During the recent era, many emerging market economies have implemented unconventional policy measures to mitigate the effect of large swings in short-term capital flows on domestic business cycles. This paper focuses on a specific unconventional policy tool introduced by the Central Bank of...

Heightened volatility in cross-border capital flows has increased exchange rate volatility across emerging markets as well as in advanced economies, setting the stage for more active management of currencies. Traditionally, foreign exchange rate intervention has been the primary tool to address...

We present and study the properties of a sticky information exchange rate model where consumers and producers update their information sets infrequently. We find that introducing inattentive consumers has important implications. Through a mechanism resembling the limited participation models, we...

Exploring the determinants and dynamics of the current account balance is one of the priorities of academic literature and policy circles. Although the effects of structural variables are deeply analyzed, a lesser attention has been paid to the impact of financial variables. Drawing on standard...

Bu calismanin amaci Turk Imalat Sanayine ait sektorel reel efektif doviz kuru (REK) endekslerini olusturmaktir. Sektorlere ozgu rekabet ve dis ticaret ortaklarinin farklilastigi dusunuldugunde, sektorel endekslerin imalat sanayi butunu icin hesaplanan endekslerden farkli bir seyir izleyerek,...

Rezerv opsiyonu mekanizmasi son dönemde TCMB tarafindan aktif bir politika araci olarak kullanilmaktadir. Rezerv opsiyonu mekanizmasi ile Turk lirasinin oynakligi dusurulebilir ve kredilerin sermaye hareketlerine duyarliligi azaltilabilir. Ayrica rezerv opsiyonu kredi buyumesi uzerinde de TCMB...

Estimating a robust and stable trend is an important challenge for economic analysis. We compare alternative approaches by estimating the cyclical component for the real exchange rate series of Turkey. Comparison criteria is the sensitivity of the estimated cycle to additional data points. A...