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dc.contributor.authorAkinci, Ö.en_US
dc.contributor.authorÇulha, O. Y.en_US
dc.contributor.authorÖzlale, Ü.en_US
dc.contributor.authorŞahinbeyoǧlu, G.en_US
dc.date.accessioned2016-02-08T10:18:47Z
dc.date.available2016-02-08T10:18:47Z
dc.date.issued2006en_US
dc.identifier.issn0003-6846
dc.identifier.urihttp://hdl.handle.net/11693/23763
dc.description.abstractThe reported study has two purposes: first, it attempts to improve the literature on foreign exchange interventions of the central banks for the emerging market economies, an area not previously studied in detail. The Turkish economy in the post-crisis period constitutes a good example in this context. Second, it proposes a new methodology, a time-varying parameter model, to analyse the effectiveness of the foreign exchange interventions. When the results from such an exercise are compared with those obtained from an event-study analysis, it is found that purchase-based interventions seem to be successful, especially after stabilization of the financial markets. In that sense, an asymmetry is detected regarding the effectiveness of interventions. Concerning the relationship between interest rates and exchange rates, it is found that the uncovered interest rate parity condition operates in an unconventional way, supporting the views put forward by recent emerging markets literature. © 2006 Taylor & Francis.en_US
dc.language.isoEnglishen_US
dc.source.titleApplied Economicsen_US
dc.relation.isversionofhttp://dx.doi.org/10.1080/00036840500392995en_US
dc.subjectCentral banken_US
dc.subjectExchange rateen_US
dc.subjectFinancial marketen_US
dc.subjectMarket conditionsen_US
dc.subjectModelen_US
dc.titleThe effectiveness of foreign exchange interventions under a floating exchange rate regime for the Turkish economy: a post-crisis period analysisen_US
dc.typeArticleen_US
dc.departmentDepartment of Economicsen_US
dc.citation.spage1371en_US
dc.citation.epage1388en_US
dc.citation.volumeNumber38en_US
dc.citation.issueNumber12en_US
dc.identifier.doi10.1080/00036840500392995en_US
dc.publisherRoutledgeen_US
dc.identifier.eissn1466-4283


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