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:
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

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520 8 |a 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. 
546 |a English. 
650 0 |a Interest rates  |z Malaysia. 
651 0 |a Malaysia  |x Economic policy. 
650 0 |a Monetary policy  |z Malaysia. 
650 6 |a Banques centrales  |z Malaisie. 
650 6 |a Politique monétaire  |z Malaisie. 
650 6 |a Taux d'intérêt  |z Malaisie. 
651 6 |a Malaisie  |x Politique économique. 
650 7 |a Monetary policy.  |2 fast  |0 (OCoLC)fst01025230 
650 7 |a Economic policy.  |2 fast  |0 (OCoLC)fst00902025 
650 7 |a Interest rates.  |2 fast  |0 (OCoLC)fst00976178 
651 7 |a Malaysia.  |2 fast  |0 (OCoLC)fst01204590 
710 2 |a International Monetary Fund.  |b Central Banking Department,  |e author.  |0 http://id.loc.gov/authorities/names/n85203307 
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