The Interactions between the Lending Rates, Deposit Rates and Money Market Rates
Publish place: Iranian Economic Review Journal، Vol: 23، Issue: 1
Publish Year: 1398
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_IER-23-1_009
تاریخ نمایه سازی: 21 مهر 1402
Abstract:
T he present paper investigates the impact of the financial crisis on the interaction between the lending rates, deposit rates and money market rates through the process of retail bank interest rate pass-through in the countries of the Euro area. Among our findings is the heterogeneity of bank rate adjustments across sectors, loans and deposits. That was mainly marked during the pre-crisis period by a complete or high long-term pass-through for deposit rates and incomplete for lending rates. However, in the post-crisis period, the degree of pass-through dropped for all bank rates. In addition, we see that the bank rates have become more rigid due to market turbulence since the speed of adjustment towards equilibrium slowed down significantly. Finally, the results show that there is an interdependence of banks' decisions on lending rates as well as deposit rates. It is thus a valuable input in the transmission mechanism of monetary policy.
Keywords:
Keywords: Interest Rate Pass-through , interactions , Money Market Rate , Lending Rates , Deposit Rates , Financial Crisis , Euro Area. JEL Classification: E۴۳ , E۵۲
Authors
Manel Mansour
University of Sousse, Susah, Tunisia
Asma Sghaier
LaMIDED, University of Sousse, Susah, Tunisia
Boutheina Bannour
University of Sousse, Susah, Tunisia
Sami Ben Jabeur
IPAG Business School, Paris, France
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