... on the share of variableinterest rate contracts, the frequency of the interest rate variations defined in the contract and the correlation of the MMR with the reference interest rate used in the ... First, for each of the retail bank rates, the following error correction modelequation is estimated:where r and i stand, respectively, for the retail bank rate and the MMR, and ∆ is the first differenceoperator. The ... Germany, Italy and the Netherlands. Similarly, the pass-through todeposit rates is significantly smaller in Spain than in the other countries. Lastly, the response ofinterest rates on corporate credit...