The effect of the transfer of interest rates in Russia in 2010-2014
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.
Volume (Year): 5 (2015)
Issue (Month): ()
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