Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/83234
Authors: 
Korap, Levent
Year of Publication: 
2006
Series/Report no.: 
Discussion Paper, Turkish Economic Association 2006/4
Abstract: 
In this paper, we investigate the determinants of foreign exchange operations of the CBRT for the post-crisis period. Using modern time series econometrics, we try to analyze the different characteristics of FOREX market, and based on the estimation results, indicate the degree of effectiveness of the interventions of monetary authority throughout the implicit inflation targeting framework. The main policy conclusion is that the CBRT interventions seem to be under the control of uncertainties in economic environment, rather than decreasing the volatilities in exchange market, and this case in turn leads the interventions being inefficient.
Document Type: 
Working Paper

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