Academic literature on the topic 'Interest rate corridor'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the lists of relevant articles, books, theses, conference reports, and other scholarly sources on the topic 'Interest rate corridor.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Journal articles on the topic "Interest rate corridor"
1
ŞAHİN, Serçin, and Serkan ÇİÇEK. "Interest rate pass-through in Turkey during the period of unconventional interest rate corridor." Quantitative Finance and Economics 2, no. 4 (2018): 837–59. http://dx.doi.org/10.3934/qfe.2018.4.837.
Full text
2
Khishigjargal, Erdenechuluun. "Monetary Policy Transmission under Inflation Targeting in Mongolia." Research in Applied Economics 10, no. 2 (June 10, 2018): 1. http://dx.doi.org/10.5296/rae.v10i2.12950.
Full textAbstract:
This article aims to examine the monetary policy transmission mechanism under the inflation targeting in Mongolia for the period from June 2007 to August 2017 by applying a recursive vector-autoregressive model. Under the inflation targeting framework, the Bank of Mongolia has established the interest rate corridor since February 2013 for the purpose of improving the interest rate channel of the transmission mechanism. The study then contributes to the literature by assessing whether the interest rate corridor has really improved the policy rate transmission effects by comparing the effects between the pre-corridor period (from June 2007 to February 2013) and the post-corridor period (from March 2013 to August 2017). The main findings of this study are as follows. First, in the post-corridor period the effect of policy rate is clearly transmitted to the lending rate and inflation rate through the responses of interbank market rate, whereas the pre-corridor period does not represent any significant interest rate transmission effects. This outcomes implies that the interest rate corridor has contributed to enhancing monetary policy transmission mechanism. Second, the responses of exchange rate and industrial production to the policy rate shock are not significant even after the adoption of the interest rate corridor. This insignificance might come from the stick policy rate to stabilize the exchange rate, so-called a “fear of floating”.
3
Küçük, Hande, Pinar Özlü, İsmaİl Anil Talaslı, Deren Ünalmış, and Canan Yüksel. "INTEREST RATE CORRIDOR, LIQUIDITY MANAGEMENT, AND THE OVERNIGHT SPREAD." Contemporary Economic Policy 34, no. 4 (December 21, 2015): 746–61. http://dx.doi.org/10.1111/coep.12165.
Full text
4
楚, 义芳. "A Modeling and Empirical Test of China Interest Rate Corridor." Finance 07, no. 03 (2017): 176–90. http://dx.doi.org/10.12677/fin.2017.73019.
Full text
5
et al., Yilmaz. "The impact of interest rate corridor on monetary policy efficiency: VEC Granger causality evidence from the central bank of the Republic of Turkey." International Journal of ADVANCED AND APPLIED SCIENCES 8, no. 9 (September 2021): 75–78. http://dx.doi.org/10.21833/ijaas.2021.09.010.
Full textAbstract:
This paper aimed to analyze the impacts of interest rate corridor policy on monetary efficiency in Turkey, applying the Error Correction Model and VEC Granger causality. The data set consisted of 108 observations for each time series from May 2010 to December 2019. The Granger causality test results indicated a significant impact of the borrowing rate on the inflation rate. Response function revealed that a change in the borrowing interest rate affected the opposite way in the inflation rate with a 3-month lag. An increase in the lending rate caused an increase in the BIST 100 index value. It is concluded that the interest rate corridor implementation successfully increased the flexibility and effectiveness of the monetary policy in Turkey.
6
AYSAN, AHMET FARUK, SALIH FENDOĞLU, and MUSTAFA KILINÇ. "MACROPRUDENTIAL POLICIES AS BUFFER AGAINST VOLATILE CROSS-BORDER CAPITAL FLOWS." Singapore Economic Review 60, no. 01 (March 2015): 1550001. http://dx.doi.org/10.1142/s0217590815500010.
Full textAbstract:
This paper investigates the effectiveness of macroprudential policies introduced by Turkey in late 2010. The unprecedented quantitative easing policies of advanced countries after the global financial crisis have presented serious financial stability concerns for most emerging countries including Turkey. To cope with these challenges, Turkey has devised new policy tools such as asymmetric interest rate corridor and reserve option mechanism. From the perspective of capital flows, the interest rate corridor works mainly through stabilizing supply of foreign funds, and the reserve option mechanism through decreasing the sensitivity of equilibrium exchange rate to shifts in the demand for foreign funds. Using a large panel of 46 countries and employing [Bruno and Shin (2013a). Capital flows, cross-border banking and Global liquidity. Working paper, Princeton university; Bruno and Shin (2013b). Assessing macroprudential policies: Case of Korea. Working paper, Princeton university] methodology, we investigate whether the new policy framework in Turkey has been successful in cushioning the economy from volatile cross-border capital flows from a comparative perspective. The results show that, after controlling for a set of domestic and external variables and relative to a group of advanced and emerging countries, cross-border capital flows to Turkey have been less sensitive to global factors after the implementation of macroprudential policies.
