The financial stability's effects on the monetary policy transmission mechanisms are investigated. Specifically, the heteroskedasticity of the errors is exploited, in a MGARCH, to obtain endogenously estimated measures of uncertainty. A two steps estimator of a Multivariate GARCH-in-mean model...

The financial stability's effects on the monetary policy transmission mechanisms are investigated. Specifically, the heteroskedasticity of the errors is exploited, in a MGARCH, to obtain endogenously estimated measures of uncertainty. A two steps estimator of a Multivariate GARCH-in-mean model...

The financial stability's effects on the monetary policy transmission mechanisms are investigated. Specifically, the heteroskedasticity of the errors is exploited, in a MGARCH, to obtain endogenously estimated measures of uncertainty. A two steps estimator of a Multivariate GARCH-in-mean model...

We establish that the Turkish economy underwent a remarkable transformation during the last decade. We identify the underpinnings of this successful transformation as well as the inadequate policies that enabled vulnerabilities to accumulate. Despite improvement in the economic fundamentals,...

In this paper, we investigate the interrelations among Turkish interest rates with different maturities by using a regime switching Vector Error Correction (VECM) model. We find a long run equilibrium relationship among interest rates with various maturities. Furthermore we conclude that term...

We investigate whether trade has any effect on the price formation process in a specific electricity market, and identify interconnected markets that have higher impacts on prices in that market. In particular, we study Ontario wholesale electricity market and its trade with 12 interconnected...

The estimated e¡èects of distance in empirical international trade regressions are unrealistically high. Using state-and-sector level U.S. exports data, this paper shows analytically and proves empirically that ignoring the internal location of production (of international exports), which...

This paper investigates whether the elasticity of demand systematically changes from one importer country to another in an international trade context. Evidence from U.S. exports supports this view by suggesting that the elasticity of demand in an importer country among the products purchased...

This paper investigates the relationship between relative price variability (RPV) and inflation using monthly micro price data for 128 goods in 13 Turkish regions/cities for the period 1994-2010. The unique feature of this data set is the inclusion of annual inflation rates ranging between 0%...

We use network centrality measures to capture the trade partner diversification (TPD) of countries as revealed by their position in the international trade network. These measures are shown to enter long-run growth regressions positively and significantly, on top of trade openness and other...