The aim of this study is to assess any regularity relative price dispersion for the effect of monetary policy tool selection. Central banks use tools such as interbank rate and exchange rate when pursuing their (monetary) policies. The selected tools affect economic variables differently. By...

This article assesses the effectiveness of a novel macroprudential tool – the reserve option mechanism (ROM) – which Turkey's central bank developed during the post-2008 period and has employed to control the risk associated with excessive capital flows. We assess how capital flows have...