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-i Efkar and Vakit, in addition to data of foreign exchange rates and prices in the çIstanbul Bourse, this paper examines how …
Persistent link: https://www.econbiz.de/10011882665
-i Efkar and Vakit, in addition to data of foreign exchange rates and prices in the İstanbul Bourse, this paper examines how …
Persistent link: https://www.econbiz.de/10011673311
In this paper, we investigate the responsiveness of financial markets to monetary policy expectations in Turkey. According to the efficient markets hypothesis, financial markets respond to anticipated policy actions prior to a policy announcement. As a result, they are expected to respond only...
Persistent link: https://www.econbiz.de/10010277263
. However, one of the major problems in estimating the effect of monetary policy on asset prices is the simultaneous response of … policy actions and the asset prices to each other. To overcome this problem, this study applies the heterokedasticity … that an increase in the policy rate leads to a decline in stock prices, especially for the financial sector firms. …
Persistent link: https://www.econbiz.de/10008611029
Since two main principles of the monetary policy are credibility and transparency, central banks aim to develop long-run policies. However, contemporary monetary policy approach requires that central banks are responsible for developing short-run stability policies as well. Within this context,...
Persistent link: https://www.econbiz.de/10008831594
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