Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/301169 
Year of Publication: 
2024
Series/Report no.: 
Graduate Institute of International and Development Studies Working Paper No. HEIDWP10-2024
Publisher: 
Graduate Institute of International and Development Studies, Geneva
Abstract: 
This paper examines the pass-through of European Central Bank (ECB) monetary policy to deposit rates in Bosnia and Herzegovina (B&H). We use aggregate and bank-level data to study interest rate pass-through by bank size and ownership for the period 2012-2023. In extensions, we also study pass-through by counterparty and maturity of deposit contracts. Our results suggest that average pass-through is slow and incomplete. We document that pass-through is faster and more complete for banks which are small and foreign-owned, as compared to banks which are large (and foreign-owned), or banks which are small and domestic. This finding suggests that pass-through depends both on domestic market power of banks as well as their access to foreign money markets.
Subjects: 
monetary policy
transmission mechanism
deposit rates
currency board
JEL: 
E42
E52
E58
E60
Document Type: 
Working Paper

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