Bu calismada TCMB para politikasi ile ilgili beklentilerin sermaye piyasalari uzerindeki etkisi incelenmektedir. Etkin piyasa hipotezinin (“efficient market hypothesis”) gecerli olmasi durumunda merkez bankasi tarafindan yapilan faiz karari aciklamasini takiben sermaye piyasalarinin sadece...

This article examines the extent of contagion and interdependence across the East Asian equity markets since early 1990s and compares the ongoing crisis with earlier episodes. Using the forecast error variance decomposition from a vector autoregression, we derive return and volatility spillover...

We provide a simple and intuitive measure of interdependence of asset returns and/or volatilities. In particular, we formulate and examine precise and separate measures of return spillovers and volatility spillovers. Our framework facilitates study of both non-crisis and crisis episodes,...

We provide a simple and intuitive measure of interdependence of asset returns and/or volatilities. In particular, we formulate and examine precise and separate measures of "return spillovers" and "volatility spillovers". Our framework facilitates study of both non-crisis and crisis episodes,...

We provide a simple and intuitive measure of interdependence of asset returns and/or volatilities. In particular, we formulate and examine precise and separate measures of return spillovers and volatility spillovers. Our framework facilitates study of both non-crisis and crisis episodes,...

Bu çalismada Türkiye imalat sanayiinde üretkenlik dinamikleri isyeri düzeyindeki veriler kullanilarak 1983-2001 dönemi için analiz edilmistir. Her yil yaklasik 10,000 isyerine ait detayli veriler kullanilarak ISIC (Rev. 2) 4-hane düzeyindeki sanayiler için stokastik üretim sinirlari...

The authors present evidence that with its emphasis on wide-share-ownership the British privatization program created heavy involvement of small investors in privatized stocks. Using standard market efficiency tests and maximum likelihood estimates of stationary fractional ARIMA models, they...

This paper extends the partial (PE) and general equilibrium (GE) analyses of Nash and Stackelberg optimum export taxes to a multicountry framework, using a computable general equilibrium (CGE) model of the global cocoa market. There are several results to report. First, depending on the leader's...