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TÜSİAD-Koç University Economic Research Forum (ERF), Istanbul >
ERF Working Paper Series, TÜSİAD-Koç University Economic Research Forum (ERF) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/45423
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Demiralp, Selva | | en_US |
| dc.contributor.author | | Yilmaz, Kamil | | en_US |
| dc.date.accessioned | | 2010-11-03 | | en_US |
| dc.date.accessioned | | 2011-05-09T09:34:30Z | | - |
| dc.date.available | | 2011-05-09T09:34:30Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/45423 | | - |
| dc.description.abstract | | 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 to the unanticipated component of the interest rate change following the announcement. By measuring monetary policy expectations through surveys conducted by the Central Bank of the Republic of Turkey, we find that the bond market behaves in accordance with the efficient markets hypothesis in Turkey in the 2002-2009 period. Our results suggest that the same is not necessarily true for the stock market. We check the robustness of our results to different survey types in the post-2005 period. | | en_US |
| dc.language.iso | | tur | | en_US |
| dc.publisher | | TÜSİAD-Koç University Economic Research Forum Istanbul | | en_US |
| dc.relation.ispartofseries | | TÜSİAD-Koç University Economic Research Forum working paper series 1008 | | en_US |
| dc.subject.jel | | E44 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Monetary policy | | en_US |
| dc.subject.keyword | | Expectations survey | | en_US |
| dc.subject.keyword | | Financial Markets | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Transmissionsmechanismus | | en_US |
| dc.subject.stw | | Effizienzmarktthese | | en_US |
| dc.subject.stw | | Türkei | | en_US |
| dc.title | | Para politikası beklentilerinin sermaye piyasaları üzerindeki etkisi | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 638351448 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | ERF Working Paper Series, TÜSİAD-Koç University Economic Research Forum (ERF)
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