Bu çalışmada, uluslararası finans piyasalarının üç önemli endeksi olan VIX, ABD dolar ve MOVE endekslerinin, gelişmiş ve gelişmekte olan ülke döviz kurları üzerindeki etkileri incelenmektir. Bu ...amaçla çalışmada, 01 Mayıs 2013 ile 11 Mayıs 2017 tarihleri arasındaki 1007 adet günlük veriler kullanılarak, VIX, ABD dolar ve MOVE endekslerinin, Avrupa Ortak Para Birimi (Euro), Brezilya, Endonezya, Hindistan, Güney Afrika, Japonya, Macaristan, Polonya, Rusya ve Türkiye ülkelerinin döviz kurları üzerindeki nedensellik ilişkisi analiz edilmektedir. Granger nedensellik testi kullanılan çalışma sonucuna göre; VIX endeksi, Euro, Macaristan forinti, Endonezya rupisi, Japon yeni ve Polonya zlotisi döviz kurlarının; ABD dolar endeksi, Brezilya reali ve Japon yeni döviz kurlarının; MOVE endeksinin ise Hindistan rupisi ve Rus rublesi döviz kurlarının Granger nedeni olduğu tespit edilmiştir.Bu çalışmada, uluslararası finans piyasalarının üç önemli endeksi olan VIX, ABD dolar ve MOVE endekslerinin, gelişmiş ve gelişmekte olan ülke döviz kurları üzerindeki etkileri incelenmektir. Bu amaçla çalışmada, 01 Mayıs 2013 ile 11 Mayıs 2017 tarihleri arasındaki 1007 adet günlük veriler kullanılarak, VIX, ABD dolar ve MOVE endekslerinin, Avrupa Ortak Para Birimi (Euro), Brezilya, Endonezya, Hindistan, Güney Afrika, Japonya, Macaristan, Polonya, Rusya ve Türkiye ülkelerinin döviz kurları üzerindeki nedensellik ilişkisi analiz edilmektedir. Granger nedensellik testi kullanılan çalışma sonucuna göre; VIX endeksi, Euro, Macaristan forinti, Endonezya rupisi, Japon yeni ve Polonya zlotisi döviz kurlarının; ABD dolar endeksi, Brezilya reali ve Japon yeni döviz kurlarının; MOVE endeksinin ise Hindistan rupisi ve Rus rublesi döviz kurlarının Granger nedeni olduğu tespit edilmiştir.
Mladen Dolar's theorization of voice is one that, in addition to its significance and aesthetics, posits a third faculty: voice as object. As a primary locus for the Lacanian objet petit a, an ...understanding of voice as object underscores the role of desire in hearing bodily sound. This essay turns to the striking sonorities of two public intellectuals, Gore Vidal and William F. Buckley Jr., to demonstrate the effects of this object voice, reducible neither to what it says nor what it sounds like.
Critics of Louis Althusser ask why an interpellated individual turns around. With this question, Mladen Dolar, among others, tries to establish the intermediary stage of "belief before belief" or ..."subject before subject." However, Althusser's position is that such a circularity of "X before X" is not the cause but the retroactive effect of interpellation: the subject teleologically projects the imposed identity to its eternal past, thereby falling into the illusion of causa sui (the subject before itself). In this regard, Althusser's position is not so different from Jacques Lacan's. Applying a double standard to them, Dolar betrays Lacan's own logic of retroaction and regresses into the logic of inception. Judith Butler clearly recognizes the ontological impossibility of positing subject before subject, but she wants to reserve the tropological possibility of designating one and attempts to turn this possibility into the source of resistance. This article investigates why Althusser did not choose to go this way.
Employing a sci-fi inspired aesthetic, queer, black, trans artist, boychild presents audiences with a future vision of human embodiment. Strobe lighting makes her appear fragmented or as if she were ...a hologram. An electronic light flickers behind her teeth. Her eyes are obscured by whited-out contact lenses. boychild's is a body interfaced with technology. She is imaged as non-human, cyborgian. Whilst boychild considers her onstage persona to be female, her body reads ambiguously. Transgressing demarcations between the supposedly polarised categories of organic/machine, male/female, the queer form of embodiment she presents is posthuman. Implementing the theoretical principles of Rosi Braidotti's anti-humanist concept of the posthuman and Donna Haraway's cyborg politics, I argue that boychild's engagement with the posthuman does not end with aesthetics, rather it extends to the plotting of a posthuman politics, posing a radical challenge to heteronormative body politics. Theorising boychild's lip-synch performances, I argue for her style of performance as a technologised form of ventriloquism, as she 'speaks' with the voice of another or the voice of another speaks through her. Using Mladen Dolar's and Slavoj Žižek's psychoanalytical philosophies in conjunction with Steven Connor's literature on ventriloquism, I unpick the intricacies of presence and power inherent to her 'voice' and indicate its broader political implications.
This article aims to discuss the idea of nature, forms and mechanisms of international currency. It presents the evolution of the main forms of global currency. Furthermore the benefits and risks ...coming from the currency seigniorage are studied.
