In this study, by using a panel data of Turkish banks, we empirically analyze whether monetary policies that are able to manipulate liquidity positions of banks can affect bank lending. Our results suggest that bank specific liquidity is important in credit supply. Moreover, in determining their...

[EN] Non-financial companies in Turkey have a significant amount of foreign currency (FX) denominated debt on aggregate. Macro figures suggest that corporate sector is in substantial short position in terms of FX debt, implying a significant currency risk. This note tends to explore this risk...

[TR] Bu notta belirsizlik ile firmalarin yatirim beklentileri arasindaki iliski Iktisadi Yonelim Anketi (IYA) verileri kullanilarak incelenmektedir. Firmalarin yatirim kararlarini verirken icinde bulundugu belirsizlik, IYA’ya verdikleri cevaplardan elde edilen uretim hacmi beklenti hatalarinin...

This paper presents wage curves for formal and informal workers using a rich individual level data for Turkey over the period 2005-2009. The wage curve is an empirical regularity describing a negative relationship between regional unemployment rates and individuals' real wages. While this...

We analyze business cycle implications of oil price uncertainty in an oil-importing small open economy, where oil is used for both consumption and production. In our framework, higher volatility in oil prices works through two main channels. On the one hand, it makes the marginal product of...

In this paper, we produce short term forecasts for the inflation in Turkey, using a large number of econometric models. In particular, we employ univariate models, decomposition based approaches (both in frequency and time domain), a Phillips curve motivated time varying parameter model, a suite...

The aim of this study is to analyze the relationship between uncertainty and economic activity. For this purpose, we use a confidential firm level panel data set (Business Tendency Survey) from Turkey to form three uncertainty measures, namely total, idiosyncratic and aggregate uncertainty. In...

[TR] Bu notta belirsizlik ile iktisadi faaliyet arasindaki iliski Iktisadi Yonelim Anketi (IYA) verileri kullanilarak incelenmektedir. Firmalarin uretim hacmi gerceklesmesi sorusuna verdikleri yanitlar, ayni doneme iliskin beklenti sorusuna verdikleri cevaplarla karsilastirilmis ve gozlenen...

Using individual level data from Turkstat Household Labor Force Survey for 2005-2009 period, we analyze whether there is a wage gap between formal and informal workers with comparable observable characteristics, where the formality of employment is defined with respect to individuals' registry...

This paper analyzes how forming a monetary union affects consumption and earnings inequalities caused by adopting a common currency. We use a two country overlapping-generations model to investigate these effects. When countries choose to form a monetary union, the country with higher initial...