Working Papers

From Research and Monetary Policy Department, Central Bank of the Republic of Turkey
Contact information at EDIRC.
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1920: Impact of Minimum Wages on Exporters: Evidence From a Sharp Minimum Wage Increase in Turkey

Yusuf Emre Akgunduz, Altan Aldan, Yusuf Bağır and Huzeyfe Torun

1919: An Analysis to Detect Exuberance and Implosion in Regional House Prices in Turkey

Evren Ceritoğlu, Seyit Cilasun, Ufuk Demiroglu and Aytul Ganioglu

1918: A Trade-Based Misallocation Index

Orhun Sevinc

1917: Invoicing Currency, Exchange Rate Pass-through and Value-Added Trade: An Emerging Country Case

Hulya Saygili

1916: Exchange Rate Driven Balance Sheet Effect and Capital Flows to Emerging Market Economies

Can Kadirgan

1915: Leverage Dynamics: Do Financial Development and Government Leverage Matter? Evidence from a Major Developing Economy

Ibrahim Yarba and Zehra Nuray Guner

1914: Convergence in House Prices: Cross-Regional Evidence for Turkey

Aytul Ganioglu and Ünal Seven

1913: Global Liquidity and the Impairment of Local Monetary Policy Transmission

Salih Fendoglu, Eda Gulsen and Jose-Luis Peydro

1912: Measuring Inflation Uncertainty in Turkey

Eda Gulsen and Hakan Kara

1911: Demographic Developments and Their Macroeconomic Impacts

Koray Kalafatcılar

1910: Macroprudential Policies, Persistence of Uncertainty and Leverage Dynamics: Evidence from a Major Developing Economy

Ibrahim Yarba and Zehra Nuray Guner

1909: The Evolution of Import Content of Production and Exports in Turkey: 2002-2017

Yasemin Erduman, Okan Eren and Selcuk Gul

1908: Exports, Imported Inputs, and Domestic Supply Networks

Yusuf Emre Akgunduz and Salih Fendoglu

1907: Bargaining on Supply Chain Networks with Heterogeneous Valuations

Elif Ozcan Tok

1906: Identifying Credit Supply Shocks in Turkey

Tayyar Buyukbasaran, Hatice Karasoy Can and Hande Kucuk

1905: Determinants of the Rise in Female Labor Force Participation: Identifying Cohort Effects

Altan Aldan and Selcen Ozturk

1904: A New Index Score for the Assessment of Firm Financial Risks

Mehmet Çolak

1903: Estimation of FX Option Implied Density Functions: Nonparametric-Malz Approach

Halil Korkmaz, Doruk Küçüksaraç, Yigit Onay and Ahmet Senol

1902: An Analysis on the Domestic Sales and Exports: A Dynamic Model for the Turkish Manufacturing Firms

Selcuk Gul

1901: Tax Elasticity Estimates for Capital Stocks

Fatih Yilmaz and Jean-Francois Wen

1820: Explaining Exchange Rate Movements Using Yield Curves in Emerging Countries

Murat Duran

1819: Real Exchange Rate Misalignment and Economic Growth: An Update

Bulent Ulasan

1818: Tracing the Impact of a Sudden Stop: The Role of Bank Rollover Risks, Expectations, and Domestic Production Networks

Salih Fendoglu and Steven Ongena

1817: Dependence of �Fragile Five" and �Troubled Ten" Emerging Markets' Financial System to US Monetary Policy and Monetary Policy Uncertainty

Meltem Chadwick

1816: Measuring Financial Systemic Stress for Turkey: A Search for the Best Composite Indicator

Meltem Chadwick and Huseyin Ozturk

1815: VAT Treatment of the Financial Services: Implications for the Real Economy

Fatih Yilmaz and Ï¿½smail Baydur

1814: Net External Position, Financial Development, and Banking Crisis

Aytul Ganioglu

1813: Transportation Mode Choice and International Fragmentation of Production: Evidence from a Developing Country

Hulya Saygili and Kemal Turkcan

1812: Turkiye'de Reel Kur Hareketlerinin �hracat Uzerindeki Asimetrik Etkileri (Asymmetric Effects of Real Exchange Rate Movements on Turkish Exports)

Selcuk Gul

1811: The Impact of Monetary Policy Stance, Financial Conditions, and the GFC on Investment-Cash Flow Sensitivity

Selcuk Gul and Huseyin Tastan

1810: Inflation Dynamics in Turkey from a Bayesian Perspective

Fethi Ogunc, Utku Ozmen and Cagri Sarikaya

1809: The Effect of Fed�s Future Policy Expectations on Country Shares in Emerging Market Portfolio Flows

Zelal Aktas, Yasemin Erduman and Neslihan Kaya Eksi

1808: Evolution of the University Wage Premium in Turkey: 2004-2015

Okan Eren

1807: Multivariate Filter for Estimating Potential Output and Output Gap in Turkey

Selen Andic

1806: Quantifying Uncertainty and Identifying its Impacts on the Turkish Economy

Evren Erdoğan Coşar and Saygin Sahinoz

1805: Forecasting Industrial Production and Inflation in Turkey with Factor Models

Mahmut Gunay

1804: A Revised Direct Output Gap Measure for the Turkish Economy

Evren Erdoğan Coşar

1803: Import Demand Function for Turkey

Olcay Yucel Culha, Okan Eren and Ferya Ogunc

1802: Export Behavior of Turkish Manufacturing Firms Under Crises

Aslihan Atabek Demi̇rhan and Hakan Ercan

1801: Foreign Currency Borrowing, Exports and Firm Performance: Evidence from a Currency Crisis

Spiros Bougheas, Hosung Lim, Simona Mateut, Paul Mizen and Cihan Yalcin

1721: The Empirical Content of Season-of-Birth Effects: An Investigation with Turkish Data

Huzeyfe Torun and Semih Tumen

1720: Do Subsidized Export Loans Increase Exports?

Yusuf Emre Akgunduz, Suleyman Kal and Huzeyfe Torun

1719: A Financial Connectedness Analysis for Turkey

Ferhat Camlica, Didem Gunes and Etkin Ozen

1718: Production Fragmentation and Factor Price Convergence

Hulya Saygili

1717: Evidence for the Explosive Behavior of Food and Energy Prices: Implications in Terms of Inflation Expectations

Aytul Ganioglu

1716: Regional Economic Growth in Turkey: The Effects of Physical, Social and Financial Infrastructure Investments

Hulya Saygili and Kazim Özdemir

1715: Forecasting the Growth Cycles of the Turkish Economy

Hüseyin Özbilgin

1714: Home-ownership, Housing Demand and Household Wealth Distribution in Turkey

Evren Ceritoğlu

1713: Credit Cycles and Capital Flows: Effectiveness of the Macroprudential Policy Framework in Emerging Market Economies

Salih Fendoglu

1712: Are Macroprudential Policies Effective Tools to Reduce Credit Growth in Emerging Markets?

Fatma Erdem, Etkin Ï¿½zen and Ibrahim Unalmis