Topics in Middle Eastern and North African Economies

Document Type

Article

Publication Date

5-1-2017

Abstract

This study aims to analyze the effect of releases of FOMC minutes on the BRICS countries’ asset prices and Turkey’s asset prices. The novel data from minutes, which is set by the Federal Open Market Committee, is taken into account for the FOMC announcements. The sample data for the study also includes asset prices of these countries. In order to measure the volatility, the methodology of GARCH modeling is used in this study. The empirical findings provide important impacts of those FOMC announcements on the mean and volatility of asset prices. The GARCH volatility modeling offers remarkable results in decision-making for financial institutions, investors and policymakers.

Journal Title

Topics in Middle Eastern and North African Economies

ISSN

2334-282X

Publisher

Middle East Economic Association and Loyola University Chicago

Volume

19

Issue

1

Comments

Presentation of the articles in the Topics in Middle Eastern and North African Economies was made possible by a limited license granted to Loyola University Chicago and Middle East Economics Association from the authors who have retained all copyrights in the articles.

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.

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