IMF paper says transmission is working but lopsided in the Dominican Republic
Future work should focus on balancing pass-through, authors say
The Dominican Republic has been successful in establishing a monetary transmission mechanism to support its move to inflation targeting, but future efforts should focus on balancing the pass-through to deposit and lending rates, a working paper published by the IMF on December 10 finds.
Interest Rate Pass-Through in the Dominican Republic by Francesco Grigoli and José Mota models the degree to which changes in the central bank's policy rate feed through into retail interest rates. The authors
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