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dc.contributor.authorYıldırım, Hakan
dc.contributor.authorAlola, Andrew Adewale
dc.contributor.authorSengelen, Hakan Eren
dc.date.accessioned2020-05-24T17:46:00Z
dc.date.available2020-05-24T17:46:00Z
dc.date.issued2020en_US
dc.identifier.issn1472-3891
dc.identifier.issn1479-1854
dc.identifier.urihttps://hdl.handle.net/11363/2162
dc.descriptionDocument Information Language:English Accession Number: WOS:000522766300001en_US
dc.description.abstractThe relevance of gold to the financial market and global economies is responsible for the commodity's (gold) link with financial instruments such as the oil price, currency and gold price, stock index, and other commodities price. In this case, the causal analysis between the interest rate and the gold price has been examined in a novel approach. This study uses the standard Granger causality approach to test the relationship for the economy of Turkey over the period June 1, 2000-June 1, 2017. The results revealed that while gold price depends on daily announcements, demand, and supply, the interest rate depends on some factors such as the monetary policy of the central bank, inflation rate, and different macroeconomic parameters. Thus, the causality between the two financial instruments is observed to be significant. According to the conducted statistical analysis, the interest rate and gold price have interaction between each other. Because there is insufficient evidence in the extant literature that establishes a causality relationship between the two variables, the current study is believed to enhance policy directives and contribute to the financial literature. Considering the peculiar situation of the Turkish financial market, this novel approach presents significant policy directions.en_US
dc.language.isoengen_US
dc.publisherWILEY, 111 RIVER ST, HOBOKEN 07030-5774, NJ USAen_US
dc.relation.isversionof10.1002/pa.2142en_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectInflationen_US
dc.subjectCOINTEGRATIONen_US
dc.subjectPRICESen_US
dc.subjectHEDGEen_US
dc.subjectMODELen_US
dc.titleThe causal nexus of interest rate policy and gold market: The case of Turkeyen_US
dc.typearticleen_US
dc.relation.ispartofJOURNAL OF PUBLIC AFFAIRSen_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.authoridhttps://orcid.org/0000-0002-3271-2841en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US


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