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Cover Art
E-RESOURCE
Author Rebucci, Alessandro.

Title Retail Bank Interest Rate Pass-Through [electronic resource] : Is Chile Atypical? / Alessandro Rebucci.

Published Washington, D.C. : International Monetary Fund, 2003.

Copies

Location Call No. Status
 UniM INTERNET resource    AVAILABLE
Physical description 1 online resource (35 p.)
Series IMF Working Papers; Working Paper ; No. 03/112
IMF Working Papers; Working Paper ; No. 03/112
Summary This paper investigates empirically the pass-through of money market interest rates to retail banking interest rates in Chile, the United States, Canada, Australia, New Zealand, and five European countries. Overall, Chile's pass-through does not appear atypical. Based on a standard error-correction model, we find that, as in most countries considered, Chile's measured pass-through is incomplete. But Chile's pass-through is also faster than in many other countries considered and is comparable to that in the United States. While we find no significant evidence of asymmetry in Chile's pass-through across states of the interest rate or monetary policy cycle, we do find some evidence of parameter instability, around the time of the Asian and Russian crises. However, we do not find evidence that the switch to a more flexible exchange rate regime in 1999 and the "nominalization" of Chile's interest rate targets in 2001 have affected significantly the pass-through process.
Notes Description based on print version record.
Other author Espinosa-Vega, Marco A.
Rebucci, Alessandro.
Subject Banking
Central Bank
Deposit Rates
Interest Rates
Money Market Rate
Money Market
ISBN 1451853629 : 15.00 USD
9781451853629
ISSN 1018-5941
Standard Number 10.5089/9781451853629.001