IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Turkiye’de Para Politikasinin Aktarimi:Para Politikasinin Mali Piyasalara Etkisi

  • Zelal Aktas
  • Harun Alp
  • Refet Gurkaynak
  • Mehtap Kesriyeli
  • Musa Orak

Bu calismada, para politikasi kararlarinin piyasalar tarafindan beklenen ve beklenmeyen kisimlari ayristirilarak, Merkez Bankasi’nin faiz kararlarinin finansal piyasalardaki goreli uzun vadeli faiz oranlari ve IMKB-100, IMKB-Mali, doviz kuru, risk primi gibi degiskenler uzerindeki etkisi incelenmistir. Elde edilen bulgular, politika faizi degisikliklerinin mali piyasalarda, ozellikle tahvil-bono faizleri uzerinde, etkili oldugunu gostermektedir. Ote yandan, hisse senedi fiyatlarinin para politikasi surprizlerine istatistiksel olarak anlamli bir tepki vermedikleri, doviz kuru tepkisinin ise kucuk oldugu bulunmaktadir. Dolayisiyla, para politikasi aktarim mekanizmasinin faiz kanalinin, temel olarak, piyasa faizleri araciligiyla etkili oldugu ortaya cikmaktadir.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.tcmb.gov.tr/wps/wcm/connect/07b76cc2-29c9-42b7-a58f-c642e553918e/WP0811.pdf?MOD=AJPERES&CACHEID=07b76cc2-29c9-42b7-a58f-c642e553918e
Download Restriction: no

Paper provided by Research and Monetary Policy Department, Central Bank of the Republic of Turkey in its series Working Papers with number 0811.

as
in new window

Length:
Date of creation: 2008
Date of revision:
Handle: RePEc:tcb:wpaper:0811
Contact details of provider: Postal: Head Office, Istiklal Cad. 10 Ulus, 06100 Ankara
Phone: (90 312) 507 5000
Fax: (90 312) 507 5640
Web page: http://www.tcmb.gov.trEmail:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Refet S. Gürkaynak & Brian Sack & Eric Swanson, 2002. "Market-based measures of monetary policy expectations," Finance and Economics Discussion Series 2002-40, Board of Governors of the Federal Reserve System (U.S.).
  2. Ozge Akinci & Burcu Gurcihan & Refet Gurkaynak & Ozgur Ozel, 2006. "Devlet Ic Borclanma Senetleri Icin Getiri Egrisi Tahmini," Working Papers 0608, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
  3. Kenneth N. Kuttner, 2000. "Monetary policy surprises and interest rates: evidence from the Fed funds futures markets," Staff Reports 99, Federal Reserve Bank of New York.
  4. Refet S. Gürkaynak & Brian Sack & Eric Swanson, 2005. "The Sensitivity of Long-Term Interest Rates to Economic News: Evidence and Implications for Macroeconomic Models," American Economic Review, American Economic Association, vol. 95(1), pages 425-436, March.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:tcb:wpaper:0811. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ozlem Ekmekciler Ramalho Rocha)

or (Ilker Cakar)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.