... the e-MID. What determines banks’ sensitivity to money market interest rates? P. Angelini* V. VaccaĐNovember 2004AbstractAccording to the martingale hypothesis, todays overnight rate should ... level.37918191183 2 1 301020304050607080<-2,0 -2,0 to -1,5 -1,5 to -1,0 -1,0 to -0,5 -0,5 to 0,0 0,0 to 0,5 0,5 to 1,0 1,0 to 1,5 1,5 to 2,0 >=2,0Interval for elasticity estimatesNumber ... 171327105 3 0 0020406080100120<-2,0 -2,0 to -1,5 -1,5 to -1,0 -1,0 to -0,5 -0,5 to 0,0 0,0 to 0,5 0,5 to 1,0 1,0 to 1,5 1,5 to 2,0 >=2,0Interval for elasticity estimatesNumber...