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The effect of the transfer of interest rates in Russia in 2010-2014
[Эффект Переноса Процентных Ставок В России В 2010—2014 Годах]

Author

Listed:
  • Perevyshin, Yuri (Перевышин, Юрий)

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

  • Perevyshina, Elena (Перевышина, Елена)

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

Abstract

The article is devoted to the study of an important element of the transmission mechanism of monetary policy in Russia in 2010-2014, - transfer effect of interest rates on the interbank market interest rates on deposits and loans of commercial banks. The paper presents theoretical approaches to explain the mechanism of transfer of interest rates, the reasons for its incompleteness, the empirical methods of estimating the effect of the transfer on real data. The results of the econometric estimation of the influence of MIACR on deposit rates of commercial banks in the Russian Federation. The possible reasons for the incomplete pass-rates in the Russian banking sector.

Suggested Citation

  • Perevyshin, Yuri (Перевышин, Юрий) & Perevyshina, Elena (Перевышина, Елена), 2015. "The effect of the transfer of interest rates in Russia in 2010-2014
    [Эффект Переноса Процентных Ставок В России В 2010—2014 Годах]
    ," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 38-52.
  • Handle: RePEc:rnp:ecopol:ep1557
    as

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    References listed on IDEAS

    as
    1. Schlüter, Tobias & Busch, Ramona & Hartmann-Wendels, Thomas & Sievers, Sönke, 2012. "Determinants of the interest rate pass-through of banks: Evidence from German loan products," Discussion Papers 26/2012, Deutsche Bundesbank.
    2. Carl R. Chen & David A. Sauer, 1997. "Is Stock Market Overreaction Persistent Over Time?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 24(1), pages 51-66.
    3. Egert, Balazs & Crespo-Cuaresma, Jesus & Reininger, Thomas, 2007. "Interest rate pass-through in central and Eastern Europe: Reborn from ashes merely to pass away?," Journal of Policy Modeling, Elsevier, vol. 29(2), pages 209-225.
    4. Alessandra Smerilli, 2012. "We-thinking and vacillation between frames: filling a gap in Bacharach’s theory," Theory and Decision, Springer, vol. 73(4), pages 539-560, October.
    5. Gambacorta, Leonardo, 2008. "How do banks set interest rates?," European Economic Review, Elsevier, vol. 52(5), pages 792-819, July.
    6. Heinz Handler, 2003. "From Hard Currency Policy to Monetary Union," WIFO Working Papers 210, WIFO.
    7. Moreno-García, Elena, 2007. "Análisis y clasificación de las explicaciones a la crisis financiera mexicana de 1994," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(15), pages 29-52, tercer tr.
    8. repec:eee:apmaco:v:257:y:2015:i:c:p:158-168 is not listed on IDEAS
    9. Toni Gravelle & Maral Kichian & James Morley, 2003. "Shift Contagion in Asset Markets," Staff Working Papers 03-5, Bank of Canada.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Keywords: carry-over effect of the interest rate; the rigidity of interest rates; interest rate policy; interest rate channel; monetary policy;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

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