Turkish economy in the aftermath of the global crisis has faced an unprecedented divergence between domestic and external demand. Increasing risks in the face of surging short-term capital inflows, deteriorating current account deficit and rapid credit growth have called for an alternative...

In this paper, we investigate the responsiveness of financial markets to monetary policy expectations in Turkey. According to the efficient markets hypothesis, financial markets respond to anticipated policy actions prior to a policy announcement. As a result, they are expected to respond only...

In this paper, we investigate the responsiveness of financial markets to monetary policy expectations in Turkey. According to the efficient markets hypothesis, financial markets respond to anticipated policy actions prior to a policy announcement. As a result, they are expected to respond only...

The transmission of policy decisions to financial markets is an integral part of the monetary transmission mechanism. However, one of the major problems in estimating the effect of monetary policy on asset prices is the simultaneous response of policy actions and the asset prices to each other....

Turkish abstract: Bu çalışmada 1996-2006 çeyreklik verileri kullanılarak Keynes'in ikiz açıklar hipotezinin Türkiye ve benzeri ülke grubu için analiz edilmesi amaçlanmaktadır. Bu hipoteze göre, bütçe açıkları ile dış ticaret açıkları arasında pozitif bir ilişki...

In this study monthly equity index values of twenty two emerging and twelve developed markets are used for the determination of cointegration relations developed by Johansen. The results of cointegration analysis show that Turkish stock market is cointegrated with seven developed and five...

The present paper examines the effects of the Customs Union (CU) and Free Trade Agreements (FTAs) on Turkey's extensive and intensive margins. For this purpose, using highly disaggregated product-level data at the six-digit product level of Harmonized System, we first decompose Turkey's export...

The present paper examines the effects of the Customs Union (CU) and Free Trade Agreements (FTAs) on Turkey's extensive and intensive margins. For this purpose, using highly disaggregated product-level data at the six-digit product level of Harmonized System, we first decompose Turkey's export...