Montagnoli, A., Napolitano, O. and Siliverstovs, B. (Accepted: 2015) Regional Interest Rate Pass-Through in Italy. Regional Studies. ISSN 0034-3404
Abstract
Regional interest rate pass-through in Italy, Regional Studies. This paper estimates the pass-through and speed of adjustment of Italian regional interest rates to changes in the money market rate for the period 1998Q1–2009Q4. The main findings suggest that the mark-ups for the lending rates that banks charge are generally higher in the South than in the North. Moreover, the empirical results indicate that the pass-through tends to be longer in Southern regions. Furthermore, little support is found for the hypothesis that regional banks react asymmetrically when adjusting their loan rates when these are above or below equilibrium levels, but some evidence supporting an upward rigidity in the regional deposit rates is detected.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2015 Regional Studies Association. This is an author produced version of a paper subsequently published in Regional Studies. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Interest rates pass-through; Monetary policy; Error correction model |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 17 Feb 2016 12:17 |
Last Modified: | 16 Nov 2016 16:26 |
Published Version: | http://dx.doi.org/10.1080/00343404.2015.1022311 |
Status: | Published |
Publisher: | Taylor & Francis |
Refereed: | Yes |
Identification Number: | 10.1080/00343404.2015.1022311 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:95225 |