Égert, Balázs; Crespo-Cuaresma, Jesus; Reininger, Thomas - William Davidson Institute, University of Michigan - 2006
transmission
mechanism, transition economies, Central and Eastern Europe, Austria,
Germany, Spain.
JEL: E43, E50, E52, C22, G21 … sluggishly to changes in the policy rate
1
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The interest rate pass-through is of particular interest in transition economies … Autoregression (VAR) setting.
Our results indicate that the interest rate pass-through is generally lower in transition
economies …