Browsing by Keywords "Interest rate"
Now showing items 1-18 of 18
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Determinants of workers' remittances: Turkish evidence from high-frequency data
(Routledge, 2006)The potential importance of workers remittances (WR) as a relatively stable source of foreign exchange has been growing across the world. We present time-series evidence on the determinants of WR in a large developing ... -
Effectiveness of the reserve option mechanism as a macroeconomic prudential tool: evidence from Turkey
(Routledge, 2015)This article assesses the effectiveness of a novel macroprudential tool – the reserve option mechanism (ROM) – which Turkey’s central bank developed during the post-2008 period and has employed to control the risk associated ... -
The effects of capital inflows on Turkish macroeconomic performance
(Springer/Kluwer Academic Publishers, 2015)Capital inflows are important factor affecting macroeconomic performance, such as the real exchange rate, interest rates, output, and price level. However, the components of capital inflows are also important. Capital ... -
Effects of the real exchange rate on output and inflation: evidence from Turkey
(Wiley-Blackwell Publishing Ltd., 2003)This paper assesses the effects of real depreciation on the economic performance of Turkey by considering quarterly data from 1987:I to 2001:III. The empirical evidence suggests that, contrary to classical wisdom, the real ... -
Exchange rate risk and interest rate: a case study for Turkey
(Bilkent University, 2001)This thesis examines the effect of exchange rate risk on interest rates within the uncovered interest rate parity condition for Turkey. When the interest rate is measured with the Treasury auction interest rate and the ... -
Exchange rate risk and interest rate: a case study for Turkey
(Springer New York LLC, 2003)This paper examines the effect of exchange rate risk on interest rates within the uncovered interest rate parity condition for Turkey. When the interest rate is measured with the Treasury auction interest rate and the ... -
The Fisher hypothesis: a multi-country analysis
(Routledge, 2002)This paper tests whether the Fisher hypothesis holds for a sample of 26 countries by assessing the long run relationship between nominal interest rates and inflation rates taking into consideration the short run dynamics ... -
The Fisher hypothesis: a multi-country analysis
(Bilkent University, 1999)There is a long tradition of testing the Fisher hypothesis on the long run relationship between inflation and nominal interest rates. In this study, we examine the before tax strong version of the Fisher hypothesis for ... -
The impact of inflation uncertainty on interest rates in the UK
(Wiley-Blackwell Publishing Ltd., 1999)This paper assesses the effect of expected inflation and inflation risk on interest rates within the Fisher hypothesis framework. Autoregressive Conditional Heteroscedastic models are used to estimate the conditional ... -
Impact of macroeconomic indicators on short selling: evidence from the Tokyo stock exchange
(Elsevier Inc., 2012)This chapter examines the existence of cointegration between short selling volume and the Nikkei 225 Index to investigate the permanent relation between the two. For this purpose, the Japanese financial markets with monthly ... -
Inflation uncertainty and interest rates: Is the Fisher relation universal?
(Routledge, 2007)This paper tests the validity of the Fisher hypothesis, which establishes a positive relation between interest rates and expected inflation, for the G7 countries and 45 developing economies. For this purpose, we estimate ... -
Macroeconomics of twin-targeting in Turkey: analytics of a financial computable general equilibrium model
(Routledge, 2008)The paper provides an overview of the post-1998 Turkish economy and constructs a macroeconomic computable general equilibrium (CGE) model to illustrate the real and financial sectoral adjustments of the Turkish economy ... -
The missing link between inflation uncertainty and interest rates
(Wiley-Blackwell Publishing Ltd., 2005)In the literature, there is no consensus about the direction of the effects of inflation uncertainty on interest rates. This paper states that such a result may stem from differentiation in the sources of the uncertainties ... -
Monetary transmission mechanism in Turkey under the monetary conditions index: an alternative policy rule
(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, ... -
Overnight borrowing, interest rates and extreme value theory
(Elsevier BV, 2006)We examine the dynamics of extreme values of overnight borrowing rates in an inter-bank money market before a financial crisis during which overnight borrowing rates rocketed up to (simple annual) 4000 percent. It is shown ... -
The policy challenge with floating exchange rates: Turkey's recent experience
(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 ... -
Public sector pricing behavior and inflation risk premium in Turkey
(Routledge, 2003)Turkey has had a high level of inflation since the mid-1970s. Governments use various fiscal and monetary policy tools to control inflation. In addition to these tools, governments also attempt to control inflation by ... -
What Fisher knew about his relation, we sometimes forget
(Elsevier BV, 2008)Expected consumption growth increases the real interest rate as one tries to smooth consumption over time. We demonstrate that placing it in the Fisher relation 1) is consistent with the Euler equation governing the purchase ...
