Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks

Using a sample of Colombian banks, we examine retail interest rate adjustment in response to changes in wholesale interest rates. Interest rate pass through running from wholesale to retail rates is found to be both partial and heterogeneous across banks. This suggests that the effectiveness of mone...

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Tipo de recurso:
Fecha de publicación:
2015
Institución:
Universidad del Rosario
Repositorio:
Repositorio EdocUR - U. Rosario
Idioma:
eng
OAI Identifier:
oai:repository.urosario.edu.co:10336/23889
Acceso en línea:
https://doi.org/10.1016/j.econmod.2015.04.015
https://repository.urosario.edu.co/handle/10336/23889
Palabra clave:
Asymmetries
Interest rate pass-through
M/TAR model
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network_name_str Repositorio EdocUR - U. Rosario
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spelling eb727fd3-c31e-4a26-8c50-6f3fee0e65b3-11f1a7996-5b8a-4390-bdc9-3ff88367043b-1792428146002020-05-26T00:06:25Z2020-05-26T00:06:25Z2015Using a sample of Colombian banks, we examine retail interest rate adjustment in response to changes in wholesale interest rates. Interest rate pass through running from wholesale to retail rates is found to be both partial and heterogeneous across banks. This suggests that the effectiveness of monetary policy is limited. Further investigation reveals that the behaviour of retail deposit rates appears consistent with collusive behaviour between banks insofar as interest rates are more rapidly adjusted downwards than upwards. In the case of retail lending rates, it appears that banks more rapidly reduce than increase rates. This suggests that expansionary monetary policy in Colombia may be relatively more effective than contractionary policy. © 2015 Elsevier B.V.application/pdfhttps://doi.org/10.1016/j.econmod.2015.04.0152649993https://repository.urosario.edu.co/handle/10336/23889engElsevier277270Economic ModellingVol. 49Economic Modelling, ISSN:2649993, Vol.49,(2015); pp. 270-277https://www.scopus.com/inward/record.uri?eid=2-s2.0-84929623032&doi=10.1016%2fj.econmod.2015.04.015&partnerID=40&md5=d993d5a59d993b06d4422220c969a486Abierto (Texto Completo)http://purl.org/coar/access_right/c_abf2instname:Universidad del Rosarioreponame:Repositorio Institucional EdocURAsymmetriesInterest rate pass-throughM/TAR modelInterest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banksarticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501Holmes, Mark J.Iregui, Ana MaríaOtero Cardona, Jesús Gilberto10336/23889oai:repository.urosario.edu.co:10336/238892022-05-02 07:37:21.262923https://repository.urosario.edu.coRepositorio institucional EdocURedocur@urosario.edu.co
dc.title.spa.fl_str_mv Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
title Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
spellingShingle Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
Asymmetries
Interest rate pass-through
M/TAR model
title_short Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
title_full Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
title_fullStr Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
title_full_unstemmed Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
title_sort Interest rate pass through and asymmetries in retail deposit and lending rates: An analysis using data from Colombian banks
dc.subject.keyword.spa.fl_str_mv Asymmetries
Interest rate pass-through
M/TAR model
topic Asymmetries
Interest rate pass-through
M/TAR model
description Using a sample of Colombian banks, we examine retail interest rate adjustment in response to changes in wholesale interest rates. Interest rate pass through running from wholesale to retail rates is found to be both partial and heterogeneous across banks. This suggests that the effectiveness of monetary policy is limited. Further investigation reveals that the behaviour of retail deposit rates appears consistent with collusive behaviour between banks insofar as interest rates are more rapidly adjusted downwards than upwards. In the case of retail lending rates, it appears that banks more rapidly reduce than increase rates. This suggests that expansionary monetary policy in Colombia may be relatively more effective than contractionary policy. © 2015 Elsevier B.V.
publishDate 2015
dc.date.created.spa.fl_str_mv 2015
dc.date.accessioned.none.fl_str_mv 2020-05-26T00:06:25Z
dc.date.available.none.fl_str_mv 2020-05-26T00:06:25Z
dc.type.eng.fl_str_mv article
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_6501
dc.type.spa.spa.fl_str_mv Artículo
dc.identifier.doi.none.fl_str_mv https://doi.org/10.1016/j.econmod.2015.04.015
dc.identifier.issn.none.fl_str_mv 2649993
dc.identifier.uri.none.fl_str_mv https://repository.urosario.edu.co/handle/10336/23889
url https://doi.org/10.1016/j.econmod.2015.04.015
https://repository.urosario.edu.co/handle/10336/23889
identifier_str_mv 2649993
dc.language.iso.spa.fl_str_mv eng
language eng
dc.relation.citationEndPage.none.fl_str_mv 277
dc.relation.citationStartPage.none.fl_str_mv 270
dc.relation.citationTitle.none.fl_str_mv Economic Modelling
dc.relation.citationVolume.none.fl_str_mv Vol. 49
dc.relation.ispartof.spa.fl_str_mv Economic Modelling, ISSN:2649993, Vol.49,(2015); pp. 270-277
dc.relation.uri.spa.fl_str_mv https://www.scopus.com/inward/record.uri?eid=2-s2.0-84929623032&doi=10.1016%2fj.econmod.2015.04.015&partnerID=40&md5=d993d5a59d993b06d4422220c969a486
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_abf2
dc.rights.acceso.spa.fl_str_mv Abierto (Texto Completo)
rights_invalid_str_mv Abierto (Texto Completo)
http://purl.org/coar/access_right/c_abf2
dc.format.mimetype.none.fl_str_mv application/pdf
dc.publisher.spa.fl_str_mv Elsevier
institution Universidad del Rosario
dc.source.instname.spa.fl_str_mv instname:Universidad del Rosario
dc.source.reponame.spa.fl_str_mv reponame:Repositorio Institucional EdocUR
repository.name.fl_str_mv Repositorio institucional EdocUR
repository.mail.fl_str_mv edocur@urosario.edu.co
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