Showing 291 - 300 of 355
This paper assesses the effect of federal funds rate innovations on longer-term US nominal interest rates across different periods. The evidence suggests that these responses change with changes in the monetary policy regime. Time periods considered are pre- and post-1979 and different Federal...
Persistent link: https://www.econbiz.de/10012915283
Empirical research of political business cycles (PBCs) may suffer from endogeneity bias when incumbent governments have discretion to call for an early election. Using an instrumental variable (IV) routine on data from Japan and the U. K., we find strong evidence to support the notion that...
Persistent link: https://www.econbiz.de/10012915285
This paper incorporates the effect of the central bank's independence into the government's optimum financing model. When the implications of the hypotheses are tested for eighteen OECD countries, this paper shows that countries with higher levels of central bank independence generate less...
Persistent link: https://www.econbiz.de/10012915287
This paper tests whether the Fisher hypothesis holds for a sample of 26 countries by assessing the long run relationship between nominal interest rates and inflation rates taking into consideration the short run dynamics of interest rates. The empirical evidence supports the hypothesis that...
Persistent link: https://www.econbiz.de/10014112732
Persistent link: https://www.econbiz.de/10014325402
Turkey has had a high level of inflation since the mid-1970s. Governments use various fiscal and monetary policy tools to control inflation. In addition to these tools, governments also attempt to control inflation by regulating the prices of publicly produced goods and services. Governments...
Persistent link: https://www.econbiz.de/10005754242
This paper analyzes possible cointegration relations among the sub-indexes of the Istanbul Stock Exchange series - services sector, industry sector and financial sector - for the period from February 1, 1997 to September 24, 2003. The data is analyzed by using various methods initiated by Engle...
Persistent link: https://www.econbiz.de/10004966133
Persistent link: https://www.econbiz.de/10005792679
This paper assesses the presence of seasonal volatility in price indexes where a similar type of pattern has been reported in asset prices in financial markets. The empirical evidence from Turkey for the monthly period from 1987:01 to 2007:05 suggests the presence of seasonality in the...
Persistent link: https://www.econbiz.de/10013142355
This study examines the dynamics and determinants of inflation in the Ottoman Empire during the 1586-1913 period. There are two possible reasons for inflation: fiscal expansion and monetary expansion, which could be generated through the debasement of local currency (Akce). We used a set of...
Persistent link: https://www.econbiz.de/10005482828