کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5091314 | 1375671 | 2006 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Monetary transmission via the administered interest rates channel
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper examines the dynamics of administered interest rate changes in response to changes in the benchmark money market rate in Singapore. Our results show that the administered rates' adjustment speed differs across both financial institutions and financial products. The financial institutions' administered (lending and deposit) rates, moreover, are more rigid when they are below their equilibrium level than when they are above. Our finding, hence, implies that the speed of monetary transmission is not uniform across all sectors of the economy and that a tightening monetary policy takes a longer time to impact the economy than an expansionary monetary policy.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 30, Issue 5, May 2006, Pages 1467-1484
Journal: Journal of Banking & Finance - Volume 30, Issue 5, May 2006, Pages 1467-1484
نویسندگان
Beng Soon Chong, Ming-Hua Liu, Keshab Shrestha,