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Table 1 Literature for the Dominican Republic

From: Interest rate pass-through in the Dominican Republic

Author

Empirical approach

Sample period

Estimated long-run coefficient

Explanatory variables

Gonzalez Pantaleon (2010)

ECM

Quarterly data (1996Q1–2010Q1) and monthly data (1996M1–2010M4), excluding 2003 and 2004

Loans: 0.96–1.44, Deposits: 0.91–1.23, Commercial loans: 1.04–1.25, Personal cons, loans: 0.96–1.13, Mortgage loans: 1.15–1.45

Interbank rate, external interest rate, EMBI spread, reserve requirement coefficient, Lombard window rate

Rivas (2011)

Asymmetric ECM

Monthly data (1996M1–2011M8)

Loans: 0.90–1.42 Deposits: 1.00

Interbank rate

Medina, Carrion, and Frantischek (2011)

Panel S-GMM

Annual data (2004–10) for 40 countries

Loans (DR): 0.65

Monetary policy rate, financial dollarization, exchange rate flexibility, size of the banking sector, banking concentration, and interactions

Andujar (2012)

ECM

Monthly data (1996M1–2007M12)

Loans: 0.94, Deposits: 0.73–0.77

Interbank rate

Aristy Escuder (2014)

ADL model

Monthly data (2008M1–2014M8)

Loans: 2.66, Deposits: 1.65

Monetary policy rate (overnight)

BCRD (2015)

N/A

N/A

Loans: 1.06–1.63, Deposits: 0.85–0.92

 
  1. The estimated long-run coefficient refers to different maturities depending on the paper