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...

This study aims at computing effective tax rates on consumption, household income, labour income and capital income for the Turkish economy from the viewpoints of the methods developed by Mendoza et al (1994) and Carey and Rabesona (2002) using national income accounts and tax revenue statistics...