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dc.contributor.authorDemiralp, Selvaen
dc.contributor.authorYilmaz, Kamilen
dc.date.accessioned2010-11-03-
dc.date.accessioned2011-05-09T09:34:30Z-
dc.date.available2011-05-09T09:34:30Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/45423-
dc.language.isoturen
dc.publisher|aTÜSİAD-Koç University Economic Research Forum |cIstanbulen
dc.relation.ispartofseries|aWorking Paper |x1008en
dc.subject.jelE44en
dc.subject.jelE52en
dc.subject.ddc330en
dc.subject.keywordMonetary policyen
dc.subject.keywordExpectations surveyen
dc.subject.keywordFinancial Marketsen
dc.subject.stwGeldpolitiken
dc.subject.stwTransmissionsmechanismusen
dc.subject.stwEffizienzmarkttheseen
dc.subject.stwTürkeien
dc.titlePara politikası beklentilerinin sermaye piyasaları üzerindeki etkisi-
dc.typeWorking Paperen
dc.identifier.ppn638351448en
dc.description.abstracttransIn 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.-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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