... that market interest rates are (weakly) exogenous to retail bank interest rates. This assumption makes economically sense, since bank interest rates are not expected to affect market interest ... of this dependence in the sluggishness in their response to changes in the money market interest rate. For retail rates, including a large proportion of bank interest rates with a short maturity, ... 2004, Convergence in euro-zone retail banking? What interest rate pass-through tells us about monetary policy transmission, competition and integration, Journal of International Money and Finance,...