""Contents""; ""I. INTRODUCTION ""; ""II. THE MODEL""; ""III. THE DATA""; ""IV. RESULTS ON OUTSTANDING LOAN RATES: EQUILIBRIUM EQUATION AND BASIC ECM""; ""V. RESULTS ON DEPOSIT, NEWLY ISSUED LOAN RATES, AND PANEL ESTIMATIONS ""; ""VI. RESULTS: TIME CONSISTENCY""; ""VII. CONCLUSIONS ""; ""REFERENCES""; ""APPENDIX: ESTIMATION TABLES""
Summary
Interest rate pass-through from policy interest rates to market rates and inflation has been hypothesized to play a lesser role in Romania than in other Central European transition economies. This paper tests this hypothesis and concludes that it cannot be supported by the data. Hence pass-through in Romania is concluded to be in line with that in comparable economies in the region. Moreover, the interest rate pass-through has become more pronounced over time
Notes
"December 2004."
Bibliography
Includes bibliographical references (pages 11-12)
Notes
At head of title: European Department
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