Kilinc, Mustafa; Tunc, Cengiz - Türkiye Cumhuriyet Merkez Bankası - 2014
This paper tries to identify the monetary policy shocks in Turkey during the explicit inflation targeting period … starting from 2006 using a structural VAR approach. We model Turkey as a small open economy where domestic variables are … activity. Being an open and internationally integrated economy, Turkey is significantly affected by global shocks. A positive …