Duty called and central banks, in response to the global crisis, have risen to a level of preeminence that is presumably unprecedented in modern economic history. The Central Bank of Turkey (CBRT) not only had to go with the flow but also led to some heated debates in the realm of market...

Bu çalışmada, uluslararası iktisat teorilerinde önem taşıyan Satınalma Gücü Paritesi’nin (SGP) Türkiye’de Şubat 2001 sonrası dalgalı kur döneminde geçerliliğinin test edilmesi amaçlanmıştır. Bu amaç doğrultusunda, SGP’nin ana akım yaklaşım olan doğrusal birim...

Feldstein ve Horioka (1980) yaptıkları çalışmada yurtiçi tasarruf-yatırım ve sermaye hareketleri arasındaki ilişkiyi incelemiş; uluslararası sermaye hareketliliğinin olmadığı ülkelerde yurtiçi yatırımların yurtiçi tasarruflarla finanse edileceği, uluslararası sermaye...

This paper analyzes the relationship between exports and real exchange rate (RER) of six Uruguayan export products: beef, leather, dairy, chemical, metallurgical and plastics, selected for their importance in total exports during 1993-2011. We considered the sectoral RER and used the Johansen...

In this article we present evidence of the long-run effect of trade openness on income per worker for two regions that have followed different liberalization strategies, namely Asia and Latin America. A model that re-examines these questions is estimated for two panels of Asian and Latin...

In today, approximately 30% of global service trade consists of tourism sector. International tourism is one of the most important income-generating sector of 83% of world countries. Besides it is caused by reviving other sector which is in a relation, increasing the share of GDP and acquired...

This paper studies the dynamic behavior of stock price index of Karachi Stock Exchange (KSE). We use annual data from 1973-2008 to capture the long run and short run relationships of stock prices with various macroeconomic variables such as real interest rate, investment, money supply and...

A tanulmány az aukciós villamosenergia-tőzsdéken kialakuló óránkénti árak statisztikai jellemzőivel foglalkozik. Célja, hogy egyes legújabb kutatási eredmények alapján új megvilágításban mutassa be a villamos energia óránkénti árára jellemző főbb megállapításokat,...

Statisztikusok és pénzügyi adatelemzők számára jól ismert empirikus tény, hogy a pénzügyi ingadozások természete eltér a klasszikus, normális (Gauss) eloszláson alapuló leírástól. A pénzügyi matematika, illetve az elméleti pénzügyi irodalom mégis paradigmaként kezeli...

A hosszú távú idősorok vizsgálatának legnagyobb hazai úttörője Jánossy Ferenc volt, aki a hatvanas években megalkotta híres trendvonal-elméletét, és ennek segítségével majdnem egy évtizeddel korábban megjósolta a hetvenes évek nagy világgazdasági visszaesését. A...