Seküler durgunluk hipotezi üzerine üç deneme

In this thesis, The Secular Stagnation hypothesis is investigated from emerging and developed markets perspectives. The first chapter investigates the contagiousness of safe asset shortages as an implication of the secular stagnation hypothesis. Our motivation is to quantify the degree of financial contagion of safe asset demand among developed and emerging markets. In the second chapter, inspired by the universal law of gravitation, a new metric to measure the financial distance of countries has been created. In this metric, financial distance is directly related to Credit Default Swap (CDS) Spreads and is inversely associated with the Foreign Exchange (FX) Rate. The new metric has been used to optimize the hedging global fixed income portfolios. The third chapter aims to provide a new financial gravity framework to understand the nature of dependency on US monetary policy and its results. This thesis provides significant theoretical and empirical take aways by analyzing different aspects of secular stagnation hypothesis.