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- W1606916982 abstract "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." @default.
- W1606916982 created "2016-06-24" @default.
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- W1606916982 date "2007-01-01" @default.
- W1606916982 modified "2023-09-27" @default.
- W1606916982 title "Interest Rate Pass-Through in Turkey" @default.
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