The pass-through of the monetary policy rate into lending rates in Mexico:
This paper estimates the pass-through of monetary policy rates into five lending rates in Mexico using auto regressive distributed lags models (ARDLs) and taking into account several financial market characteristics. Results show that the pass-through of monetary policy into the average short-term l...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2022
|
| Series: | OECD Economics Department Working Papers
no.1734 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | This paper estimates the pass-through of monetary policy rates into five lending rates in Mexico using auto regressive distributed lags models (ARDLs) and taking into account several financial market characteristics. Results show that the pass-through of monetary policy into the average short-term lending rate is full and fast, as it takes around 3 months to be fully transmitted. However, the pass-through is heterogeneous across credit markets, being especially weak in the mortgage and automotive credit markets. A higher market concentration in the credit sector is associated with a higher level of the corresponding lending rate. Other financial market characteristics, such as the measure of bank profitability and the ratio of capital to bank assets, are also found to affect the long-run level of one or more lending rates. Higher competition in credit markets and reducing asymmetric information would improve the transmission of monetary policy and contribute to reduce the level of lending rates. |
| Physical Description: | 1 Online-Ressource (35 Seiten) 21 x 28cm. |
Staff View
MARC
| LEADER | 00000cam a22000002 4500 | ||
|---|---|---|---|
| 001 | ZDB-13-SOC-084083751 | ||
| 003 | DE-627-1 | ||
| 005 | 20241028114047.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 230130s2022 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1787/acf23bc6-en |2 doi | |
| 035 | |a (DE-627-1)084083751 | ||
| 035 | |a (DE-599)KEP084083751 | ||
| 035 | |a (FR-PaOEC)acf23bc6-en | ||
| 035 | |a (DE-627-1)084083751 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a G21 |2 jelc | ||
| 084 | |a E52 |2 jelc | ||
| 084 | |a E4 |2 jelc | ||
| 100 | 1 | |a Maravalle, Alessandro |e VerfasserIn |4 aut | |
| 245 | 1 | 4 | |a The pass-through of the monetary policy rate into lending rates in Mexico |c Alessandro, Maravalle and Alberto, González Pandiella |
| 264 | 1 | |a Paris |b OECD Publishing |c 2022 | |
| 300 | |a 1 Online-Ressource (35 Seiten) |c 21 x 28cm. | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers |v no.1734 | |
| 520 | |a This paper estimates the pass-through of monetary policy rates into five lending rates in Mexico using auto regressive distributed lags models (ARDLs) and taking into account several financial market characteristics. Results show that the pass-through of monetary policy into the average short-term lending rate is full and fast, as it takes around 3 months to be fully transmitted. However, the pass-through is heterogeneous across credit markets, being especially weak in the mortgage and automotive credit markets. A higher market concentration in the credit sector is associated with a higher level of the corresponding lending rate. Other financial market characteristics, such as the measure of bank profitability and the ratio of capital to bank assets, are also found to affect the long-run level of one or more lending rates. Higher competition in credit markets and reducing asymmetric information would improve the transmission of monetary policy and contribute to reduce the level of lending rates. | ||
| 650 | 4 | |a Economics | |
| 650 | 4 | |a Mexico | |
| 700 | 1 | |a González Pandiella, Alberto |e MitwirkendeR |4 ctb | |
| 966 | 4 | 0 | |l DE-862 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/acf23bc6-en |m X:OECD |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 966 | 4 | 0 | |l DE-863 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/acf23bc6-en |m X:OECD |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 912 | |a ZDB-13-SOC-ebook | ||
| 912 | |a ZDB-13-SOC | ||
| 951 | |a BO | ||
| 912 | |a ZDB-13-SOC | ||
| 049 | |a DE-862 | ||
| 049 | |a DE-863 | ||
Record in the Search Index
| DE-BY-FWS_katkey | ZDB-13-SOC-084083751 |
|---|---|
| _version_ | 1826942509177110528 |
| adam_text | |
| any_adam_object | |
| author | Maravalle, Alessandro |
| author2 | González Pandiella, Alberto |
| author2_role | ctb |
| author2_variant | p a g pa pag |
| author_facet | Maravalle, Alessandro González Pandiella, Alberto |
| author_role | aut |
| author_sort | Maravalle, Alessandro |
| author_variant | a m am |
| building | Verbundindex |
| bvnumber | localFWS |
| collection | ZDB-13-SOC-ebook ZDB-13-SOC |
| ctrlnum | (DE-627-1)084083751 (DE-599)KEP084083751 (FR-PaOEC)acf23bc6-en |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02323cam a22003972 4500</leader><controlfield tag="001">ZDB-13-SOC-084083751</controlfield><controlfield tag="003">DE-627-1</controlfield><controlfield tag="005">20241028114047.0</controlfield><controlfield tag="007">cr uuu---uuuuu</controlfield><controlfield tag="008">230130s2022 xx |||||o 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/acf23bc6-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)084083751</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP084083751</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(FR-PaOEC)acf23bc6-en</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)084083751</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">G21</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E52</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E4</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Maravalle, Alessandro</subfield><subfield code="e">VerfasserIn</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="4"><subfield code="a">The pass-through of the monetary policy rate into lending rates in Mexico</subfield><subfield code="c">Alessandro, Maravalle and Alberto, González Pandiella</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2022</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (35 Seiten)</subfield><subfield code="c">21 x 28cm.