Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/86135
Authors: 
Anastasi, Alejandra
Elosegui, Pedro
Sangiácomo, Máximo
Year of Publication: 
2009
Series/Report no.: 
Working Paper, Central Bank of Argentina (BCRA) 2009/41
Abstract (Translated): 
This paper analyzes the determinants of the interest rate of short-term unsecured loan inter-bank market (call) in Argentina. The results show that the heterogeneous nature of the entities, in terms of size and origin of ownership, impacts on the interest rate agreed. Other additional aspects, such as the linkages between entities and the degree of supply or demand concentration, also affect the cost of funding. The structure of the market and the repo rates established by the BCRA are also relevant. Finally, the interest rate reacts positively when banks have a higher demand for liquidity, due to both seasonality and episodes of reduction in deposits.
Subjects: 
Argentina
interest rate
monetary policy
short-term liquidity markets
JEL: 
E43
E58
G14
G21
Document Type: 
Working Paper

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