Coricelli, Fabrizio; Égert, Balázs; MacDonald, Ronald - William Davidson Institute, University of Michigan - 2006
,transition,CentralandEasternEurope,credit
channel, interest rate channel, interest-rate pass-through, exchange rate channel, ex-
change rate pass-through, asset price …(incomeeffect), mainlybecauseofinstitutionalfactors(thegovernmentsubsidy
scheme and the domination of xed noncallable mortgages).
3
13
4 Exchange Rate Channel
Beside … literature and summa-
rize the empirical ndings for the CEE transition economies for the interest channel, the exchange
rate …