have compensated the lending rate increase caused by higher uncertainty, both domestic and external.

Date: 2009-08
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.bcentral.cl/documents/33528/133326/DTBC_522.pdf (application/pdf)

Related works:
Journal Article: Market Interest Rate Dynamics in Times of Financial Turmoil (2010)
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:chb:bcchwp:522

Access Statistics for this paper

More papers in Working Papers Central Bank of Chile from Central Bank of Chile Contact information at EDIRC.
Bibliographic data for series maintained by Alvaro Castillo ().