Responsiveness of monetary policy to financial stress in Turkey
The objective of this paper is to investigate whether the Central Bank of Turkey (CBRT) was responsive to financial stress or not during the period 2005m1–2015m10. The study is unique in the sense that CBRT's monetary policy reaction function is augmented with a distinctive financial stress ind...
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| Format: | Article |
| Language: | English |
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Elsevier
2016-12-01
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| Series: | Central Bank Review |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S1303070116300312 |