Interest Rate Pass-Through in Turkey

摘要: We examine the speed and rate of adjustment lending rates to monetary policy for corporate, housing, cash automobile loans using bank-level micro data. show that empirical results on unit root, co-integration tests estimation co-integrating vector improve when we allow cross-sectional dependence. find evidence in favor central bank control over credit market via short-term interest rates, which is more apparent post-credit boom period. Estimation reveal while corporate are not sensitive changes rate, loan responsive rate. Housing loans, other hand, display excessive sensitivity