Kwapil, Claudia; Scharler, Johann - In: Journal of International Money and Finance 29 (2010) 2, pp. 236-251
In this paper we analyze equilibrium determinacy in a sticky price model in which the pass-through from policy rates to retail interest rates is sluggish and potentially incomplete. In addition, we empirically characterize and compare the interest rate pass-through process in the euro area and...