First Author:   Oguzhan Cepni Central Bank of the Republic of Turkey Oguzhan.Cepni@tcmb.gov.tr   Anafartalar Mah. Istiklal, Cad. No: 10, Ulus Altindag Ankara, 06050, Turkey   +90 312 507 7808(Phone) +90 312 507 7808(Fax) Second Author: Doruk Kucuksarac Central Bank of the Republic of Turkey doruk.kucuksarac@tcmb.gov.tr   Anafartalar Mah. Istiklal, Cad. No: 10, Ulus Altindag Ankara, 06050, Turkey   +90 312 507 78 09(Phone)