Horváth, Csilla; Krekó, Judit; Naszódi, Anna - Magyar Nemzeti Bank (MNB) - 2004
This paper studies the pass-through from the short-term money market rate to various forint denominated bank rates in … affects the pass-through. At least one of the parameters determining the speed of adjustment changed towards faster adjustment … pass-through could not offset the effect of higher money market rate shocks completely, which resulted in higher volatility …