Forward Premium Puzzle refers to the widespread empirical finding that the change in the spot price of an exchange rate is negatively related to its forward premium. We propose an ambiguity-based explanation to this puzzle in which spot price moves…
A preliminary data-oriented study for a validated algorithm for the classification SMEs of Türkiye according to various criteria, the outlook of their financial vulnerabilities, identification of systemic influence channels and the development of appropriate policies.
Designing various complex financial products (CCS, FRA, etc.), implementing their algorithms and adapting them to the company's financial structure in order to manage the exchange rate and interest risks that the company is exposed to.
As is the case globally, the decision has been made to terminate LIBOR and its financial contracts in Turkey. The aim of this project is to model and price the TLREF rate proposed in Turkey to replace LIBOR, describe the transition process, and design future TLREF-based derivative products.
This study aims to document the time varying risk premia for market, size, value and momentum factors for Turkish equity market, using a sophisticated conditional asset pricing model and lay out the changing power of state variables in determining the…
Ambiguity plays a significant role in decision making, yet its exact definition and measurement eludes researchers. This study takes a practical approach to view ambiguity as volatility of probabilistic distributions in financial markets and proposes to measure it using high…
Workshops were held in Boston, Paris, and Istanbul with academics from the Sloan School of Management at MIT and experts from the OECD. The topic addressed what needs to be done to improve retirement systems. The project's goal is to design how the aforementioned institutions can collaborate on such an endeavor. The intent and format have been determined.
Türkiye’deki emeklilik sisteminin ve emeklilik fonlarının diğer ülkelerle karşılaştırlması, ekonomik öneminin tespiti ve sektörün doğru şekilde büyüyebilmesi için politika önerilerinin ve modellerin geliştirilmesi