24 research outputs found
Composing a high-frequency financial conditions index and the implications for economic activity
In this study, we construct an index using high-frequency data related to financial markets and intermediation services in Turkey, called the High-Frequency Financial Conditions Index, employing alternative statistical techniques for the period from 2006 to 2020. We also analyze the informative nature of the indices constructed with respect to the course of economic activity. Additionally, we perform a detailed empirical analysis of the relationship between financial conditions and growth tendencies. The results of the time-series analysis show that the series constructed are quite informative for monitoring economic activity. In this context, probit model estimations indicate that the index constructed can be used as an early indicator to predict “loss of momentum” episodes in economic growth, taking the lead-lag relationship into consideration. When a similar methodology is applied to emerging market economies, indices exhibit a high level of comovements with growth indicators. Panel vector autoregression estimation shows that, after country-specific characteristics are controlled for, a shock to financial conditions facilitates a significant response in the growth rates of emerging market economies. In terms of policy making, the indices can contribute to a better understanding of the financial outlook and its interaction with economic activity.Publisher PDFPeer reviewe
Composing a high-frequency financial conditions index and the implications for economic activity
In this study, we construct an index using high-frequency data related to financial markets and intermediation services in Turkey, called the High-Frequency Financial Conditions Index, employing alternative statistical techniques for the period from 2006 to 2020. We also analyze the informative nature of the indices constructed with respect to the course of economic activity. Additionally, we perform a detailed empirical analysis of the relationship between financial conditions and growth tendencies. The results of the time-series analysis show that the series constructed are quite informative for monitoring economic activity. In this context, probit model estimations indicate that the index constructed can be used as an early indicator to predict “loss of momentum” episodes in economic growth, taking the lead-lag relationship into consideration. When a similar methodology is applied to emerging market economies, indices exhibit a high level of comovements with growth indicators. Panel vector autoregression estimation shows that, after country-specific characteristics are controlled for, a shock to financial conditions facilitates a significant response in the growth rates of emerging market economies. In terms of policy making, the indices can contribute to a better understanding of the financial outlook and its interaction with economic activity
Effect of pregnancy on the course of immune thrombocytopenia: a retrospective multicenter study
Staphylococcal Endocarditis Presenting with a Renal Infarct in a Patient with Acute Lymphoblastic Leukemia
We present here a patient with acute lymphoblastic leukemia (ALL) and who developed infective endocarditis during induction chemotherapy with prednisolone, L-asparaginase (Leunase®), vincristine and adriamycin. The patient did not have a history of a central venous catheter. Sharp flank pain and fever occurred on the 25th day of induction chemotherapy. In addition, a renal infarct and movable vegetations on the mitral valve were detected on the abdominal computed tomography (CT) and echocardiography. S. aureus was identified in the cultured blood. While the patient achieved remission, follow-up echocardiography revealed the vegetation had increased in size and an abscess pocket had developed despite the antibiotics and heparin therapy. Consequently, ten days after the diagnosis of infective endocarditis, a successful mitral valvuloplasty was performed without complications. The patient is currently on maintenance chemotherapy while in remission