An f-percent filter rule in a foreign exchange market calls for buying a foreign currency when its price has risen by f percent above a trough and holding until its price has fallen f percent from a peak. If the foreign exchange rate following a random walk, this is an unprofitable strategy....

Artículo de revista ; The residential real estate market has been affected by the COVID-19 pandemic, which broke out at a time when the cycle of this market was in a mature phase. Activity fell off sharply in the early months of the health crisis, owing to the effect of the restrictions...

Artículo de revista ; As in other countries, the effect of the pandemic and the global recession on the Turkish economy was mitigated by the fiscal, financial and monetary support implemented by the country’s authorities. In fact, Turkey was one of the few economies of significant size to...

Artículo de revista ; In 2021, the Turkish economy continued to be highly influenced by the course of the COVID-19 pandemic. Turkey has been more dynamic than other emerging economies since the start of the pandemic, but faces a number of macro-financial challenges as a result of imbalances...

Modern societies have failed to find affordable ways to fund needed infrastructure. Problems have multiplied from ignoring the particular characteristics of infrastructure and assuming the adequacy of the conventional finance of recent times, be this publicly or privately sourced. These...

Although higher commodity prices are commonly thought to presage higher rates of inflation, the existing literature suggests that the predictive power of commodity prices for inflation has waned since the 1980s. In the first chapter, I show that this result can be overturned using...

This dissertation consists of three largely independent essays. The first finds a significant correlation between the price of crude oil and significant terrorist attacks by groups of Middle Eastern origin against Western nations. In particular, such terrorist attacks are considerably more...

Uma avaliação empírica da existência de racionamento de crédito, segundo Stiglitz e Weiss (1981), requer o estudo do impacto da política monetária sobre o mercado de crédito, em especial sobre a taxa de juros dos empréstimos. Desta forma, o objetivo deste artigo é analisar as...

In this dissertation, I present five dynamic general equilibrium models. The distinguishing feature of these models is that they incorporate reciprocal altruistic behavior into an otherwise standard New Keynesian framework. In particular, I extend the New Keynesian model such that the assumed...

The thesis analyzes monetary and labor policies under different market frictions. In the first part several versions of a microfounded dynamic general equilibrium model with monopolistic competitors in the product and/or labor market are derived and simulated. First of all, the monetary...