Measuring the pass-through of the reference policy rate to deposit rates in Argentina

Using a panel-time series approach that allows for heterogeneity, we study the pass-through of the policy reference rate to time deposit rates using high frequency data. We also evaluate the impact of the introduction of a new modality of online time deposit contracts in April 2019 on the transmissi...

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Detalles Bibliográficos
Autores principales:	D'Amato, Laura Inés, Sangiácomo, Máximo
Formato:	Objeto de conferencia
Lenguaje:	Inglés
Publicado:	2019
Materias:	Ciencias Económicas panel-time series pass-through deposit rates
Acceso en línea:	http://sedici.unlp.edu.ar/handle/10915/173838
Aporte de:	SEDICI (UNLP) de Universidad Nacional de La Plata

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spelling	I19-R120-10915-1738382024-11-28T20:13:08Z http://sedici.unlp.edu.ar/handle/10915/173838 Measuring the pass-through of the reference policy rate to deposit rates in Argentina Análisis de transmisión de la tasa de interés de referencia a las tasas pasivas D'Amato, Laura Inés Sangiácomo, Máximo 2019-11 2019 2024-11-28T18:47:03Z en Ciencias Económicas panel-time series pass-through deposit rates Using a panel-time series approach that allows for heterogeneity, we study the pass-through of the policy reference rate to time deposit rates using high frequency data. We also evaluate the impact of the introduction of a new modality of online time deposit contracts in April 2019 on the transmission of the central bank reference policy rate to time deposit rates offered by banks in Argentina. We find that there is an incomplete long run pass-through in both the corporate and household segments of the deposits market. The results also indicate that the implementation of the new modality, aimed at stimulating more competition for funds between banks, led to a significant increase in the responsiveness of bank time deposit rates to movements in the reference policy rate, particularly in the corporate segment of the market. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf
institution	Universidad Nacional de La Plata
institution_str	I-19
repository_str	R-120
collection	SEDICI (UNLP)
language	Inglés
topic	Ciencias Económicas panel-time series pass-through deposit rates
spellingShingle	Ciencias Económicas panel-time series pass-through deposit rates D'Amato, Laura Inés Sangiácomo, Máximo Measuring the pass-through of the reference policy rate to deposit rates in Argentina
topic_facet	Ciencias Económicas panel-time series pass-through deposit rates
description	Using a panel-time series approach that allows for heterogeneity, we study the pass-through of the policy reference rate to time deposit rates using high frequency data. We also evaluate the impact of the introduction of a new modality of online time deposit contracts in April 2019 on the transmission of the central bank reference policy rate to time deposit rates offered by banks in Argentina. We find that there is an incomplete long run pass-through in both the corporate and household segments of the deposits market. The results also indicate that the implementation of the new modality, aimed at stimulating more competition for funds between banks, led to a significant increase in the responsiveness of bank time deposit rates to movements in the reference policy rate, particularly in the corporate segment of the market.
format	Objeto de conferencia Objeto de conferencia
author	D'Amato, Laura Inés Sangiácomo, Máximo
author_facet	D'Amato, Laura Inés Sangiácomo, Máximo
author_sort	D'Amato, Laura Inés
title	Measuring the pass-through of the reference policy rate to deposit rates in Argentina
title_short	Measuring the pass-through of the reference policy rate to deposit rates in Argentina
title_full	Measuring the pass-through of the reference policy rate to deposit rates in Argentina
title_fullStr	Measuring the pass-through of the reference policy rate to deposit rates in Argentina
title_full_unstemmed	Measuring the pass-through of the reference policy rate to deposit rates in Argentina
title_sort	measuring the pass-through of the reference policy rate to deposit rates in argentina
publishDate	2019
url	http://sedici.unlp.edu.ar/handle/10915/173838
work_keys_str_mv	AT damatolauraines measuringthepassthroughofthereferencepolicyratetodepositratesinargentina AT sangiacomomaximo measuringthepassthroughofthereferencepolicyratetodepositratesinargentina AT damatolauraines analisisdetransmisiondelatasadeinteresdereferenciaalastasaspasivas AT sangiacomomaximo analisisdetransmisiondelatasadeinteresdereferenciaalastasaspasivas
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Measuring the pass-through of the reference policy rate to deposit rates in Argentina

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