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Interest Rate Pass-Through in New EU Member States: The Case of the Czech Republic, Hungary and Poland

dc.contributor.authorCrespo-Cuaresma, Jesúsen_US
dc.contributor.authorÉgert, Balázsen_US
dc.contributor.authorReininger, Thomasen_US
dc.date.accessioned2006-08-01T15:41:11Z
dc.date.available2006-08-01T15:41:11Z
dc.date.issued2004-05-01en_US
dc.identifier.otherRePEc:wdi:papers:2004-671en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/40057en_US
dc.description.abstractThe characteristics of the interest rate pass-through in the Czech Republic, Hungary and Poland are studied making use of autoregressive distributed lags (ARDL) models. Significant differences are found across market interest rates and countries concerning long-run elasticities of market interest rates to changes in the key policy rate. While the null hypothesis of complete pass-through cannot be rejected for any interest rate in Poland, deviations from complete pass-through are present for several interest rates in the Czech Republic and Hungary. Except for the case of the short-term loan rate for enterprises in Hungary, no significant deviation from symmetry in the speed of adjustment to equilibrium is found in the data.en_US
dc.format.extent51979 bytes
dc.format.extent3151 bytes
dc.format.extent557395 bytes
dc.format.mimetypetext/plain
dc.format.mimetypetext/plain
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.relation.ispartofseries671en_US
dc.subjectInterest Rates, Pass-Through, Monetary Transmission Mechanism, ARDL Models, Transition, Accession, Acceding Countriesen_US
dc.subject.otherE43, E50, E52, C22, G21, O52en_US
dc.titleInterest Rate Pass-Through in New EU Member States: The Case of the Czech Republic, Hungary and Polanden_US
dc.typeWorking Paperen_US
dc.subject.hlbsecondlevelEconomicsen_US
dc.subject.hlbtoplevelBusinessen_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/40057/3/wp671.pdfen_US
dc.owningcollnameWilliam Davidson Institute (WDI) - Working Papers


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