The Effects of Additional Monetary Tightening on Exchange Rates

Since the global financial crisis, Central Banks have used various policy tools to sustain financial stability besides price stability. Additional Monetary Tightening is one of these tools that the Central Bank of the Republic of Turkey used in 2011-2012. The effects of this tool on the exchange rate are the main theme of this paper. Our analysis indicates that additional monetary tightening has a significant role in reducing volatility in the exchange rate. It is also shown that during the days of additional tightening Turkish Lira appreciated against the emerging market currencies.

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Year of publication:	2013-02
Authors:	Ermişoğlu, Ergun ; Akçelik, Yasin ; Oduncu, Arif ; Taşkın, Temel

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Ermişoğlu, Ergun and Akçelik, Yasin and Oduncu, Arif and Taşkın, Temel (2013): The Effects of Additional Monetary Tightening on Exchange Rates.
Classification:	C12 - Hypothesis Testing ; c58 ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	BASE

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