7
Song, Jingni, Feng Chen, Qunqi Wu, Weiyu Liu, Feiyang Xue, and Kai Du. "Optimization of Passenger Transportation Corridor Mode Supply Structure in Regional Comprehensive Transport Considering Economic Equilibrium." Sustainability 11, no. 4 (February 22, 2019): 1172. http://dx.doi.org/10.3390/su11041172.
Full textAbstract:
Reasonable transportation network layoutsarecritical for optimizing a comprehensive transport system. With the gradual development of a transportation industry from quantitative expansion to structural optimization, and transformation of various transportation modes from independent operation to integrated development, traditional comprehensive transport planning theories and methods have not adapted. In thispaper, a new planning concept is proposed from the perspective of economic equilibrium with theaim ofoptimizing a supply structure for a comprehensive transport passenger transportation corridor. An in-depth analysis was conducted of the internal mechanism of the dynamic equilibrium between supply and demand of this corridor,wherein the maximum of the globaltransportation demand subjectcustomer surplus wastaken as a target function, respective interest functions of a demand subject and a supply subject served as constraints to quantitatively optimize the supply structure of the passenger transportation corridor in comprehensive transport, and a Gradient Descent algorithmwasdesigned. The results show that the proposed model better reflectstheeconomic operation mechanism of a passenger transportation market in a comprehensive transport corridor (CTC), and prove that the supply structure of CTC is closely related to passenger flow, travel value distribution, a supply subject's scale rate of return,and travel time. These research results have important academic values in terms of improving passenger transportation corridor structure optimization in region-specific comprehensive transport that conforms to a market economy mechanism. This concept can be extended from single corridor planning to point-to-point and door-to-door transportation supply structure planning, andto comprehensive transport network planning and urban transportation planning without loss of generality.
8
Turguttopbas, Neslihan. "Perspectives on Monetary Policy and Cost of Capital: Evidence from Turkey." Journal of Central Banking Theory and Practice 6, no. 2 (May 1, 2017): 45–64. http://dx.doi.org/10.1515/jcbtp-2017-0012.
Full textAbstract:
Abstract The target of monetary policy is generally set as to create an environment of manageable employment and affordable long-term interest rates. However, priorities of central banks may differ depending on economic and financial circumstances of individual countries. Modern approaches to monetary policy transmission can be grouped under two headings, Money View and Credit View. The money view concentrates on interest rates to explain the effects of monetary policy on aggregate spending by creating an interest rate channel. The credit channel transmission approach focuses on the supply of credits by banks following a monetary policy shift in interest rates. In 2010, the Central Bank of Turkey (CBT) developed an interest rate corridor shaped by one-week and overnight repo lending to the financial banks to absorb excessive volatility caused by short-term capital inflows. Under this framework, the CBT implements its monetary policy in two ways; firstly it can alter the interest rates of weekly repo as well as O/N lending rate. Secondly, it can configure the funding structure it provides to the financial intermediaries. In such a framework, the interest rate transmission mechanism has been operated by two benchmark interest rates, one of which is the weighted average of the cost of funds provided by the CBT and the other is the interest rate in Borsa Istanbul (BIST) money market transactions at an overnight maturity. There is a strong co-movement between the interest rates and they are affected by the movements in the CBT lending rate in both directions. Interest rates applied to deposits and loans by banks are affected by the policy rate (CBT Average Funding Rate) and the market rate (BIST O/N Repo Rate).
9
Yılmaz, Muhammed Hasan. "Factors Impacting Bank Net Interest Margin and the Role of Monetary Policy: Evidence from Turkey." International Journal of Finance & Banking Studies (2147-4486) 6, no. 2 (October 20, 2017): 1. http://dx.doi.org/10.20525/ijfbs.v6i2.715.
