Interest Rate Pass-Through in Romania and Other Central European Economies, Issues 2004-2211

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International Monetary Fund, Nov 1, 2004 - Business & Economics - 19 pages
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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.

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