Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/299056 
Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 11 [Issue:] 3 [Year:] 2022 [Pages:] 155-178
Verlag: 
Sciendo, Warsaw
Zusammenfassung: 
This study investigates the effectiveness of ROM. We conducted the GARCH (1,1) Model to determine whether ROM contributed to decreasing the volatility of USD/TL exchange rate for the period 2013-2014. We construct four Models where four different variables are separately used that represent the ROM tool, i.e. the amount of FX reserves of CBRT via ROM, and the share of the FX reserves via ROM in Gross FX Reserves of CBRT. Our findings are convincing to say FX facility and the ratio of utilization for the FX facility to ensure the results are statistically meaningful during this period.
Schlagwörter: 
eserve Options Mechanism
Exchange Rate Volatility
Turkish Lira
Tapering
GARCH
JEL: 
E58
F31
E40
E43
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