Interest Rate Pass-Through: A Meta-Analysis of the Literature
The interest rate pass-through describes how changes in a reference rate (the monetary policy, money market, or T-bill rate) transmit to bank lending rates. This paper reviews the empirical literature on the interest rate pass-through and systematizes it by means of meta-analysis and meta-regression...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2019
|
| Schriftenreihe: | World Bank E-Library Archive
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | The interest rate pass-through describes how changes in a reference rate (the monetary policy, money market, or T-bill rate) transmit to bank lending rates. This paper reviews the empirical literature on the interest rate pass-through and systematizes it by means of meta-analysis and meta-regressions. The paper finds systematically lower estimated pass-through coefficients in studies that focus on transmission to long-term lending rates, consumer lending rates, and average lending rates. The interest rate pass-through is significantly influenced by country macro-financial and institutional factors. The estimated pass-through tends to be stronger for economies with deeper capital markets (measured by market capitalization). Interestingly, central bank independence rising from lower levels can reduce interest rate pass-through, while central bank independence rising from already high levels can boost the pass-through |
| Beschreibung: | 1 Online-Ressource (53 Seiten) |
| DOI: | 10.1596/1813-9450-8713 |
Internformat
MARC
| LEADER | 00000nmm a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV048274183 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220609s2019 |||| o||u| ||||||eng d | ||
| 024 | 7 | |a 10.1596/1813-9450-8713 |2 doi | |
| 035 | |a (ZDB-1-WBA)NLM011151056 | ||
| 035 | |a (OCoLC)1334059510 | ||
| 035 | |a (DE-599)GBVNLM011151056 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-12 |a DE-521 |a DE-573 |a DE-523 |a DE-Re13 |a DE-19 |a DE-355 |a DE-703 |a DE-91 |a DE-706 |a DE-29 |a DE-M347 |a DE-473 |a DE-824 |a DE-20 |a DE-739 |a DE-1043 |a DE-863 |a DE-862 | ||
| 100 | 1 | |a Gregora, Jiri |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Interest Rate Pass-Through |b A Meta-Analysis of the Literature |c Gregora, Jiri |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 2019 | |
| 300 | |a 1 Online-Ressource (53 Seiten) | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a World Bank E-Library Archive | |
| 520 | |a The interest rate pass-through describes how changes in a reference rate (the monetary policy, money market, or T-bill rate) transmit to bank lending rates. This paper reviews the empirical literature on the interest rate pass-through and systematizes it by means of meta-analysis and meta-regressions. The paper finds systematically lower estimated pass-through coefficients in studies that focus on transmission to long-term lending rates, consumer lending rates, and average lending rates. The interest rate pass-through is significantly influenced by country macro-financial and institutional factors. The estimated pass-through tends to be stronger for economies with deeper capital markets (measured by market capitalization). Interestingly, central bank independence rising from lower levels can reduce interest rate pass-through, while central bank independence rising from already high levels can boost the pass-through | ||
| 700 | 1 | |a Gregora, Jiri |4 oth | |
| 700 | 1 | |a Melecky, Ales |4 oth | |
| 700 | 1 | |a Melecky, Martin |4 oth | |
| 776 | 0 | 8 | |i Erscheint auch als |n Druck-Ausgabe |a Gregora, Jiri |t Interest Rate Pass-Through: A Meta-Analysis of the Literature |d Washington, D.C : The World Bank, 2019 |
| 856 | 4 | 0 | |u https://doi.org/10.1596/1813-9450-8713 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-1-WBA | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033654378 | |
Datensatz im Suchindex
| _version_ | 1812671823592030208 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Gregora, Jiri |
| author_facet | Gregora, Jiri |
| author_role | aut |
| author_sort | Gregora, Jiri |
| author_variant | j g jg |
| building | Verbundindex |
| bvnumber | BV048274183 |
| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)NLM011151056 (OCoLC)1334059510 (DE-599)GBVNLM011151056 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1596/1813-9450-8713 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nmm a2200000zc 4500</leader><controlfield tag="001">BV048274183</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220609s2019 |||| o||u| ||||||eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1596/1813-9450-8713</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-WBA)NLM011151056</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1334059510</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBVNLM011151056</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-523</subfield><subfield code="a">DE-Re13</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-703</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-706</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-M347</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-1043</subfield><subfield code="a">DE-863</subfield><subfield code="a">DE-862</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Gregora, Jiri</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Interest Rate Pass-Through</subfield><subfield code="b">A Meta-Analysis of the Literature</subfield><subfield code="c">Gregora, Jiri</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Washington, D.C</subfield><subfield code="b">The World Bank</subfield><subfield code="c">2019</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (53 Seiten)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">World Bank E-Library Archive</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">The interest rate pass-through describes how changes in a reference rate (the monetary policy, money market, or T-bill rate) transmit to bank lending rates. This paper reviews the empirical literature on the interest rate pass-through and systematizes it by means of meta-analysis and meta-regressions. The paper finds systematically lower estimated pass-through coefficients in studies that focus on transmission to long-term lending rates, consumer lending rates, and average lending rates. The interest rate pass-through is significantly influenced by country macro-financial and institutional factors. The estimated pass-through tends to be stronger for economies with deeper capital markets (measured by market capitalization). Interestingly, central bank independence rising from lower levels can reduce interest rate pass-through, while central bank independence rising from already high levels can boost the pass-through</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Gregora, Jiri</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Melecky, Ales</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Melecky, Martin</subfield><subfield code="4">oth</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Druck-Ausgabe</subfield><subfield code="a">Gregora, Jiri</subfield><subfield code="t">Interest Rate Pass-Through: A Meta-Analysis of the Literature</subfield><subfield code="d">Washington, D.C : The World Bank, 2019</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1596/1813-9450-8713</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-WBA</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033654378</subfield></datafield></record></collection> |
| id | DE-604.BV048274183 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:00:10Z |
| indexdate | 2024-10-12T04:02:42Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033654378 |
| oclc_num | 1334059510 |
| open_access_boolean | 1 |
| owner | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| owner_facet | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| physical | 1 Online-Ressource (53 Seiten) |
| psigel | ZDB-1-WBA |
| publishDate | 2019 |
| publishDateSearch | 2019 |
| publishDateSort | 2019 |
| publisher | The World Bank |
| record_format | marc |
| series2 | World Bank E-Library Archive |
| spellingShingle | Gregora, Jiri Interest Rate Pass-Through A Meta-Analysis of the Literature |
| title | Interest Rate Pass-Through A Meta-Analysis of the Literature |
| title_auth | Interest Rate Pass-Through A Meta-Analysis of the Literature |
| title_exact_search | Interest Rate Pass-Through A Meta-Analysis of the Literature |
| title_exact_search_txtP | Interest Rate Pass-Through A Meta-Analysis of the Literature |
| title_full | Interest Rate Pass-Through A Meta-Analysis of the Literature Gregora, Jiri |
| title_fullStr | Interest Rate Pass-Through A Meta-Analysis of the Literature Gregora, Jiri |
| title_full_unstemmed | Interest Rate Pass-Through A Meta-Analysis of the Literature Gregora, Jiri |
| title_short | Interest Rate Pass-Through |
| title_sort | interest rate pass through a meta analysis of the literature |
| title_sub | A Meta-Analysis of the Literature |
| url | https://doi.org/10.1596/1813-9450-8713 |
| work_keys_str_mv | AT gregorajiri interestratepassthroughametaanalysisoftheliterature AT meleckyales interestratepassthroughametaanalysisoftheliterature AT meleckymartin interestratepassthroughametaanalysisoftheliterature |