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Macroeconomic Determinants of MIR Rate: Evidence from the Euro area

Anastasiou, Dimitrios (2017): Macroeconomic Determinants of MIR Rate: Evidence from the Euro area.

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Abstract

The objective of this study is to examine the determinants of MIR rate in the Euro area for the period 2003Q1-2015Q3. By employing Fixed Effects, Random Effects and Dynamic OLS (DOLS) as econometric methodologies, I examine if the MIR rate is affected by the following macroeconomic factors: unemployment rate, inflation rate, GDP growth, political stability index and wages as % to GDP. All of these factors found to exert great significance to MIR rate and thus they have to be taken into consideration when macro-prudential policies are designing.

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