Kwapil, Claudia; Scharler, Johann - In: International Review of Economics & Finance 27 (2013) C, pp. 542-551
In this paper we explore empirically to what extent expected monetary policy matters for the dynamics of bank lending rates in the U.S. and in the U.K. Based on endogenously determined break points, we document a number of structural breaks in the relationship between expected policy and retail...