Browsing BI Research Centre's Series by Subject "incomplete or asymmetric interest rate pass-through"
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Is Monetary Policy Always Effective? Incomplete Interest Rate Pass-through in a DSGE Model
(CAMP Working Paper Series;09/2019, Working paper, 2019-11)We estimate a regime-switching DSGE model with a banking sector to explain incomplete and asymmetric interest rate pass-through, especially in the presence of a binding zero lower bound (ZLB) constraint. The model is ...