Bank interest rate pass-through in the eurozone : monetary policy transmission during the boom and since the financial crash

Content Provider	Semantic Scholar
Author	Blot, Christophe Labondance, Fabien
Copyright Year	2010
Abstract	The aim of this paper is to understand how the financial crisis has affected the interest rate pass-through in the eurozone between market rates and bank interest rates. We applied a SUR-ECM model. This methodology allows testing for the homogeneity of the pass-through of the euro area countries. The main results of this investigation are the following. First, not surprisingly, we show that the financial turmoil since august 2007 has affected drastically the interest rate passe-through in the eurozone. Second, the pass-through since the crisis is less complete that in the previous period studied. Third, the heterogeneity between the eurozone members has increased.
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://macro.soc.uoc.gr/docs/Year/2011/papers/paper_4_126.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article