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Symmetric or asymmetric interest rate adjustments? Evidence from Greece, Bulgaria and Slovenia

Karagiannis, Stelios, Panagopoulos, Yannis and Vlamis, Prodromos (2010) Symmetric or asymmetric interest rate adjustments? Evidence from Greece, Bulgaria and Slovenia. Hellenic Observatory papers on Greece and Southeast Europe (GreeSE paper no. 39). Hellenic Observatory, London School of Economics and Political Science, London, UK.

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The purpose of this paper is to examine how effectively the wholesale interest rates are transmitted to the retail rates, and whether the interest rate pass-through is symmetric or asymmetric in Greece, Bulgaria and Slovenia. The disaggregated general-to-specific methodology is applied for testing the symmetry hypothesis in these economies. It is evident from our results that across the countries examined there exist variations regarding the monetary transmission process and the symmetry hypothesis alike. This can be interpreted as an indication of a different level of competition, development and liberalization among the banking systems in these South Eastern European economies.

Item Type: Monograph (Working Paper)
Official URL:
Additional Information: © 2010 Stelios Karagiannis, Yannis Panagopoulos and Prodromos Vlamis
Divisions: European Institute
Hellenic Observatory
Subjects: D History General and Old World > DF Greece
H Social Sciences > HG Finance
D History General and Old World > DR Balkan Peninsula
Sets: Departments > European Institute
Research centres and groups > Hellenic Observatory
Collections > Economists Online
Date Deposited: 31 Aug 2010 14:01
Last Modified: 14 May 2021 11:33

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