Working Papers

From Research and Monetary Policy Department, Central Bank of the Republic of Turkey
Contact information at EDIRC.
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2504: We Are Different: The Drivers of Asset Quality in Loan Type and Sectoral Breakdowns

Mehmet Selman Colak, Yavuz Kilic, Huseyin Ozturk and Mehmet Emre Samci

2503: Propagation of Foreign Trade Shocks through Domestic Supply Chain Networks: Evidence from Turkish Firms

Ahmet Duhan Yassa and Kamil Yilmaz

2502: Monetary and Environmental Policy in a Heterogeneous Agent Model

Burcu Gürcihan

2501: Market Concentration and Firm Markups: Micro Evidence from an Emerging Market with Inflationary Pressures

Mehmet Selman Colak, Abdullah Kazdal, Ünal Seven and Muhammed Hasan Yilmaz

2414: Zombie Firms in Network: Congestion and Evergreening

Okan Akarsu, Emrehan Aktug and Huzeyfe Torun

2413: The Good, the Better and the Challenging:Insights into Predicting High-Growth Firms using Machine Learning

Sermet Pekin and Aykut Sengul

2412: Climate Anomalies and Inflationary Pressures: Evidence from Turkiye

Ufuk Can, Oguzhan Cepni, Abdullah Kazdal and Muhammed Hasan Yilmaz

2411: Boon or Bane? The Impact of Loan Supply and Demand Shocks on Loan Price Dispersion

Salih Zeki Atilgan, Tarik Aydogdu, Huseyin Ozturk and Muhammed Hasan Yilmaz

2410: Demand-and Supply-Driven Inflation Decomposition in Turkiye

Okan Akarsu and Emrehan Aktug

2409: A Panorama of Liquidity Creation in Turkish Banking Industry: Highlights, Predictors and Consequences

Mehmet Selman Colak, Mahmut Bora Deniz, Sumeyra Korkmaz and Muhammed Hasan Yilmaz

2408: Blended Finance and Female Entrepreneurship

Halil Ibrahim Aydin, Cagatay Bircan and Ralph De Haas

2407: Heterogeneity and Nonlinearity in the Relationship between Rediscount Credits and Firm Exports

Okan Akarsu, Altan Aldan and Huzeyfe Torun

2406: Taming Corporate Sector Currency Mismatches: Reflections from a Quasi-Natural (Macroprudential) Experiment

Tanju Capacioglu and Hakan Kara

2405: Bank Loan Maturity and Corporate Investment

Burak Deniz and Ibrahim Yarba

2404: Profit Margins and Cost Pass-Through in Türkiye

H. Burcu Gurcihan Yunculer and Cagri Sarikaya

2403: Funding Quality and the Pricing of Retail Rates: Evidence from the Turkish Banking Sector

Koray Alper and Tanju Capacioglu

2402: Anticipating Credit Developments with Regularization and Shrinkage Methods: Evidence for Turkish Banking Industry

Salih Zeki Atilgan, Tarik Aydogdu, Mehmet Selman Colak and Muhammed Hasan Yilmaz

2401: Urban Sprawl and Fuel Consumption in Post-Earthquake Period: A Quasi-Experimental Evidence

Ahmet Duhan Yassa

2309: The Impact of Negative Income Shocks on the Relative Prices of Private Label Products: The Covid-19 Episode

Serdar Yurek

2308: Effects of Emerging Markets’ Asset Purchase Programs on Financial Markets

Irfan Cercil and Cem Ali Gökcen

2307: Do Subsidized Export Credits Affect Firms’ Behavior in the FX Market? Micro Evidence from Türkiye

Ünal Seven and Ertan Tok

2306: Building a Financial Constraint Index for Türkiye

Hatice Gökce Karasoy Can and Evren Erdogan Cosar

2305: Imported Input Content of Production and Real Exchange Rate Elasticity of Exports: The Case of Türkiye

