Search engine for discovering works of Art, research articles, and books related to Art and Culture
Javascript must be enabled to continue!
The Effect of Monetary Policy on Interest Rates in Turkey: A Microstructural Analysis
View through CrossRef
The purpose of this study it to investigate the impact of monetary policy announcements by Central Bank of the Turkish Republic (CBRT) on market interest rates via micro variables on interest rates. In this context, this study investigated the relationship between monetary policy announcements and market interest rates for 2011:01-2015:10 term using GARCH model. The estimates have indicated that monetary policy announcements have different impacts on interest rate volatilities when distinguished as decisions on increasing, decreasing or fixing interest rates. It was found that contractionary monetary policy announcements have different impacts on market interest rates volatilities analyzed in the present study, while expansionary monetary policy announcements decrease the volatility on market interest rates. On the other hand, the announcements towards fixing the monetary policy increases the interest rate volatility of market interest rates. The results of the analysis also indicated that deposit interest rate weighted up to one year are affected the least by the monetary policy changes.
Macrothink Institute, Inc.
Title: The Effect of Monetary Policy on Interest Rates in Turkey: A Microstructural Analysis
Description:
The purpose of this study it to investigate the impact of monetary policy announcements by Central Bank of the Turkish Republic (CBRT) on market interest rates via micro variables on interest rates.
In this context, this study investigated the relationship between monetary policy announcements and market interest rates for 2011:01-2015:10 term using GARCH model.
The estimates have indicated that monetary policy announcements have different impacts on interest rate volatilities when distinguished as decisions on increasing, decreasing or fixing interest rates.
It was found that contractionary monetary policy announcements have different impacts on market interest rates volatilities analyzed in the present study, while expansionary monetary policy announcements decrease the volatility on market interest rates.
On the other hand, the announcements towards fixing the monetary policy increases the interest rate volatility of market interest rates.
The results of the analysis also indicated that deposit interest rate weighted up to one year are affected the least by the monetary policy changes.
Related Results
Hydatid Disease of The Brain Parenchyma: A Systematic Review
Hydatid Disease of The Brain Parenchyma: A Systematic Review
Abstarct
Introduction
Isolated brain hydatid disease (BHD) is an extremely rare form of echinococcosis. A prompt and timely diagnosis is a crucial step in disease management. This ...
Sharia Monetary Policy Instruments in Indonesia
Sharia Monetary Policy Instruments in Indonesia
In Islamic monetary policy, there is no known interest system. The instruments used in Islamic monetary policy are also different from monetary policy in general because they are n...
The relationship between money supply and inflation: analysis with PANELVAR approach
The relationship between money supply and inflation: analysis with PANELVAR approach
Purpose- Central banks serve as institutions responsible for executing monetary policy in countries, with the primary objective of managing the money supply and ensuring price stab...
Chest Wall Hydatid Cysts: A Systematic Review
Chest Wall Hydatid Cysts: A Systematic Review
Abstract
Introduction
Given the rarity of chest wall hydatid disease, information on this condition is primarily drawn from case reports. Hence, this study systematically reviews t...
Healthy interaction between fiscal and monetary policies; A panacea for economic development and sustainability
Healthy interaction between fiscal and monetary policies; A panacea for economic development and sustainability
A healthy fiscal and monetary policies form the basis for economic growth and sustainability of an economy. This work seeks to look at the effect of monetary and fiscal policies on...
Susidenko Influence of monetary policy on economic growth in Ukraine.
Susidenko Influence of monetary policy on economic growth in Ukraine.
Subject of study. The problems of stability and effective regulation of the money supply arise from the influence of various factors, such as global economic shifts, the complexity...
Monetary Conditions Index: A Composite Measure of Monetary Policy in Pakistan
Monetary Conditions Index: A Composite Measure of Monetary Policy in Pakistan
Accurate measures of the size and direction of changes in monetary policy are very important. A number of variables/indicators have been used as a measure of the stance of monetary...
The Price Puzzle and Monetary Policy Transmission Mechanism in Pakistan: Structural Vector Autoregressive Approach
The Price Puzzle and Monetary Policy Transmission Mechanism in Pakistan: Structural Vector Autoregressive Approach
The prime objective of economic policies is to increase the welfare of the general public and the monetary policy supports this broad objective by focusing its efforts to promote p...