In this paper, we investigate the interrelations among Turkish interest rates with different maturities by using a regime switching Vector Error Correction (VECM) model. We find a long run equilibrium relationship among interest rates with various maturities. Furthermore we conclude that term...

Expectations of inflation play a critical role in the process of price setting in the market. Central banks closely follow developments in inflation expectations to implement a successful monetary policy. The Central Bank of the Republic of Turkey (CBRT) conducts a survey of experts and decision...

The financial stability's effects on the monetary policy transmission mechanisms are investigated. Specifically, the heteroskedasticity of the errors is exploited, in a MGARCH, to obtain endogenously estimated measures of uncertainty. A two steps estimator of a Multivariate GARCH-in-mean model...

The financial stability's effects on the monetary policy transmission mechanisms are investigated. Specifically, the heteroskedasticity of the errors is exploited, in a MGARCH, to obtain endogenously estimated measures of uncertainty. A two steps estimator of a Multivariate GARCH-in-mean model...

The financial stability's effects on the monetary policy transmission mechanisms are investigated. Specifically, the heteroskedasticity of the errors is exploited, in a MGARCH, to obtain endogenously estimated measures of uncertainty. A two steps estimator of a Multivariate GARCH-in-mean model...

We establish that the Turkish economy underwent a remarkable transformation during the last decade. We identify the underpinnings of this successful transformation as well as the inadequate policies that enabled vulnerabilities to accumulate. Despite improvement in the economic fundamentals,...

In this paper, we investigate the interrelations among Turkish interest rates with different maturities by using a regime switching Vector Error Correction (VECM) model. We find a long run equilibrium relationship among interest rates with various maturities. Furthermore we conclude that term...

We investigate whether trade has any effect on the price formation process in a specific electricity market, and identify interconnected markets that have higher impacts on prices in that market. In particular, we study Ontario wholesale electricity market and its trade with 12 interconnected...