Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/80812
Authors: 
Montagnoli, Alberto
Napolitano, Oreste
Siliverstovs, Boriss
Year of Publication: 
2012
Series/Report no.: 
KOF Working Papers, KOF Swiss Economic Institute, ETH Zurich 308
Abstract: 
This paper estimates the pass-through and speed of adjustment of Italian regional interest rates to changes in the money market rate for the period 1998Q1-2009Q4. Our main findings suggest that the markup for the lending rates that banks charge are generally higher in the South than in the North. Moreover, our results indicate that the pass-through tends to be longer in Southern regions. We find little evidence supporting the hypothesis of asymmetric adjustment in the lending rates, but detect some evidence supporting upward rigidity in the regional deposit rates.
Subjects: 
Interest rates pass-through
monetary policy
error correction model
JEL: 
E43
E50
R11
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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