Classical finance has undergone a major change in recent years. In our modern world, where risk becomes more complex and difficult to calculate, more sophisticated mathematical techniques and products are needed to quantify such new risks. The financial sector should have a solid structure in...

This paper investigates consumer demand, competition and welfare in the Turkish deposit and credit markets in 2002-2009 period by using banks'market shares in these markets. A discrete choice structural demand model developed by Berry (1994) is employed in the estimations. As market shares...

We use a representative survey of the Turkish household sector and investigate the determinants of saving-borrowing decisions. We use the same set of regressors to account for the impact of economic and demographic factors on the choices involved. Thus we run four probit regressions to elucidate...