Central Bank Review最新文献_第7页

Exchange-traded funds and FX volatility: Evidence from Turkey 交易所交易基金和外汇波动:来自土耳其的证据

IF 2.8

Central Bank Review Pub Date : 2020-12-01 DOI: 10.1016/j.cbrev.2020.06.002

Burçhan Sakarya , Aykut Ekinci

引用次数: 6

An optimal early warning system for currency crises under model uncertainty 模型不确定性下货币危机的最优预警系统

IF 2.8

Central Bank Review Pub Date : 2020-09-01 DOI: 10.1016/j.cbrev.2020.03.002

Mamdouh Abdelmoula M. Abdelsalam , Hany Abdel-Latif

引用次数: 0

Credit decomposition and economic activity in Turkey: A wavelet-based approach 土耳其的信用分解和经济活动:基于小波的方法

IF 2.8

Central Bank Review Pub Date : 2020-09-01 DOI: 10.1016/j.cbrev.2020.06.001

Oğuzhan Çepni , Yavuz Selim Hacıhasanoğlu , Muhammed Hasan Yılmaz

{"title":"Credit decomposition and economic activity in Turkey: A wavelet-based approach","authors":"Oğuzhan Çepni , Yavuz Selim Hacıhasanoğlu , Muhammed Hasan Yılmaz","doi":"10.1016/j.cbrev.2020.06.001","DOIUrl":"10.1016/j.cbrev.2020.06.001","url":null,"abstract":"<div><p>This paper aims to investigate the co-movement between the credit growth and gross domestic product (GDP) growth in Turkey over the period January 2004–October 2019. By taking into account alternative credit decomposition and the variations over time and across frequencies using the wavelet analysis, the results show that: i) GDP growth highly synchronizes with credit growth compared to other financial variables such as stock exchange, bonds, and exchange rate. ii) There is a high correlation between commercial loan growth and capital formation and a relatively weak one with consumer loans and consumption. iii) Co-movement stemming from Turkish Lira (TL) credits to GDP growth is stronger than foreign exchange (FX) credits where the latter is significant until 2015. iv) Public and domestic private banks are the main drivers of economic activity while the foreign banks are following them. By showing the differential effects of different types of credit on GDP growth, we specify that shocks to different credit types are crucial to analyze business cycles. For policymakers, this result implies that the dynamics of different credit types are crucial to analyze the impacts of credit cycles on economic activity.</p></div>","PeriodicalId":43998,"journal":{"name":"Central Bank Review","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.cbrev.2020.06.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87214933","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Monetary policy and financial stability: Should central bank lean against the wind? 货币政策与金融稳定:央行应该逆风而行吗?

IF 2.8

Central Bank Review Pub Date : 2020-09-01 DOI: 10.1016/j.cbrev.2020.03.006

Aswathi R. Nair , B. Anand

引用次数: 19

Logistics performance and export variety: Evidence from Turkey 物流绩效和出口品种:来自土耳其的证据

IF 2.8

Central Bank Review Pub Date : 2020-09-01 DOI: 10.1016/j.cbrev.2020.04.002

Ünal Töngür , Kemal Türkcan , Seda Ekmen-Özçelik

引用次数: 19

Job search, occupational choice and learning 求职、职业选择与学习

IF 2.8

Central Bank Review Pub Date : 2020-09-01 DOI: 10.1016/j.cbrev.2020.03.004

Tayyar Büyükbaşaran

{"title":"Job search, occupational choice and learning","authors":"Tayyar Büyükbaşaran","doi":"10.1016/j.cbrev.2020.03.004","DOIUrl":"10.1016/j.cbrev.2020.03.004","url":null,"abstract":"<div><p>This paper investigates the labor market consequences of incomplete information about workers’ own job searching process and best occupations fitting to them. A search and learning model is provided in order to analyze these effects. In the model, search outcomes relay information about workers’ job finding abilities and appropriate occupations suited to them, and workers use this information to infer their types. Our theory explains how search outcomes during unemployment can change the beliefs of workers about their job finding ability and consequently affect their decisions including the occupational choices. Characterization of the model results in a simple value function with <em>reservation level of prior belief property</em> that is similar to reservation wage property. Some interesting facts about both micro and macro data are identified and our model’s explanation of these facts is discussed. Particularly, our characterization gives rational for why workers with less experience in searching have (1) longer unemployment duration and (2) higher probability of changing occupation by reemployment, and (3) why shifts in Beveridge curve may be observed. Theory can also be used to (4) explain the discouraged worker phenomenon.</p></div>","PeriodicalId":43998,"journal":{"name":"Central Bank Review","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.cbrev.2020.03.004","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75322542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

A financial stress index for a highly dollarized developing country: The case of Lebanon 高度美元化的发展中国家的财政压力指数:黎巴嫩的例子

IF 2.8

Central Bank Review Pub Date : 2020-06-01 DOI: 10.1016/j.cbrev.2020.02.004

Layal Mansour Ishrakieh, Leila Dagher, Sadika El Hariri

引用次数: 25

The determinants of bank profitability: A cross-country analysis 银行盈利能力的决定因素:一项跨国分析

IF 2.8

Central Bank Review Pub Date : 2020-06-01 DOI: 10.1016/j.cbrev.2020.04.001

Tu D. Q. Le, Thanh Ngo

引用次数: 107

The determinants of bank profitability: A cross-country analysis 银行盈利能力的决定因素:一项跨国分析

IF 2.8

Central Bank Review Pub Date : 2020-06-01 DOI: 10.1016/j.cbrev.2020.04.001

Tu DQ. Le , Thanh Ngo

引用次数: 101

Spillover effect in financial markets in Turkey 土耳其金融市场的溢出效应

IF 2.8

Central Bank Review Pub Date : 2020-06-01 DOI: 10.1016/j.cbrev.2020.02.003

Buket Alkan , Serkan Çiçek

{"title":"Spillover effect in financial markets in Turkey","authors":"Buket Alkan , Serkan Çiçek","doi":"10.1016/j.cbrev.2020.02.003","DOIUrl":"https://doi.org/10.1016/j.cbrev.2020.02.003","url":null,"abstract":"<div><p>An increase in the return of an asset in the financial markets may cause the returns of the remaining assets to fluctuate over time because of the arbitrage conditions. This may also create a spillover or contagion between the volatilities of the assets in the financial markets. This study aimed to capture the spillover between financial markets in the Turkish economy and to investigate the effects of global markets on Turkish financial markets, since the spillover may arise from the global financial markets as well as the domestic ones. Employing BEKK parameterization of the multivariate GARCH model between 2006 and 2018, it found a strong mean spillover from global markets to domestic stock and bond markets, from stock and exchange markets to the bond market and from the dollar return to the stock market. For the volatility spillover, the results also supported strong spillover between each market pairs. These findings implied that the Turkish economy is well integrated into global markets and that a fluctuation in volatility in a global or domestic market immediately spreads to other domestic markets, regardless of borders.</p></div>","PeriodicalId":43998,"journal":{"name":"Central Bank Review","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.cbrev.2020.02.003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91710207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 15