Interest Rate Pass-Through in Turkey

Autor :Halil İbrahim Aydin
Herausgeber :
Central Bank Of Turkey, Research Department
Herkunft :Sondersammelgebiet Vorderer Orient einschl. Nordafrika
Datum :01.01.2007
Dokumente :
Dataobject from HALCoRe_document_00013080
Typ :Forschungsarbeit
Format :Text
Kurzfassung :We examine the speed and rate of adjustment of lending rates to monetary policy rate for corporate, housing, cash and automobile loans using bank-level micro data. We show that empirical results on unit root, co-integration tests and the estimation of co-integrating vector improve when we allow cross-sectional dependence. We find evidence in favor of central bank control over credit market via short-term interest rates, which is more apparent in the post-credit boom period. Estimation results reveal that while corporate loans are not sensitive to changes in the policy rate, cash and automobile loan rates are responsive to the policy rate. Housing loans, on the other hand, display excessive sensitivity to the policy rate.
Schlagwörter :Türkei
Quelle :http://www.tcmb.gov.tr/research/discus/WP0705ENG.pdf
Rechte :Autor
Anmerkungen :http://www.econturk.org/
Erstellt am :15.03.2012 - 14:30:23
Letzte Änderung :15.03.2012 - 14:30:52
MyCoRe ID :HALCoRe_document_00013080
Statische URL :http://edoc.bibliothek.uni-halle.de/servlets/DocumentServlet?id=13080