Testing a disequilibrium model of lending rate determination : the case of Malaysia /

Testing a disequilibrium model of lending rate determination : the case of Malaysia /

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Bibliographic Details
Author / Creator:	Scholnick, Barry, author.
Imprint:	[Washington, D.C.?] : International Monetary Fund, Central Banking Department, 1991.
Description:	1 online resource (iii, 27 pages) : illustrations.
Language:	English
Series:	IMF working paper ; WP/91/84 IMF working paper ; WP/91/84.
Subject:	Interest rates -- Malaysia. Monetary policy -- Malaysia. Monetary policy. Economic policy. Interest rates. Malaysia -- Economic policy. Malaysia.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12497256

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Central Banking Department, author.
ISBN:	1455207012 9781455207015 146239941X 9781462399413
Notes:	Includes bibliographical references (pages 26-27). Restrictions unspecified Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	This study examines whether lending rates cleared the market for loans in Malaysia after interest rate liberalization. It is based on a theoretical model in which adverse selection and marginal cost pricing are brought together by the use of a quadratic loss function in the error correction format. This allows for the use of the cointegration methodology. Long-run tests support the model proposed in the paper, while rejecting part of the financial liberalization model. from the short-run results it is concluded that there is a large lag before lending rates respond to exogenous shocks, thus confirming that they do not fully clear the market for loans.
Other form:	Print version: Scholnik, Barry. Testing a disequilibrium model of lending rate determination. [Washington, D.C.?] : International Monetary Fund, Central Banking Dept., 1991

Description
Summary:	This study examines whether lending rates cleared the market for loans in Malaysia after interest rate liberalization. It is based on a theoretical model in which adverse selection and marginal cost pricing are brought together by the use of a quadratic loss function in the error correction format. This allows for the use of the cointegration methodology. Long-run tests support the model proposed in the paper, while rejecting part of the financial liberalization model. From the short-run results it is concluded that there is a large lag before lending rates respond to exogenous shocks, thus confirming that they do not fully clear the market for loans.
Physical Description:	1 online resource (iii, 27 pages) : illustrations.
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 26-27).
ISBN:	1455207012 9781455207015 146239941X 9781462399413