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Kuresel Finansal Kriz Doneminde Para Politikasi Kurulu Kararlarinin Piyasa Getirileri Uzerindeki Etkisi

Listed author(s):
  • H. Burcu Gurcihan
  • Ozgur Ozel

Merkez Bankasi, kuresel finansal krizin etkilerinin hissedilmeye baslandigi 2008 yili ucuncu ceyreginden itibaren Banka bunyesindeki Bankalararasi Para Piyasasi ve Istanbul Menkul Kiymetler Borsasi (IMKB) Repo–Ters Repo Pazari’nda uygulanmakta olan kisa vadeli faizlerde bir yil icinde 1025 baz puan indirim gerceklestirmistir. Bu calismada, soz konusu donemde, 1-2 yil vadeli devlet ic borclanma senedi getirilerinin, faiz kararlarindaki surpriz bilesene verdikleri tepkiler incelenmektedir. Politika faizindeki indirimlerin devlet ic borclanma senedi getirileri uzerinde etkili oldugu, dolayisiyla kriz doneminde, parasal aktarim mekanizmasi faiz kanalinda merkez bankasi faizlerinden piyasa getirilerine olan geciskenligin etkin oldugu gozlenmistir.

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Paper provided by Research and Monetary Policy Department, Central Bank of the Republic of Turkey in its series CBT Research Notes in Economics with number 1010.

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Date of creation: 2010
Handle: RePEc:tcb:econot:1010
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  1. Zelal AKTAŞ & Harun ALP & Refet GÜRKAYNAK & Mehtap KESRİYELİ & Musa ORAK, 2009. "Türkiye'de para politikasının aktarımı: Para politikasının mali piyasalara etkisi," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 24(278), pages 9-24.
  2. Özge AKINCI & Burcu GÜRCİHAN & Refet GÜRKAYNAK & Özgür ÖZEL, 2007. "Devlet iç borçlanma senetleri için getiri eğrisi tahmini," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 22(252), pages 5-25.
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