Keller, Christian; Kunzel, Peter; Souto, Marcos - International Monetary Fund (IMF) - 2007
crisis have improved Turkey's overall sovereign risk profile. Nonetheless, the country remains subject to bouts of volatility …, as evidenced most recently in the May/June 2006 market turbulence. This paper examines these changes in Turkey's risk … profile using the Contingent Claims Approach (CCA), to quantify the evolution of Turkey's sovereign risk, relate risk …