Working Papers

From Research and Monetary Policy Department, Central Bank of the Republic of Turkey
Contact information at EDIRC.
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1418: International Evidence on the Interaction between Cross-Border Capital Flows and Domestic Credit Growth

Yavuz Arslan and Temel Taskin

1417: Cross Sectional Facts on Bank Balance Sheets over the Business Cycle

Osman Abbasoğlu, Şerife Genç İleri and Yasin Mimir

1416: The Relationship between Inflation Targeting and Exchange Rate Pass-Through in Turkey with a Model Averaging Approach

Ferhat Arslaner, Dogan Karaman, Nuran Arslaner and Suleyman Kal

1415: News, Housing Boom-Bust Cycles, and Monetary Policy

Birol Kanık and Wei Xiao

1414: Evaluating the Impact of the Post-2008 Employment Subsidy Program in Turkey

Binnur Balkan, Yusuf Baskaya and Semih Tumen

1413: A Comparison of Optimal Policy Rules for Pre and Post Inflation Targeting Eras: Empirical Evidence from Bank of Canada

Neslihan Kaya

1412: Non-core Liabilities as an Indicator of Systemic Risk and a Liquidity Stress Test Application on Turkish Banking System

Kurmaş Akdoğan and Burcu Deniz Yildirim

1411: Mean Reversion of the Current Account and Sustainability: Evidence from European Countries

Kurmaş Akdoğan

1410: Reassessing the Trends in the Relative Supply of College-Equivalent Workers in the U.S.: A Selection-Correction Approach

Zeynep Elitas, Hakan Ercan and Semih Tumen

1409: Quantifying and Explaining Stickiness in Housing Rents: A Turkish Case Study with Micro-level Data

Cem Aysoy, Cevriye Aysoy and Semih Tumen

1408: GDP Growth in Turkey: Inclusive or Not?

Temel Taskin

1407: Openness to International Trade and Economic Growth: A Cross-Country Empirical Investigation

Bulent Ulasan

1406: Estimating Nairu for the Turkish Economy Using Extended Kalman Filter Approach

Vuslat Us

1405: Nufus Yapisindaki Degisimlerin Uzun Donem Konut Talebi Uzerindeki Etkileri

Yavuz Arslan, Evren Ceritoğlu and Birol Kanık

1404: Macroprudential Policies as Buffer Against Volatile Cross-border Capital Flows

Ahmet Aysan, Salih Fendoglu and Mustafa Kilinc

1403: Managing Short-Term Capital Flows in New Central Banking: Unconventional Monetary Policy Framework in Turkey

Ahmet Aysan, Salih Fendoglu and Mustafa Kilinc

1402: Interest Rate Corridor, Liquidity Management and the Overnight Spread

Hande Kucuk, Pınar Özbay Özlü, Ismail Talasli, Deren Ünalmış and Canan Yuksel

1401: Heterogeneity and Uncertainty in the Dynamics of Firm Selection into Foreign Markets

Mehmet Ulu

1346: Domestic Savings-Investment Gap and Growth: A Cross-Country Panel Study

Aytul Ganioglu and Cihan Yalcin

1345: Endogenous Life-Cycle Housing Investment and Portfolio Allocation

Cengiz Tunc and Denis Pelletier

1344: Analyzing Banks' Opinions on the Loan Supply and Loan Demand Using Multi-Country Bank Lending Survey Data

Defne Mutluer Kurul

1343: Interest Rate Fluctuations and Equilibrium in the Housing Market

Yavuz Arslan

1342: Asymmetric Behaviour of Inflation around the Target in Inflation-Targeting Emerging Markets

Kurmaş Akdoğan

1341: A Quest for Leading Indicators of the Turkish Unemployment Rate

Burcu Gürcihan, Gonul Sengul and Arzu Yavuz

1340: Turkiye�de Konjonkturel Etkilerden Arindirilmis Cari Islemler Dengesi

Hakan Kara and Cagri Sarikaya

1339: Intensive Margin and Extensive Margin Adjustments of Labor Market: Turkey versus United States

Temel Taskin

1338: Day-of-the-Week Effects in Subjective Well-Being: Does Selectivity Matter?

Semih Tumen and Tugba Zeydanli

1337: The Effects of Government Spending Shocks on the Real Exchange Rate and Trade Balance in Turkey

Cem Çebi and Ali Askin Culha

1336: Risk Sharing and Real Exchange Rate: The Roles of Non-tradable Sector and Trend Shocks

Huseyin Cagri Akkoyun, Yavuz Arslan and Mustafa Kilinc

1335: Unemployment and Vacancies in Turkey: The Beveridge Curve and Matching Function

Birol Kanık, Enes Sunel and Temel Taskin

1334: Distributional and Welfare Consequences of Disinflation in Emerging Economies

Enes Sunel

1333: Do We Really Need Filters In Estimating Output Gap?: Evidence From Turkey

Evren Erdoğan Coşar, Sevim Kösem and Cagri Sarikaya

1332: The Role of Extensive Margin in Exports of Turkey: A Comparative Analysis

Altan Aldan and Olcay Çulha

1331: Alternative Tools to Manage Capital Flow Volatility

Koray Alper, Hakan Kara and Mehmet Yorukoglu

1330: How do Banks� Stock Returns Respond to Monetary Policy Committee Announcements in Turkey? Evidence from Traditional versus New Monetary Policy Episodes

Guray Kucukkocaoglu, Deren Ünalmış and Ibrahim Unalmis

1329: Some Observations on the Convergence Experience of Turkey

Murat Üngör

1328: Reserve Option Mechanism as a Stabilizing Policy Tool: Evidence from Exchange Rate Expectations

Ahmet Degerli and Salih Fendoglu

1327: GDP Growth and Credit Data

Ergun Ermisoglu, Yasin Akcelik and Arif Oduncu

1326: Yield Curve Estimation for Corporate Bonds in Turkey

İbrahim Kanlı, Doruk Küçüksaraç and Ozgur Ozel

1325: Inattentive Consumers and Exchange Rate Volatility

Mehmet Ekinci

1324: Non-core Liabilities and Credit Growth

Zubeyir Kilinc, Hatice Karasoy Can and Mustafa Yücel

1323: Does Unemployment Insurance Crowd out Home Production?

Bulent Guler and Temel Taskin

1322: Home Ownership and Job Satisfaction

Semih Tumen and Tugba Zeydanli

1321: Turkiye Isgucu Piyasasinda Mesleklerin Onemi: Hizmetler Sektoru Istihdami, Isgucu ve Ucret Kutuplasmasi

Semih Akçomak and Burcu Gürcihan

1320: Gecelik Kur Takasi Faizleri ve BIST Gecelik Repo Faizleri

Doruk Küçüksaraç and Ozgur Ozel

1319: Undocumented Workers� Employment across U.S. Business Cycles

David Brown, Şerife Genç İleri, Julie Hothckiss and Myriam Quispe-Agnoli

1318: Systemic Risk Contribution of Individual Banks

Huseyin Cagri Akkoyun, Ramazan Karasahin and Gursu Keles

1317: External Financial Stress and External Financing Vulnerability in Turkey: Some Policy Implications for Financial Stability

Etkin Ozen, Cem Sahin and Ibrahim Unalmis

1316: End-Point Bias in Trend-Cycle Decompositions: An Application to the Real Exchange Rates of Turkey

Mehmet Ekinci, Gazi Kabaş and Enes Sunel

1315: Did the Rising Importance of Services Decelerate Overall Productivity Improvement of Turkey during 2002-2007

Murat Üngör