Bu calismada gecelik kur takasi faizleri ile BIST Repo-Ters Repo Pazari’ndaki gecelik repo faizleri arasindaki iliski incelenmektedir. Soz konusu faizlerin Turkiye’de para politikasinin aktarim mekanizmasi icerisinde onemli bir yere sahip olmasi sebebiyle iki piyasa arasindaki iliskinin...

This paper aims to serve two purposes. First, we provide information on the Turkish lira (TL) corporate bond market, which has developed rapidly in the last couple of years. Second and more prominently, we estimate the yield curve for corporate bonds in Turkey using the Nelson Siegel...

Cross currency swaps are agreements to exchange interest payments and principals denominated in two different currencies and usually have one leg fixed and the other floating. The interest rate on the fixed leg is closely related to the yields on the securities of the same tenure and currency....

Turkiye’de yurtici tasarruf orani son yillarda belirgin bir dusus gostermistir. Soz konusu dusus tasarruf-yatirim aciginin buyumesinde dolayisiyla yuksek cari islemler aciginin ortaya cikmasinda etkili olmaktadir. Bu cercevede, hanehalki tasarruflarini artirmaya yonelik olarak Bireysel...

Piyasa katilimcilarinin faiz beklentilerini yansitan getiri egrisinin tahmini mali analizin temel taslarindandir. Bu makalede getiri egrilerinin temel ozelliklerini tanitip, bilgimiz dahilinde ilk defa, Turkiye için uzun vadeli sabit kuponlu bonolarin da tahmine dahil edildigi yuksek frekansta...

The objective of this paper is to study the changes in the monetary policy transmission mechanism in Turkey. The analysis hinges upon both qualitative and quantitative evidence regarding various channels of monetary policy transmission. The arguments about the extent of the exchange rate,...

The Turkish government started an employment subsidy program in 2008 to generate new employment for younger men and all women, which are the relatively disadvantaged groups in the Turkish labor market. In this paper, we use a nationally representative micro-level dataset and a...

This paper examines the roles of bank capital regulation and monetary policy in mitigating procyclicality and promoting macroeconomic and financial stability. The analysis is based on a dynamic stochastic model with imperfect credit markets. Macroeconomic stability is defined in terms of a...

The empirical analysis confirms that household expectations have a direct role on their consumption and saving behaviour in addition to their indirect influence through the income channel. The econometric results show that there is a positive and statistically significant relationship between...

Turkey has the lowest hours worked (the product of total employment and annual hours per worker, divided by the size of the working-age population) among the OECD countries. We study the changes in hours of work following Ohanian, Raffo, and Rogerson (Journal of Monetary Economics, 2008) and...