Demirhan Demir, Selcuk Gul and Abdullah Kazdal

2304: State-Dependency in Price Adjustments: Evidence from Large Shocks

Elif Feyza Özcan Kodaz and Serdar Yürek

2303: Impact of Easing Restrictions on Restaurant Inflation: Normalization Processes in Türkiye during COVID-19

Ceren Eldemir and Serdar Yurek

2302: Impact of the Additional 6-Point Regional Insurance Premium Subsidy on Employment and Formality

Muhammet Enes Çirakli

2301: Entrepreneur Education and Firm Credit Outcomes

Yusuf Emre Akgunduz, Abdurrahman Aydemir and Halil Ibrahim Aydin

2203: Is Corporate Indebtedness a Drag on Investment After Financial Shocks?

Ibrahim Yarba

2202: Financial Literacy and Cash Holdings in Turkey

Mustafa Recep Bilici and Saygin Cevik

2201: Central Bank of the Republic of Turkey Household Finance and Consumption Survey Methodology

Gianni Betti, Evren Ceritoğlu, Muserref Kucukbayrak and Ozlem Sevinc

2139: Estimating Time-Varying Potential Output and NAIRU Using a Multivariate Filter for Turkey

Mert Gökcü

2138: Time-Varying Relationship Between Exports and Real Exchange Rate in Turkey: A Recent Analysis at Sectoral Level

Selcuk Gul and Abdullah Kazdal

2137: Direct Investments and Current Account Balance: A Sectoral Overview

Kazim Azim Ozdemir, Ahmet Adnan Eken and Didem Yazici

2136: Sunk Cost Hysteresis in Turkish Manufacturing Exports

Kurmaş Akdoğan and Laura Werner

2135: The Determinants of Consumer Cash Usage in Turkey

Saygin Cevik and Dilan Teber

2134: Consumer Loan Rate Dispersion and the Role of Competition: Evidence from the Turkish Banking Sector

Selva Bahar Baziki, Yavuz Kilic and Muhammed Hasan Yilmaz

2133: Bank Loan Network in Turkey

Ayca Topaloglu Bozkurt and Suheyla Ozyildirim

2132: Financial constraints and productivity growth: firm-level evidence from a large emerging economy

Yusuf Bağır and Ünal Seven

2131: Corporate Indebtedness and Investment: Micro Evidence of an Inverted U-Shape

Ibrahim Yarba

2130: Price transmission along the Turkish poultry and beef supply chains

Mehmet Guncavdi, Murat Kors and Elif Ozcan Tok

2129: Energy Efficiency, Renewable Energy and Current Account Balance: Econometric Findings and Scenario Analysis for Turkey

H. Emre Yalcin and Cihan Yalcin

2128: Non-linear effects of fiscal stimulus on fiscal sustainability Indicators in Turkey

Cem Cebi and K. Azim Ozdemir

2127: A Reversal in the Global Decline of the Labor Share?

Selen Andic and Michael Burda

2126: Deviations from Covered Interest Parity in the Emerging Markets After the 2008 Global Financial Crisis

Utku Geyikçi and SuheyLa Ozyildirim

2125: Density and Allocative Efficiency in Turkish Manufacturing

Orhun Sevinc

2124: How do banks propagate economic shocks?

Yusuf Emre Akgunduz, Seyit Cilasun, H. Ozlem Dursun-de Neef, Yavuz Selim Hacihasanoglu and Ibrahim Yarba

2123: Loan-to-Value Caps, Bank Lending, and Spillover to General-Purpose Loans

Selva Bahar Baziki and Tanju Capacioglu

2122: Cross-border Transactions and Network Analysis: Evidence from Turkey

Tuba Pelin Sumer and Suheyla Ozyildirim

2121: How do Real and Monetary Integrations Affect Inflation Dynamics in Turkey?

Hulya Saygili

2120: Macroprudential Policies, Credit Guarantee Schemes and Commercial Loans: Lending Decisions of Banks

Selva Bahar Baziki and Tanju Capacioglu