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">Computermedien</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Online-Ressource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield><subfield code="v">no.1734</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This paper estimates the pass-through of monetary policy rates into five lending rates in Mexico using auto regressive distributed lags models (ARDLs) and taking into account several financial market characteristics. Results show that the pass-through of monetary policy into the average short-term lending rate is full and fast, as it takes around 3 months to be fully transmitted. However, the pass-through is heterogeneous across credit markets, being especially weak in the mortgage and automotive credit markets. A higher market concentration in the credit sector is associated with a higher level of the corresponding lending rate. Other financial market characteristics, such as the measure of bank profitability and the ratio of capital to bank assets, are also found to affect the long-run level of one or more lending rates. Higher competition in credit markets and reducing asymmetric information would improve the transmission of monetary policy and contribute to reduce the level of lending rates.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Mexico</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">González Pandiella, Alberto</subfield><subfield code="e">MitwirkendeR</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="966" ind1="4" ind2="0"><subfield code="l">DE-862</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/acf23bc6-en</subfield><subfield code="m">X:OECD</subfield><subfield code="x">Resolving-System</subfield><subfield code="z">lizenzpflichtig</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="4" ind2="0"><subfield code="l">DE-863</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/acf23bc6-en</subfield><subfield code="m">X:OECD</subfield><subfield code="x">Resolving-System</subfield><subfield code="z">lizenzpflichtig</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC-ebook</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">BO</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-862</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-13-SOC-084083751 |
| illustrated | Not Illustrated |
| indexdate | 2025-03-18T14:29:08Z |
| institution | BVB |
| language | English |
| open_access_boolean | |
| owner | DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| owner_facet | DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| physical | 1 Online-Ressource (35 Seiten) 21 x 28cm. |
| psigel | ZDB-13-SOC FWS_PDA_SOC ZDB-13-SOC-ebook ZDB-13-SOC |
| publishDate | 2022 |
| publishDateSearch | 2022 |
| publishDateSort | 2022 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Maravalle, Alessandro VerfasserIn aut The pass-through of the monetary policy rate into lending rates in Mexico Alessandro, Maravalle and Alberto, González Pandiella Paris OECD Publishing 2022 1 Online-Ressource (35 Seiten) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1734 This paper estimates the pass-through of monetary policy rates into five lending rates in Mexico using auto regressive distributed lags models (ARDLs) and taking into account several financial market characteristics. Results show that the pass-through of monetary policy into the average short-term lending rate is full and fast, as it takes around 3 months to be fully transmitted. However, the pass-through is heterogeneous across credit markets, being especially weak in the mortgage and automotive credit markets. A higher market concentration in the credit sector is associated with a higher level of the corresponding lending rate. Other financial market characteristics, such as the measure of bank profitability and the ratio of capital to bank assets, are also found to affect the long-run level of one or more lending rates. Higher competition in credit markets and reducing asymmetric information would improve the transmission of monetary policy and contribute to reduce the level of lending rates. Economics Mexico González Pandiella, Alberto MitwirkendeR ctb |
| spellingShingle | Maravalle, Alessandro The pass-through of the monetary policy rate into lending rates in Mexico Economics Mexico |
| title | The pass-through of the monetary policy rate into lending rates in Mexico |
| title_auth | The pass-through of the monetary policy rate into lending rates in Mexico |
| title_exact_search | The pass-through of the monetary policy rate into lending rates in Mexico |
| title_full | The pass-through of the monetary policy rate into lending rates in Mexico Alessandro, Maravalle and Alberto, González Pandiella |
| title_fullStr | The pass-through of the monetary policy rate into lending rates in Mexico Alessandro, Maravalle and Alberto, González Pandiella |
| title_full_unstemmed | The pass-through of the monetary policy rate into lending rates in Mexico Alessandro, Maravalle and Alberto, González Pandiella |
| title_short | The pass-through of the monetary policy rate into lending rates in Mexico |
| title_sort | pass through of the monetary policy rate into lending rates in mexico |
| topic | Economics Mexico |
| topic_facet | Economics Mexico |
| work_keys_str_mv | AT maravallealessandro thepassthroughofthemonetarypolicyrateintolendingratesinmexico AT gonzalezpandiellaalberto thepassthroughofthemonetarypolicyrateintolendingratesinmexico AT maravallealessandro passthroughofthemonetarypolicyrateintolendingratesinmexico AT gonzalezpandiellaalberto passthroughofthemonetarypolicyrateintolendingratesinmexico |