Full textAbstract:
<p><em>In this study, we investigate factors affecting net interest margin (NIM) of commercial banks in Turkey. Especially, our results highlight the relation between unconventional monetary policy shocks and bank margins. To this end, first, we conduct an identification analysis about which parameters of asymmetric interest corridor framework are important in explaining variations in NIM. Using industry-level data, we show that there exists a pass through from BIST interbank overnight repo/reverse repo market rate and weighted average cost of funding (WACF) to bank loan and deposit rates. As a result of reduced-form Vector Autoregression (VAR) analysis we find the existence of a transmission mechanism from BIST rate and WACF to commercial loan rate, consumer loan rate and deposit rate. Same pass through to loan and deposit rates is also shown in individual bank level with the Panel Vector Autoregression (Panel VAR) analysis in the case of 16 commercial banks in Turkey during the period 2011Q1-2016Q1. After the identification analysis, we examine the relationship between NIM and policy rates through System Generalized Method of Moments (GMM) techniques by controlling bank specific, industry related and macroeconomic factors. We find that a change in the monetary policy rate has significant and positive impact on NIM. Among bank-specific factors, equity ratio and operating expenses are found to be significantly affecting NIM during the sample period. Our empirical findings also stress the significance of lag values of NIM. Estimations conducted with standardized variables indicate that economic significance of lag values and bank specific variables are larger than that of policy.</em></p>
10
Goryunov, E., S. Drobyshevsky, and P. Trunin. "Monetary Policy of Bank of Russia: Strategy and Tactics." Voprosy Ekonomiki, no. 4 (April 20, 2015): 53–85. http://dx.doi.org/10.32609/0042-8736-2015-4-53-85.
Full textAbstract:
In recent years Bank of Russia has made several major changes in its monetary regime, including elimination of the exchange rate corridor and introduction of the key rate as the main monetary policy instrument. The article discusses these developments in the context of long-term priorities of the monetary authority. We put emphasis on the extent to which monetary policy should stimulate economic growth and assess whether the policy of the Central Bank of RF was excessively tight in 2010-2014. In order to do that we use the real interest rate on short-term loans in the interbank market as an indicator of monetary policy tightness. Cross-country comparisons together with the analysis of dynamics of selected indicators suggest that Bank of Russia’s policy was rather soft. We conclude with comments regarding tactics of monetary policy under current turbulent macroeconomic conditions.
Dissertations / Theses on the topic "Interest rate corridor"
1
Senyarar, Bayrak Ipek. "An Assessment Of The Policy Shifts Of The Turkish Central Banking Since 2001." Master's thesis, METU, 2013. http://etd.lib.metu.edu.tr/upload/12615464/index.pdf.
Full textAbstract:
The understanding of central banking has evolved several times in the history. Different economic and political conditions shaped the structure of monetary policy and the stance of central banks. The Central Bank of Republic of Turkey (CBRT) also has experienced several reactionary policy shifts throughout its history. Nowadays, majority of central banks have started to follow financial stability programs after the Global Financial Crisis of 2008-09. The CBRT was one of the followers of financial stability targeting and has started to implement a new monetary policy structure after the Global Financial Crisis. The new monetary policy of the CBRT in which the financial stability was put nearby price stability came up with new challenges. Therefore in this thesis, we elaborate on the challenges of the CBRT and propose policy suggestions for the possible deficiencies of the new structure of the CBRT. We argue that the experiences of the CBRT in the inflation targeting period and the macroeconomic conditions of both during and post crisis period have shaped the new structure of the monetary policy, and the new policy mix of the CBRT may not be successful in all its targets at the same time because of the existence of &ldquomacroeconomic quadrilemma&rdquo
tradeoffs as well as because of the ineffectiveness of the tool portfolio of the CBRT.
Book chapters on the topic "Interest rate corridor"
1
Gumata, Nombulelo, and Eliphas Ndou. "Is the Interest Rate Corridor an Effective Instrument to Dampen the Accumulation of Excess Reserves and the Inter-bank Rate Volatility?" In Achieving Price, Financial and Macro-Economic Stability in South Africa, 235–64. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-66340-7_15.
Full text
2
Kurum, Mustafa Eser, and Suat Oktar. "The Role of Central Bank in Competitive Environment." In Advances in Marketing, Customer Relationship Management, and E-Services, 383–411. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-2559-3.ch018.
