Now showing items 21-40 of 51

    • Investigation on sources of growth for Turkey 

      Bayraktar, B. (Routledge, 2006)
      This paper evaluates the correlations between growth and selected macroeconomic indicators in, Turkey under the dynamic macroeconomic adjustments as a globalizing developing economy during 1968-1998. In this context, a ...
    • Market-based measures of monetary policy expectations 

      Gürkaynak, R. S.; Sack, B. P.; Swanson, E. T. (Taylor & Francis Inc., 2007)
      A number of recent articles have used different financial market instruments to measure near-term expectations of the federal funds rate and the high-frequency changes in these instruments around Federal Open Market Committee ...
    • Measuring monetary policy for a small open economy: Turkey 

      Berument, H. (Elsevier BV, 2007)
      This paper proposes a measure to assess the monetary policy for a highly inflationary small open economy: Turkey. The empirical evidence suggests that positive innovations in the spread between the Central Bank's interbank ...
    • Measuring the impact of monetary policy on asset prices in Turkey 

      Duran, M.; Özcan G.; Özlü P.; Ünalmiş, D. (2012)
      Little is known about the impact of monetary policy on asset prices in emerging markets. This study applies the heteroscedasticity-based GMM for financial markets in Turkey. The results suggest that event study estimates ...
    • Monetary policy and interest rates under inflation targeting in Australia and New Zealand 

      Berument, H.; Froyen, R. T. (Routledge, 2015)
      One advantage cited for formal inflation targeting is that by anchoring inflationary expectations this policy framework would aid in the pricing of long-term securities. Long-term interest rates would become less sensitive ...
    • Monetary policy and long term interest rates: evidence from weekly data 

      Berument, H.; Froyen, R. T. (Elsevier BV, 2006)
      This paper assesses the effect of federal funds rate innovations on longer-term US nominal interest rates across different periods. The evidence suggests that these responses change with changes in the monetary policy ...
    • Monetary policy and U.S. long-term interest rates: how close are the linkages? 

      Berument, H.; Froyen, R. (Elsevier Inc., 2009)
      The effect of monetary policy on long-term interest rates has been a question of interest in recent years. A number of papers, relying on single-equation estimation techniques, have presented evidence that long-term interest ...
    • Monetary policy implications of short-term capital flows in Turkey 

      Dağlaroğlu, T.; Demirel, B.; Mahmud, S. F. (Springer New York LLC, 2018)
      The advent of global financial crisis in 2008, unleashed volatile short term capital flows to the emerging markets. This has forced many central banks in the developing world to adopt innovative policy measures to address ...
    • Monetary policy in a Two–Agent New Keynesian (TANK) model with two sectors 

      Erten, Eser Tuna (Bilkent University, 2019-09)
      The objective of this study is to analyze the implications of consumer heterogeneity for monetary policy in a setting simpler than a general heterogeneous agent model. I present a Two–Agent New Keynesian (TANK) model ...
    • Monetary policy in Turkey after Central Bank independence 

      Gürkaynak, R. S.; Kantur, Z.; Taş, A. M.; Yıldırım-Karaman, S. (BİLGESEL Yayıncılık San. ve Tic. Ltd. Şti., 2015)
      We present an accessible narrative of the Turkish economy since its great 2001 crisis. We broadly survey economic developments and pay particular attention to monetary policy. The data suggests that the Central Bank of ...
    • Monetary policy responses to the exchange rate: Empirical evidence from the ECB 

      Demir, İ. (Elsevier, 2014)
      The exchange rate is an important part of the transmission mechanism in the determination of monetary policy because movements in the exchange rate have significant effect on the macroeconomy. It can be difficult to measure ...
    • Monetary policy rules in practice: evidence from Turkey 

      Berument, H.; Taşçı, H. (John Wiley & Sons Ltd., 2004)
      This paper estimates a forward-looking monetary policy reaction function of the Central Bank of the Republic of Turkey by considering the period from 1990:01 to 2000:10. When the spread between the interbank rate and ...
    • Monetary policy under a multiple-tool environment 

      Varlık, S.; Berument, M. Hakan (Board of Trustees of the Bulletin of Economic Research and John Wiley & Sons Ltd, 2019)
      Since the 2008 global financial crisis, central banks have been using a new set of policy tools in addition to conventional tools (such as short‐term interest rates) to conduct monetary policy. This paper employs a methodology ...
    • Monetary policy, income and prices: a stability assessment 

      Berument, H.; Taşçı, H. (Routledge, 2002)
      This paper assesses the stability of the money-income relationship for seven OECD countries. When the sample was split into two subsamples: pre- and post-1980, the empirical evidence presented in this paper shows that even ...
    • Monetary transmission mechanism in Turkey under the monetary conditions index: an alternative policy rule 

      Us, V. (Routledge, 2004)
      This study analyses monetary transmission mechanism in Turkey using a small structural macroeconomic model. The core equations of the model consist of aggregate demand, wage-price setting, uncovered interest rate parity, ...
    • Multiple policy interest rates and economic performance in a multiple monetary-policy-tool environment 

      Varlik, S.; Berument, M. H. (Elsevier, 2017)
      This paper assesses the individual effects on economic performance of different monetary policy interest rates for a central bank. To measure these effects, we employ an extension of existing Factor-Augmented Vector ...
    • Openness and the effectiveness of monetary policy: a cross-country analysis 

      Berument, H.; Konac, N.; Senay, O. (Routledge, 2007)
      This paper evaluates the relationship between a country's openness to trade and the effectiveness of monetary policy in changing output growth and inflation in 29 different countries. Using quarterly data from the 1957–2003 ...
    • Openness and the effectiveness of monetary policy: empirical evidence from Turkey 

      Berument, H.; Doǧan, B. (Routledge, 2003)
      The empirical evidence suggests that openness decreases the effect of monetary policy on output, however the effect on prices is not statistically significant. In this study these predictions are tested over the open economy ...
    • The policy challenge with floating exchange rates: Turkey's recent experience 

      Selçuk, F. (Springer New York LLC, 2005)
      This paper evaluates the developments in the Turkish economy in light of the Central Bank of Turkey's (CBT) policies during a recent period of floating exchange rate system (March 2001-July 2003). It is found that the CBT ...
    • Potential information and target variables for UK monetary policy 

      Berument, H.; Froyen, R. T. (Routledge, 1998)
      The relationship between traditional monetary policy goal variables (nominal GDP, real GPD and the inflation rate) and a number of financial market variables is investigated. The question examined is which if any of these ...