{"id":2878,"date":"2014-11-02T21:25:36","date_gmt":"2014-11-02T19:25:36","guid":{"rendered":"http:\/\/www.berjournal.com\/?p=2878"},"modified":"2014-11-02T21:25:36","modified_gmt":"2014-11-02T19:25:36","slug":"merkez-bankasi-faiz-duyurularinin-finansal-piyasalara-etkisi","status":"publish","type":"post","link":"https:\/\/www.berjournal.com\/tr\/merkez-bankasi-faiz-duyurularinin-finansal-piyasalara-etkisi","title":{"rendered":"Merkez Bankas\u0131 Faiz Duyurular\u0131n\u0131n Finansal Piyasalara Etkisi"},"content":{"rendered":"<table style=\"font-family: Arial, serif; text-align: justify;\" width=\"534\" cellspacing=\"0\" cellpadding=\"7\">\n<tbody>\n<tr>\n<td style=\"color: #ffffff; font-weight: bold;\" valign=\"TOP\" bgcolor=\"#0188a6\" width=\"534\" height=\"15\">Makale Bilgileri<\/td>\n<\/tr>\n<tr>\n<td valign=\"TOP\" bgcolor=\"#ffffff\" width=\"534\" height=\"169\">\n<table border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Dergi:<\/td>\n<td>Business and Economics Research Journal<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Makalenin Ba\u015fl\u0131\u011f\u0131:<\/td>\n<td>Merkez Bankas\u0131 Faiz Duyurular\u0131n\u0131n Finansal Piyasalara Etkisi<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Yazar(lar):<\/td>\n<td>Neilan Soylu,\u00a0Turhan Korkmaz,\u00a0Emrah \u0130smail \u00c7evik<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Cilt:<\/td>\n<td>5<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Say\u0131:<\/td>\n<td>4<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Y\u0131l:<\/td>\n<td>2014<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Sayfa:<\/td>\n<td>89-118<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">ISSN:<\/td>\n<td>1309-2448<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"color: #ffffff; font-weight: bold;\" valign=\"TOP\" bgcolor=\"#0188a6\" width=\"534\" height=\"15\">\u00d6zet<\/td>\n<\/tr>\n<tr>\n<td valign=\"TOP\" bgcolor=\"#ffffff\" width=\"534\">2005 y\u0131l\u0131ndan itibaren, a\u00e7\u0131k enflasyon hedeflemesi rejimine ge\u00e7ilmesiyle beraber, TCMB piyasalarda \u00f6ng\u00f6r\u00fclebilirli\u011fi artt\u0131rmak ve istenmeyen oynakl\u0131klar\u0131 \u00f6nlemek amac\u0131yla, giderek daha \u015feffaf bir ileti\u015fim stratejisi izlemi\u015f, karar alma s\u00fcrecine ili\u015fkin daha fazla bilgi payla\u015fm\u0131\u015ft\u0131r. Bu \u00e7er\u00e7evede, Para Politikas\u0131 Kurulu toplant\u0131lar\u0131n\u0131n \u00f6nceden belirlenen tarihlerde yap\u0131lmas\u0131, toplant\u0131dan hemen sonra faiz kararlar\u0131n\u0131n gerek\u00e7eleriyle birlikte yay\u0131mlanmas\u0131, piyasalara yol g\u00f6sterir nitelikte uygulamalard\u0131r. Bu \u00e7al\u0131\u015fmada, merkez bankas\u0131 faiz duyurular\u0131n\u0131n spot ve vadeli i\u015flemler piyasas\u0131 \u00fczerine etkisi ara\u015ft\u0131r\u0131lm\u0131\u015ft\u0131r. \u015eubat 2005 \u2013 Nisan 2013 d\u00f6neminde i\u015flem g\u00f6ren B\u0130ST 30 endeksi, Dolar\/TL ve Euro\/TL de\u011fi\u015fkenlerine ait g\u00fcnl\u00fck spot ve vadeli getiri serileri kullan\u0131lm\u0131\u015f, faiz duyurular\u0131n\u0131n, GARCH ve EGARCH y\u00f6ntemleri kullan\u0131larak, ortalama getiri ve volatilite \u00fczerinde etkileri ara\u015ft\u0131r\u0131lm\u0131\u015ft\u0131r. Sonu\u00e7lar, faiz kararlar\u0131n\u0131n, art\u0131\u015f ya da azal\u0131\u015f olarak ayr\u0131\u015ft\u0131r\u0131ld\u0131\u011f\u0131nda, analiz edilen de\u011fi\u015fkenler \u00fczerinde farkl\u0131 etkileri oldu\u011funu g\u00f6stermektedir.<\/td>\n<\/tr>\n<tr>\n<td valign=\"TOP\" bgcolor=\"#ffffff\" width=\"534\" height=\"22\">\n<table border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" align=\"left\" valign=\"top\" width=\"155\">Anahtar Kelimeler:<\/td>\n<td>Merkez bankas\u0131, faiz kararlar\u0131, B\u0130ST 30, d\u00f6viz, volatilite<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"TOP\" bgcolor=\"#ffffff\" width=\"534\">\n<table border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td style=\"color: #0188a6; font-weight: bold;\" width=\"155\">JEL S\u0131n\u0131fland\u0131rmas\u0131:<\/td>\n<td>E52, E58, G17<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><table style=\"border: 0px solid #CCC;\" cellpadding=\"3\" width=\"100%\">\r\n  <tr>\r\n    <td width=\"35\">\r\n      <img decoding=\"async\" src=\"https:\/\/www.berjournal.com\/tr\/wp-content\/uploads\/icons\/pdf.gif\" alt=\"https:\/\/www.berjournal.com\/tr\/wp-content\/uploads\/icons\/pdf.gif\" width=20 height=18>\r\n    <\/td>\r\n    <td>\r\n      <b> \r\n<a href=\"https:\/\/www.berjournal.com\/tr\/?file_id=251\">Tam Metin\r\n<\/b> ( <span style=\"font-weight:bolder;\">\u2193<\/span> 2996)<\/a>    <\/td>\r\n  <\/tr>\r\n<\/table><\/p>\n<div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_2878\" class=\"pvc_stats all  \" data-element-id=\"2878\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\" class=\"svg-inline--fa fa-chart-bar fa-w-16 fa-2x\"><path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\" class=\"\"><\/path><\/svg><\/i> <img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/www.berjournal.com\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" border=0 \/><\/p>\n<div class=\"pvc_clear\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Makale Bilgileri Dergi: Business and Economics Research Journal Makalenin Ba\u015fl\u0131\u011f\u0131: Merkez Bankas\u0131 Faiz Duyurular\u0131n\u0131n Finansal Piyasalara Etkisi Yazar(lar): Neilan Soylu,\u00a0Turhan Korkmaz,\u00a0Emrah \u0130smail \u00c7evik Cilt: 5 Say\u0131: 4 Y\u0131l: 2014 Sayfa: 89-118 ISSN: 1309-2448 \u00d6zet 2005 y\u0131l\u0131ndan itibaren, a\u00e7\u0131k enflasyon hedeflemesi rejimine ge\u00e7ilmesiyle beraber, TCMB piyasalarda \u00f6ng\u00f6r\u00fclebilirli\u011fi artt\u0131rmak ve istenmeyen oynakl\u0131klar\u0131 \u00f6nlemek amac\u0131yla, giderek daha \u015feffaf [&hellip;]<\/p>\n<div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_2878\" class=\"pvc_stats all  \" data-element-id=\"2878\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" role=\"img\" 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