• Business
  • Published 2001

Bank lending rate pass-through and differences in the transmission of a single EMU monetary policy

@inproceedings{Donnay2001BankLR,
  title={Bank lending rate pass-through and differences in the transmission of a single EMU monetary policy},
  author={Marie Donnay and Hans Degryse},
  year={2001}
}
The pass-through from the money market rate to several bank lending rates and the government bond rate is investigated for 12 European countries over the period 1980-2000, by applying a SVAR based on the Cholesky decomposition. Simulations of a one percent point rise in the money market rate, performed for all countries, reveal divergences within and between countries in the dynamics of the lending rate pass-through. Subsequently, this pass-through is introduced in an enlarged SVAR model to… CONTINUE READING

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