[TR] Bu notta belirsizlik ile firmalarin yatirim beklentileri arasindaki iliski Iktisadi Yonelim Anketi (IYA) verileri kullanilarak incelenmektedir. Firmalarin yatirim kararlarini verirken icinde bulundugu belirsizlik, IYA’ya verdikleri cevaplardan elde edilen uretim hacmi beklenti hatalarinin...

[EN] This note analyses how selected financial and macroeconomic indicators of emerging economies upgraded to “Investment grade” in the period between 1990 and 2011 behave before and after the upgrade. Results reveal that upgraded countries experience capital inflows through both portfolio...

[TR] Bu notta, kuresel finansal kriz sonrasinda gelismis ulkelerce yurutulen genisletici para politikalarinin gelismekte olan ulkelere sermaye akimlarini portfoy tercihi ayriminda nasil etkiledigi incelenmekte ve portfoy akimlarini belirleyen faktorler arastirilmaktadir. Soz konusu politikalar...

Economic policies focusing on macro-financial risks in Turkey attribute special emphasis on current account developments. In this context, quantifying the role of cyclical factors in driving current account deficit is crucial for the design of an appropriate policy response against current...

[TR] Akim kredi verileri, kredilerin donemsel dinamiklerini daha net ortaya koyabilmektedir. Bu dogrultuda, bu calismada 2007c1-2012c2 doneminde akim tuketici kredilerinin farkli ozellikleri incelenmistir. Calisma, yeni acilan tuketici kredilerinin toplam tuketimle olan iliskisi acisindan, akim...

[EN] This note aims to serve two purposes. First, it evaluates the ability of various financial market instruments to capture market expectations on short-term rate. Second, it utilizes an alternative approach to obtain estimates of term premium inherent in alternative returns. Empirical results...

[EN] In this note, we analyze the role of idiosyncratic sectoral shocks on aggregate fluctuations. Sectors are connected with each other through intermediate input use. Productivity shock to a supplier may be transmitted directly to immediate users’ of the intermediate goods and indirectly to...

[EN] The Central Bank of the Republic of Turkey has started to implement its new policy mix since late 2010. In this new approach expectations, credit growth and reel exchange rate are monitored closely as key indicators for financial stability on top of price stability. The effect of this new...

[TR] Turkiye’de yurtici tasarruf orani son yillarda belirgin bir dusus gostermistir. Soz konusu dusus tasarruf-yatirim aciginin buyumesinde dolayisiyla yuksek cari islemler aciginin ortaya cikmasinda etkili olmustur. Bu cercevede, soz konusu acigi dusurmek uzere hanehalki tasarruflarini...

[TR] Bu notla, bankacilik sistemi Turk Lirasi (TL) fonlama ihtiyaci ana kalemlerindeki gelismelerin, TL tuketici ve ticari kredi degisimlerine ne sekilde etki ettigi degerlendirilmektedir. Bulgular, sistemin fonlama ihtiyacinda TL zorunlu karsilik tutari disinda gerceklesen artislarin TL...