Efecto traspaso de tasas de interés: análisis econométrico de los efectos de las decisiones de política monetaria en República Dominicana
The study of the transmission mechanisms of central banks’ interest rate decisions is crucial for the design and implementation of an efficient and effective monetary policy. An estimation of how changes in the monetary policy rate pass on to the long-term rates of the economy is known, in empirical...
- Autores:
-
Andújar-Scheker, Julio Gabriel
- Tipo de recurso:
- Article of journal
- Fecha de publicación:
- 2012
- Institución:
- Universidad Católica de Colombia
- Repositorio:
- RIUCaC - Repositorio U. Católica
- Idioma:
- spa
- OAI Identifier:
- oai:repository.ucatolica.edu.co:10983/18515
- Acceso en línea:
- https://hdl.handle.net/10983/18515
- Palabra clave:
- EFECTO TRASPASO DE TASAS DE INTERÉS
MECANISMOS DE TRANSMISIÓN
POLÍTICA MONETARIA
COINTEGRACIÓN
MECANISMOS DE CORRECCIÓN DE ERRORES
REGRESIÓN MÓVIL
REPÚBLICA DOMINICANA
- Rights
- openAccess
- License
- Derechos Reservados - Universidad Católica de Colombia, 2012
| Summary: | The study of the transmission mechanisms of central banks’ interest rate decisions is crucial for the design and implementation of an efficient and effective monetary policy. An estimation of how changes in the monetary policy rate pass on to the long-term rates of the economy is known, in empirical literature, as the interest rate pass-through. This paper develops an econometric strategy, based on cointegration, error correction techniques and recursive regressions, to estimate the magnitude, completeness, rigidity and velocity of convergence of the interest rate pass-through in the Dominican Republic, as well as the existence of possible structural changes in such transmission. |
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