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, instead of the current fiscal policies, then the Turkish economy attains a lower budget deficit, inflation and interest rates …
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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...
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calculate a reference growth rate for M2Y that is consistent with the inflation targets set by the Central Bank of Turkey. At …
Persistent link: https://www.econbiz.de/10008478278
This study aims to determine whether the traditional or portfolio approach is relevant for developing countries, by using the relationship between stock prices and exchange rates. For this purpose, cointegration (Pesaran et al., 2001) and causality tests (Toda Yamamoto, 1995) are used to examine...
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