Working Papers

From Research and Monetary Policy Department, Central Bank of the Republic of Turkey
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0507: A Monetary Disequilibrium Model for Turkey: Investigation of a Disinflationary Fiscal Rule and its Implications on Monetary Policy

Kazim Özdemir

0506: The Effectiveness of Foreign Exchange Interventions for the Turkish Economy: A Post-Crisis Period Analysis

Ozge Akinci, Olcay Çulha, Umit Ozlale and Gülbin Şahinbeyoğlu

0505: Causes and Effectiveness of Foreign Exchange Interventions for the Turkish Economy

Ozge Akinci, Olcay Çulha, Umit Ozlale and Gülbin Şahinbeyoğlu

0504: Exchange Rate Pass-Through in Turkey: Has it Changed and to What Extent?

Hakan Kara, Hande Kucuk, Umit Ozlale, Burc Tuger, Devrim Yavuz and Mustafa Yücel

0503: Estimating Output Gap for the Turkish Economy

Cagri Sarikaya, Fethi Ogunc, Dilara Ece, Hakan Kara and Umit Ozlale

0502: The Price Puzzle in Emerging Markets: Evidence from the Turkish Economy Using Model Based Risk Premium Derived from Domestic Fundamentals

Zelal Aktas, Neslihan Kaya and Umit Ozlale

0501: A Dynamic Model of Central Bank Intervention

Ana María Herrera and Pınar Özbay Özlü

0415: Monetary Policy under Imperfect Commitment: Reconciling Theory with Evidence

Hakan Kara

0414: Nonlinearity and Structural Change in Interest Rate Reaction Functions for the US, UK and Germany

Mehtap Kesriyeli, Denise Osborn and Marianne Sensier

0413: Revealing Turkey�s Public Debt Burden: A Transparent Payments Approach

Ertunc Alioglu, Can Erbil and Ferhan Salman

0412: The Demand for Base Money in Turkey: Implications for Inflation and Seigniorage

Kazim Özdemir and Paul Turner

0411: Public Debt in Turkey

Kazim Özdemir

0410: Optimal International Reserves Behavior for Turkey

Kazim Özdemir

0409: Export Supply and Import Demand Models for the Turkish Economy

Faruk Aydin, Ugur Ciplak and Mustafa Yücel

0408: Balancing Turkey�s Intertemporal Budget Gap

Ferhan Salman

0407: The Impact of Firm-Specific Characteristics on the Response to Monetary Policy Actions

Cihan Yalcin, Spiros Bougheas and Paul Mizen

0406: Access to External Finance: Theory and Evidence on the Impact of Firm-Specific Characteristics

Spiros Bougheas, Paul Mizen and Cihan Yalcin

0405: Para: Para Hukuku ve Kaynaklari

Z. Ernur Demir Abaan

0404: Importance of Base Money Even When Inflation Targeting

Melike Altinkemer

0403: High Public Debt and Effects of News on Interest Rates

Olcay Yucel Emir, Fatih Ozatay and Gülbin Şahinbeyoğlu

0402: Relative Price Variability: The Case Of Turkey 1994-2002

Hande Kucuk and Burc Tuger

0401: Trade Protection Measures, Agricultural and Food Prices

Ugur Ciplak and Mustafa Yücel

0308: Banking Sector Fragility and Turkey�s 2000�01 Financial Crisis

Fatih Ozatay and Guven Sak

0307: What Triggers Inflation in Emerging Market Economies?

Ilker Domac and Mustafa Yücel

0306: Explaining and Forecasting Inflation in Turkey

Ilker Domac

0305: Recent Experiences With Capital Controls: Is There A Lesson for Turkey?

Melike Altinkemer

0304: Does the Exchange Rate Regime Matter for Inflation? Evidence from Transition Economies

Ilker Domac, Kyle Peters and Yevgeny Yuzefovich�

0303: Electronic Money Free Banking and Some Implications for Central Banking

Yuksel Gormez and Christopher Houghton Budd

0302: Prospects for Electronic Money: A US - European Comparative Survey

Yuksel Gormez and Forrest Capie

0301: Optimal Monetary Policy, Commitment, and Imperfect Credibility

Hakan Kara

0214: Effects of the Interest Rate Defense on Exchange Rates During the 1994 Crisis in Turkey

Inci Gumus

0213: Turkiye�de Kamu Kesimi Ic Borclanmasinin Bankacilik Sektoru Bilancolarina ve Risklerine Olan Etkileri

Faruk Aydin

0212: 2002 Yilinin Ilk Yarisinda Stok Birikiminin GSYIH Buyumesine Katkisi

Evren Ceritoğlu

0211: Calculation Of Output-Inflation Sacrifice Ratio: The Case Of Turkey

Devrim Yavuz and Arzu Cetinkaya

0210: Inflation Dynamics and Reaction Function in High-inflation Environment: An Implication for Turkey

Runchana Pongsaparn

0209: Open Market Operations In Turkey

Gökhan Yılmaz

0208: Cari Islemler Hesabina Cesitli Yaklasimlar, Surdurulebilirlik ve Turkiye Ornegi

S. Tolga Tiryaki

0207: Inflation Targeting as a Monetary Policy and its Applicability to Developing Countries

Anil Duman

0206: Bankalararasi Para Piyasasi

Serkan Yigit

0205: The Seasonal Adjustment of the Consumer and Wholesale Prices: a Comparison of Census X-11, X-12 Arima and Tramo/Seats

Meltem Gulenay Ongan

0204: The Cyclicality Of Mark-Up Ratios: The Case Of Turkish Industry

Evren Ceritoğlu

0203: The Causality Between Financial Development and Economic Growth: The Case of Turkey

Deren Ünalmış

0202: Kamu Kesimi Itibariyle Mali Etki Hesaplamasi: Turkiye Uygulamasi

Cem Çebi

0201: Bankacilik Sektorunun Yabanci Para Pozisyon Acigi: Turkiye Ornegi

Cafer Kaplan

0001: The real exchange rate definitions and calculations

Ahmet N. Kipici and Mehtap Kesriyeli

9902: TEFE ve TUFE Endeksleri ile Alt Kalemlerindeki Mevsimsel Hareketlerin Incelenmesi

Yusuf Baskaya, Pelin Berkmen, Hüseyin Özbilgin and Erdal Yılmaz

9901: Modeling the Volatility In the Central Bank Reserves In An Emerging Market Setting

Ferhan Salman and Aslihan Salih

9801: The Global Crisis and The Turkish Economy

Sukru Binay and Ferhan Salman

9704: 1980'li Yillardan Gunumuze Para Politikasi Gelismeleri

Mehtap Kesriyeli

9703: Para: Teorik Bir Tarama ve Tartisma

Ernur Demir Abaan

9702: Turkiye�de Enflasyona Endeksli Kamu Menkul Kiymetlerinin Cikarilmasina Iliskin Bir Calisma

Ercan Balaban

9701: Reel Doviz Kuru Tanimlari ve Hesaplama Yontemleri

Ahmet N. Kipici and Mehtap Kesriyeli