Author/Authors
altuntaş, mehmet nişantaşı üniversitesi - iktisadi, idari ve sosyal bilimler fakültesi, Turkey
Title Of Article
THE RELATIONSHIP RESERVE OPTION MECHANISM AND INTERNATIONAL RESERVE
شماره ركورد
45292
Abstract
Central Banks, having impacts on many macroeconomic magnitudes through their decisions, started to conduct non-traditional monetary policy instruments as well as traditional instruments in accordance with the latest changes and trends in international markets. In this regard, one of these policy instruments conducted by the Central Bank of the Republic of Turkey (CBRT) is the reserve options mechanism. The instrument, used within the scope of reserves policy, is supposed to have effects on a great number of macroeconomic variables. Thus, this study aimed to analyse and illustrate the relationship between the use of reserve options mechanism in Turkey and gross foreign exchange reserves of the CBRT from October 2011 to March 2019. The nonlinear asymmetric smooth transition error correction model developed by Hepsag (2019) was employed in this study, and the results indicated that there is a short and long-run cointegration relationship between the variables.
From Page
595
NaturalLanguageKeyword
Monetary Policy , Reserve Option Mechanism , Gross Foreign Exchange Reserves
JournalTitle
Abant Sosyal Bilimler Dergisi
To Page
609
JournalTitle
Abant Sosyal Bilimler Dergisi
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