The devastating earthquake that struck the most densely populated and industrialized area of Turkey on August 17, 1999 was one of the most damaging natural disasters during this century. This paper is a first attempt to estimate the transition path of the Turkish economy to its new equilibrium...

The devastating earthquake that struck the most densely populated and industrialized area of Turkey on 17 August, 1999 was one of the most damaging natural disasters during this century. This paper is a first attempt to estimate the transition path of the Turkish economy to its new equilibrium...

The paper states that economic growth is picking up in Turkey and the economy is on the road to recovery. It concludes that it is up to the Turkish policy makers to make sure that the countryu0092s economy will leave its grave problems behind and enjoy a bright future. Despite the recent...

Daily stock market volatility in a sample of emerging market economies is investigated utilizing an asymmetric stochastic volatility (ASV) model which is estimated with Markov Chain Monte Carlo (MCMC) method. The results indicate that the ASV model captures the volatility dynamics in those stock...

Conventional time series analysis, focusing exclusively on a time series at a given scale, lacks the ability to explain the nature of the data-generating process. A process equation that successfully explains daily price changes, for example, is unable to characterize the nature of hourly price...

Conventional time series analysis, focusing exclusively on a time series at a given scale, lacks the ability to explain the nature of the data generating process. A process equation that successfully explains daily price changes, for example, is unable to characterize the nature of hourly price...

Conventional time series analysis, focusing exclusively on a time series at a given scale, lacks the ability to explain the nature of the data generating process. A process equation that successfully explains daily price changes, for example, is unable to characterize the nature of hourly price...

Fundamental spot exchange rate models preclude the existence of asymmetric information in foreign exchange markets. This article critically investigates the possibility that private information arises in the spot foreign exchange market. Using a rich dataset, we first empirically detect...