In this study, we try to uncover the information capacity of the Purchasing Managers Index (PMI) as a leading indicator of GDP growth of euro area. Our results show that PMI carries a significant amount of information that can be used to forecast the growth rate in the current as well as...

This study assesses the effect of USD-Euro parity on a small open economy where exports are predominantly denominated in Euros and imports are denominated in USD. Empirical evidence from Turkey suggests that a positive change in the USD value of the Euro appreciates the local currency, decreases...

The composition of bank liabilities has captured a lot of attention especially after the global financial crisis. It is argued that movements particularly in the non-core liabilities may reflect the stage of financial cycle. The literature claims that banks usually fund their credits with core...

In this study, non-parametric kernel estimation technique has been employed to estimate import and export price elasticities for six developed countries. Based on the estimates of these elasticities Marshall-Lerner condition has been examined. In general the condition is only partially satisfied...

[TR] Merkez bankalarinin politika tepkilerinin enflasyon disi degiskenlerle bagintili bir gorunum arz etmesi kuresel kriz doneminde dikkat ceken bir gelisme olmustur. Enflasyon hedeflemesi rejimini benimsemis gelismekte olan ulkeleri inceleyen bu calisma, faiz kararlari ile enflasyon disi...