Full textAbstract:
This chapter evaluates the macroeconomic impact of the interest rate corridor policy implemented by the central bank in Turkey. In this context, firstly the general framework, types and application of interest rate corridor policy are explained. Then, the interest rate corridor policy implemented by the CBRT after the global crisis was examined in detail. In addition, domestic and foreign literature examining the macroeconomic effects of the interest rate corridor policy has been included. This chapter examines the macroeconomic impact of the interest rate corridor policy implemented in Turkey using data from the 2011-2018 period. In the study, Engle-Granger Cointegration Analysis and Toda-Yamamoto Causality Analysis were used as models. As a result of the study, it was concluded that interest rate corridor had an effect on economic growth, foreign direct investment, and exchange rate variables.
3
Bindseil, Ulrich. "Standing Facilities and the Interest Rate Corridor." In Monetary Policy Operations and the Financial System, 70–83. Oxford University Press, 2014. http://dx.doi.org/10.1093/acprof:oso/9780198716907.003.0007.
Full text
4
Hanson, Royce. "Trials in Corridor City Planning." In Suburb. Cornell University Press, 2017. http://dx.doi.org/10.7591/cornell/9781501705250.003.0007.
Full textAbstract:
This chapter examines the problems that arose during the planning and development of three corridor cities in Montgomery County: Rockville, Gaithersburg, and Germantown. The idea of corridor cities melded the interests of Montgomery's miniature and commercial republics—a rare consensus in land use policy. According to the General Plan, Rockville, Gaithersburg, and Germantown would each be developed as a complete, compact “new town.” The chapter considers the opposition of the municipalities of Rockville and Gaithersburg to the idea of becoming corridor cities and how the problem of many governments obstructed development in accord with the General Plan (although Rockville eventually evolved in a way close to the vision). Germantown presented a different problem, that of many builders without a coordinating master developer. Rockville, Gaithersburg, and Germantown offer lessons on the effectiveness and limitations of using infrastructure extension and regulations to manage the pace and character of development.
Conference papers on the topic "Interest rate corridor"
1
Tufaner, Mustafa Batuhan, Kamil Uslu, and İlyas Sözen. "The Effect of the Interest Rate Corridor Implementation to Central Bank Policies." In International Conference on Eurasian Economies. Eurasian Economists Association, 2016. http://dx.doi.org/10.36880/c07.01666.
Full textAbstract:
Central banks fulfill missions like financing governments, contributing the improvement of the financial market and implement monetary policy. Because of these important functions, instruments of the central bank has become a subject of ongoing debate over the years. The Central Bank's monetary policies instruments are important in terms of achieving the set macroeconomics targets. In recent years to become a major focus of attention of the interest rate corridor instrument has led to examine the structure of the central banks. The interest rate corridor primarily, provides flexibility advantages through interest rate to the central banks. The opinion that the central banks which have a flexible structure are more successful on ensuring the price stability and implementing macro policies with evading the political effects became stronger. In this context, in this study to examine the contributions of a flexible central bank to price stability and financial stability. In this bulletin different policy instruments of central banks are compared and critically assessed various determinants of central bank flexibility. In addition, comparing of the legislation of major central banks and various interest rate corridor implementations are examined.
2
Louie, David L. Y., Samir El-Darazi, Lyndsey M. Fyffe, and James L. Clark. "MELCOR Validation Study on Multi-Room Fire." In 2020 International Conference on Nuclear Engineering collocated with the ASME 2020 Power Conference. American Society of Mechanical Engineers, 2020. http://dx.doi.org/10.1115/icone2020-16562.
Full textAbstract:
Abstract Estimation of radionuclide aerosol release to the environment, from fire accident scenarios, are one of the most dominant accident evaluations at the U.S. Department of Energy’s (DOE’s) nuclear facilities. Of particular interest to safety analysts, is estimating the radionuclide aerosol release, the Source Term (ST), based on aerosol transport from a fire room to a corridor and from the corridor to the environment. However, no existing literature has been found on estimating ST from this multi-room facility configuration. This paper contributes the following to aerosol transport modeling body of work: a validation study on a multiroom fire experiment (this includes a code-to-code comparison between MELCOR and Consolidated Fire and Smoke Transport, a specialized fire code without radionuclide transport capabilities), a sensitivity study to provide insight on the effect of smoke on ST, and a sensitivity study on the effect of aerosol entrainment in the atmosphere (puff and continuous rate) on ST.
3
Prasun, Samir, and Andrew K. Wojtanowicz. "Statistical Assessment of Alternative Methods for Well Recovery Estimation in Naturally Fractured Reservoirs With Fracture Corridors." In ASME 2020 39th International Conference on Ocean, Offshore and Arctic Engineering. American Society of Mechanical Engineers, 2020. http://dx.doi.org/10.1115/omae2020-19355.
