Interest rate pass-through in the UK: has the transmission mechanism changed during the financial crisis?
Interest rate has been the monetary policy tool used by the modern central banks. For monetary policy to be effective, changes in the policy rate should influence the short-term money market rate and retail rates. Using an error correction methodology, this paper examines the short-run and long-run...
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Main Authors: | Ahmad Hassan Ahmad, Nusrate Aziz, Shahina Rummun |
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Format: | Default Article |
Published: |
2013
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Subjects: | |
Online Access: | https://hdl.handle.net/2134/14018 |
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