Yıl 2020, Cilt 2 , Sayı 2, Sayfalar 410 - 429 2020-03-13

Financial Stability and Reserve Option Mechanism as Automatic Stabilizer
Financial Stability and Reserve Option Mechanism as Automatic Stabilizer

Bengül Gülümser KAYTANCI [1] , Burak BUYUN [2]


The Reserve Option Mechanism (ROM) is a macro-prudential policy instrument that allows the holding of a certain portion of the Turkish Lira required reserves in foreign currency or gold. This study contains the automatic stabilizer feature of ROM designed by the Central Bank of the Republic of Turkey (CRBT) to provide post-crisis financial stability which investigates through vector error correction (VEC) model. Automatic stabilizer function of ROM was investigated the effect of capital flows, exchange rate and usage of ROM variables on ROM by the impulse response analysis. As a result of impulse response analysis findings show that the ROM works as an automatic stabilizer, but this function is not symmtrical and efficient, and works of ROM will be better with more stable financial system.
The Reserve Option Mechanism (ROM) is a macro-prudential policy instrument that allows the holding of a certain portion of the Turkish Lira required reserves in foreign currency or gold. This study contains the automatic stabilizer feature of ROM designed by the Central Bank of the Republic of Turkey (CRBT) to provide post-crisis financial stability which investigates through vector error correction (VEC) model. Automatic stabilizer function of ROM was investigated the effect of capital flows, exchange rate and usage of ROM variables on ROM by the impulse response analysis. As a result of impulse response analysis findings show that the ROM works as an automatic stabilizer, but this function is not symmtrical and efficient, and works of ROM will be better with more stable financial system.
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Birincil Dil tr
Konular İktisat
Bölüm Research Articles
Yazarlar

Orcid: 0000-0002-8152-8979
Yazar: Bengül Gülümser KAYTANCI (Sorumlu Yazar)
Kurum: Anadolu Universitesi
Ülke: Turkey


Orcid: 0000-0003-2594-7287
Yazar: Burak BUYUN
Kurum: ANADOLU ÜNİVERSİTESİ
Ülke: Turkey


Tarihler

Yayımlanma Tarihi : 13 Mart 2020

Bibtex @araştırma makalesi { bilturk656487, journal = {BİLTÜRK Journal of Economics and Related Studies}, issn = {}, eissn = {2667-5927}, address = {http://dergipark.gov.tr}, publisher = {Fatih DEYNELİ}, year = {2020}, volume = {2}, pages = {410 - 429}, doi = {}, title = {Financial Stability and Reserve Option Mechanism as Automatic Stabilizer}, key = {cite}, author = {Kaytancı, Bengül Gülümser and Buyun, Burak} }
APA Kaytancı, B , Buyun, B . (2020). Financial Stability and Reserve Option Mechanism as Automatic Stabilizer . BİLTÜRK Journal of Economics and Related Studies , 2 (2) , 410-429 . Retrieved from https://dergipark.org.tr/tr/pub/bilturk/issue/52960/656487
MLA Kaytancı, B , Buyun, B . "Financial Stability and Reserve Option Mechanism as Automatic Stabilizer" . BİLTÜRK Journal of Economics and Related Studies 2 (2020 ): 410-429 <https://dergipark.org.tr/tr/pub/bilturk/issue/52960/656487>
Chicago Kaytancı, B , Buyun, B . "Financial Stability and Reserve Option Mechanism as Automatic Stabilizer". BİLTÜRK Journal of Economics and Related Studies 2 (2020 ): 410-429
RIS TY - JOUR T1 - Financial Stability and Reserve Option Mechanism as Automatic Stabilizer AU - Bengül Gülümser Kaytancı , Burak Buyun Y1 - 2020 PY - 2020 N1 - DO - T2 - BİLTÜRK Journal of Economics and Related Studies JF - Journal JO - JOR SP - 410 EP - 429 VL - 2 IS - 2 SN - -2667-5927 M3 - UR - Y2 - 2020 ER -
EndNote %0 BİLTÜRK Ekonomi ve İlişkili Çalışmalar Dergisi Financial Stability and Reserve Option Mechanism as Automatic Stabilizer %A Bengül Gülümser Kaytancı , Burak Buyun %T Financial Stability and Reserve Option Mechanism as Automatic Stabilizer %D 2020 %J BİLTÜRK Journal of Economics and Related Studies %P -2667-5927 %V 2 %N 2 %R %U
ISNAD Kaytancı, Bengül Gülümser , Buyun, Burak . "Financial Stability and Reserve Option Mechanism as Automatic Stabilizer". BİLTÜRK Journal of Economics and Related Studies 2 / 2 (Mart 2020): 410-429 .
AMA Kaytancı B , Buyun B . Financial Stability and Reserve Option Mechanism as Automatic Stabilizer. BILTURK. 2020; 2(2): 410-429.
Vancouver Kaytancı B , Buyun B . Financial Stability and Reserve Option Mechanism as Automatic Stabilizer. BİLTÜRK Journal of Economics and Related Studies. 2020; 2(2): 410-429.