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...
- Autores:
- 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
- Rights
- License
- Abierto (Texto Completo)
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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 |
_version_ |
1814167615919095808 |