In this article I focus on a "set" of four paintings by Diego Velázquez that form part of his contribution to the interior decoration of the Torre de la Parada. Developing upon Lacan's response to ...Foucault's famous commentary on Las Meninas I argue that Velázquez's modernity is nowhere more marked than in this set of paintings in which an unprecedented focus is directed towards the liminal figure of the court dwarf. Reading these works as displaced portraits of the King, I suggest that with them Velázquez encountered a certain impossibility in the process of representation. In following Lacan on the uncanny, and by drawing attention to the significance of Velázquez's depiction of his subjects' hands in these paintings, I propose that the uncanny presence of these dwarfs should be understood via Lacan's concept of the objet a: an impossible object that has no place in given reality and that arises from the failure of the painter's act of inscription.
The article examines how the deepening of the world economic crisis impacts
global financial flows and performance of international financial
institutions, with focus on two issues: 1) did the ...decrease of the Euro means
the beginning of the global currency war?; 2) is there any sort of banks?
?conspiracy? in the world gold market? Long-term financial crisis demands a
decisive reform measure to mend the functioning and structure of the IMF,
World Bank Group and other global and regional financial institutions. This
means that the outcome of their policies has been inadequate, so far, and
that their role is subjected to a critical observation in finding an
efficient performance of financial markets. Beijing is becoming more generous
lender for a large number of the low-performing countries, offering them the
significant support in Yuans due to Chinese geopolitical interests. China and
Russia in the field of economic development are strongly complemented: the
scope of cooperation is very broad, and there is a strong potential for the
establishment of other world currencies, which would suppress the U.S. dollar
as the dominant currency in global commodity and financial transactions. The
authors conclude that the struggle to increase the competitiveness of the
national state, at the expense of others, continues in the era of the deepest
global financial crisis.
Theoretical and empirical analysis of de jure dollarization.With the persistent instability of international financial markets, emerging economies are exploring new ways to reduce exposure to capital ...flow volatility. Some analysts argue that financially open economies are best served by more flexible regimes, while others argue in favor of extreme exchange rate regimes that have a strong commitment to a fixed parity or dispense with an independent currency. The successful launch of the euro has made more realistic the prospect of replacing a national currency with a strong foreign one. Recent examples include the adoption of the US dollar by Ecuador and El Salvador.The introduction of a foreign currency as sole legal tender, termed full (de jure) dollarization, has been the center of much political and academic debate. This book provides a comprehensive analysis of the issues from both theoretical and empirical perspectives. The topics discussed include the role of balance sheet effects, the linkage between currency risk and country risk, the impact of dollarization on trade, financial integration and credibility, the implications of dollarization for the lender of last resort, and the institutional and political economy aspects of dollarization.
Ekonomik ve politik gelişmelere ilişkin beklentiler, dolar kur fiyatını doğrudan etkilemektedir. Finans literatüründe, birçok çalışma beklenmedik olayların hisse senedi fiyatlarını etkisini ...incelemektedir. Ancak Türkiye’de beklenmedik olayların dolarkur fiyatlarına etkisini inceleyen sınırlı sayıda çalışma bulunmaktadır. Bu çalışmanın amacı, 1990-2012 yılları arasında, 2/8/1990 tarihli Kuveyt’in işgali ile başlayıp 6/11/2012 Fitch’in Türkiye’nin kredi notunu arttırması ile sonlanan, beklenmedik olayların Türkiye’de dolar kur fiyatına etkilerini açıklamaktır.Değişkenler arasındaki ilişkiyi incelemek amacıyla, MacKinley (1997) tarafından önerilen olay çalışması yöntemi kullanılmıştır. Elde edilen very iki farklı şekilde analiz edilmiştir: sabit-ortalama getiri modeli (Constant mean return model (CMR)), ortalama-düzeltilmiş getirimodeli (Mean adjusted return model (MAR)). Her iki hesaplama yöntemine göre, özellikle olay sonrası dönemde sonuçlar istatistiki olarak anlamlıdır. Çalışmanınönemi, beklenmedik olayların etrafındaki günlerde anlamlı anormal getirinin olupolmadığını göstererek yatırımcıların alacakları pozisyonlarda yol göstermektir.
Expectations regarding the economical and political changes affect directly dollar selling prices. In the finance literature, many studies reveal the relationship between unexpected events and stock prices. However a few studies investigate such a relationship between unexpected events and dollar selling prices in Turkey. This study aims to explain the effect of unexpected events on dollar selling prices in Turkey, for the period 1990-2012which starts with the ‘The invasion of Kuwait-2/8/1990”and ends with ‘Upgrading of Turkey’s credit rate by Fitch-6/11/2012’. In order to explain the relationship, event study methodology proposed by MacKinley (1997) is used.The data has been analyzed by two different normal return calculation methods: Constant mean return model (CMR), Mean adjusted return model (MAR). According to both calculation methods, in the most of the post-period days the results are statistically significant. The importance of this study is to show whether significant abnormal returns exist around unexpected events which may lead for the position of the investors.
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