Monetary Policy in India: Transmission to Bank Interest Rates
This paper provides new evidence on the credit channel of monetary policy transmission in India. Using stepwise estimation of vector error correction models, the analysis finds significant, albeit slow, pass-through of policy rate changes to bank interest rates in India. There is evidence of asymmet...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
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Schriftenreihe: | IMF Working Papers: Working Paper No. 15 / 129
|
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper provides new evidence on the credit channel of monetary policy transmission in India. Using stepwise estimation of vector error correction models, the analysis finds significant, albeit slow, pass-through of policy rate changes to bank interest rates in India. There is evidence of asymmetric adjustment to monetary policy: the lending rate adjusts more quickly to monetary tightening than to loosening. In addition, the speed of adjustment of deposit and lending rates to changes in the policy rate has increased in recent years |
Beschreibung: | 1 Online-Ressource (33 p) |
ISBN: | 1513598791 9781513598796 |
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index_date | 2024-07-03T20:13:37Z |
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spelling | Das, Sonali Verfasser aut Monetary Policy in India Transmission to Bank Interest Rates Das, Sonali Washington, D.C International Monetary Fund 2015 1 Online-Ressource (33 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 129 This paper provides new evidence on the credit channel of monetary policy transmission in India. Using stepwise estimation of vector error correction models, the analysis finds significant, albeit slow, pass-through of policy rate changes to bank interest rates in India. There is evidence of asymmetric adjustment to monetary policy: the lending rate adjusts more quickly to monetary tightening than to loosening. In addition, the speed of adjustment of deposit and lending rates to changes in the policy rate has increased in recent years Online-Ausg http://www.elibrary.imf.org/view/IMF001/22619-9781513598796/22619-9781513598796/22619-9781513598796.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Das, Sonali Monetary Policy in India Transmission to Bank Interest Rates |
title | Monetary Policy in India Transmission to Bank Interest Rates |
title_auth | Monetary Policy in India Transmission to Bank Interest Rates |
title_exact_search | Monetary Policy in India Transmission to Bank Interest Rates |
title_exact_search_txtP | Monetary Policy in India Transmission to Bank Interest Rates |
title_full | Monetary Policy in India Transmission to Bank Interest Rates Das, Sonali |
title_fullStr | Monetary Policy in India Transmission to Bank Interest Rates Das, Sonali |
title_full_unstemmed | Monetary Policy in India Transmission to Bank Interest Rates Das, Sonali |
title_short | Monetary Policy in India |
title_sort | monetary policy in india transmission to bank interest rates |
title_sub | Transmission to Bank Interest Rates |
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