Türkiye’de piyasa göstergelerinden para politikası beklentilerinin ölçülmesi
Author
Alp, H.
Kara, H.
Keleş, G.
Gürkaynak, R.
Orak, M.
Date
2010Source Title
İktisat İşletme ve Finans
Print ISSN
1300-610X
Electronic ISSN
1308-4658
Publisher
BİLGESEL Yayıncılık San. ve Tic. Ltd. Şti.
Volume
25
Issue
295
Pages
21 - 45
Language
English
Type
ArticleItem Usage Stats
105
views
views
95
downloads
downloads
Metadata
Show full item recordAbstract
This paper compares the ability of different market instruments in terms of predicting monetary policy decisions to find out which one best captures market participants’ policy expectations. Towards this end, policy rate expectations implied by various market instruments and different approaches are derived for the period between July 2006 and October 2009. Empirical results show that market based monetary policy expectations in Turkey can most successfully be obtained by using the one week Turkish Lira Interbank Bid Rate (TRLIBID).