Full textAbstract:
Abstract Reliable predictions of well recovery are crucial for designing reservoir development. In the bottom-water naturally-fractured reservoirs (NFRs), comprising a network of distributed fracture “corridors,” spacing (and apertures) of the corridors varies throughout the reservoir. This makes oil well’s recovery a probabilistic variable as it depends upon uncertain well’s location in the network. The uncertainty is two-fold; it concerns well’s location within corridor network and well’s possible intersection with the nearest corridor. In any network’s location (with closely- or sparsely–spaced corridors), wells may intercept fracture corridors (fracture well) or go in-between two corridors in a matrix block (matrix-well). A simplified way of estimating well recovery is to ignore well’s location within corridor network and consider only probability and performance of fracture well and matrix well in a statistically-equivalent reservoir with uniform spacing and aperture equal to their expected values derived from their known statistics. Another (fully probabilistic) method considers the combined probabilities of the well’s location in the network and being a fracture well or matrix well. The study evaluates discrepancy between the two methods, explains its statistical nature, and demonstrates their implementation in a corridor-type NFR described in the literature. In the study, recovery process is simulated by coupling the inner (near-well) zone’s discrete single-porosity flow model with the outer zone Dual Porosity Dual Permeability (DPDP) simulator. The matrix well’s inner zone extends from the well to the nearest corridor and for the fracture well inner zone covers the corridor and adjacent matrix blocks. In the simulations, matrix and fracture-wells are operated at maximum rate constrained by minimum downhole flowing pressure and the surface handling limit. The study is performed using statistical data from a corridor-type NFR with power-law-distributed spacing size from 19 ft to 153 ft and corridor apertures varying from 8ft to 31ft correlated with the spacing. The simplified method gives recovery values ranging from 28% to 37%, and the single value of total recovery 33% — normalized by the matrix and corridor size fractions of the total reservoir area. Alternatively, the probabilistic method gives two separate distributions of the fracture and matrix wells’ recoveries that are weighted by their probability and converted to a single distribution of total recovery using statistical concept of weighted average. The probabilistic estimation gives higher values of recovery — from 32% to 38% with the expected value of 36.6%. Moreover, there is a considerable 30% probability of having recovery greater than 36.6%. A mathematical proof provides explanation why the probabilistic method gives recovery estimate greater than that from the simplified method. Another advantage of the method is the cumulative probability plot of well recovery that, in practical applications, would let operators make reservoir development decisions based upon the risk-benefit consideration.
4
Bhosale, Prashant V. "Modeling of Motorcycle Anthropometric Test Device Neck Using Reverse Engineering Technique." In ASME 2008 International Mechanical Engineering Congress and Exposition. ASMEDC, 2008. http://dx.doi.org/10.1115/imece2008-66896.
Full textAbstract:
In developing countries like India there are very limited resources for conducting actual crash tests on a motorcycle with dummy installed and it is also rare to get the design details of every object used in the actual crash tests conducted elsewhere in the world. With these limitations, safety of motorcyclist was studied using Finite Element (FE) Analysis and FE models of the objects under consideration were developed by reverse engineering technique wherever possible. In contrast to automobile occupants, a motorcyclist is unconstrained and can follow enumerable trajectories depending on the crash scenario. Airbag as a safety device for motorcyclist is under consideration for reducing fatality of the motorcyclist during the crash [1]. To arrive on any conclusion with reasonable accuracy on injury prediction for motorcyclist exposed to deploying airbags, the dummy neck construction should be more biofidelic in nature. This led to development of the Motorcycle Anthropometric Test Device (MATD) neck, which can accommodate different postures of the motorcyclist. The FE model of MATD neck was developed using HyperMesh™ [2] by estimating dimensions of each part of the MATD neck from the photographs available and following construction details specified in ISO13232 standards [3]. Overall performance of the MATD neck is dependent on the properties of mid section four rubber disks made up of Adiprene polyurethane material [4]. The material properties of different grades of Adiprene polyurethane available on internet site of the Crompton Corporation [5] were input to the MATD neck model with constraint that the weight of the MATD neck remains 1.55±0.1kg. Simulations for various tests specified in ISO13232 were run using Pamcrash™ [6]. Finally it was found that the MATD neck model satisfied all the corridors specified for Frontal Flexion, Extension, Lateral Flexion and Torsion tests as mentioned in ISO13232 standards when Adiprene LF1700A material properties were used for four mid section rubber disks.