Monetary Policy and Long Term Interest Rates



Monetary policy trilemma, inflation targeting and global financial crisis
Gulsen, Eda; Özmen, Erdal (Wiley, 2020-04-01)
We empirically investigate the validity of the monetary policy trilemma postulation for emerging market (EME) and advanced (AE) economies under different exchange rate and monetary policy regimes before and after the recent global financial crisis (GFC). Consistent with the dilemma proposition, domestic interest rates are determined by global financial conditions and the FED rate even under floating exchange rate regimes (ERR) in the long-run. The impact of the FED rates is higher in EME than AE and EME are...
Monetary policy and stock returns the case of Turkey
Sarı, Ramazan; Malik, Farooq (2003-01-01)
Monetary Policy in The General Theory
Ekinci, Nazım Kadri (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2008-6)
The theory of interest rate is central to Keynesian macroeconomics. This paper provides an interpretation of Keynes’ conventional theory of the interest rate. Accordingly, the interest rate can only be determined in the market, if expectations converge. The central bank is a market-maker, because of its capacity to manage expectations and to affect market outcomes. On the other hand, interest rate and asset prices determine the rate at which wealth is converted into income. This may be a crucial considerati...
Monetary policy operating framework for financial and price stability: the case of Turkey
Çufadar, Ali; Özmen, Erdal; Department of Economics (2012)
This thesis aims to provide evidence on whether FDI occurring in the Turkish economy has any effect on domestic firms, especially whether and to what extent it leads to KTTs towards domestic firms by paying attention to the role of MNCs. In order to do so, we firstly conduct a series of econometric analyses to analyze the impact of FDI-related technology spillovers on domestic firms’ productivity level in the Turkish manufacturing industry. Estimation results produced positive evidence on horizontal and bac...
Financial Development and Economic Growth - New Data and Empirical Analysis
Graff, Micheal (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2001)
The paper discusses the significance of financial development as a determinant of economic development. An empirical analysis is based on panel data covering 93 countries from 1970-90. It draws on a new proxy for financial development that refers to the input of real resources into the financial system. Moreover, interaction effects between financial development and catching-up as well as education are considered. Finally, to clarify the structure of causal relationships, a two-wave path model is estimated....
Citation Formats
H. Cömert, “Monetary Policy and Long Term Interest Rates,” 2011, Accessed: 00, 2021. [Online]. Available: