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The main purpose in this paper is to investigate the determinants of inflationary process in Turkish economy. For this purpose, based on some potential causes of inflation, an empirical model is contructed upon emphasizing the roles of various factors on inflationary process. The results...
Persistent link: https://www.econbiz.de/10004971480
We analyze the implications of the time inconsistency problem for the Turkish monetary policy in the last two decades. After deriving the restrictions that the Barro and Gordon model imposes on a time series model for inflation and output, we show that the time inconsistency problem can explain...
Persistent link: https://www.econbiz.de/10004971489
In this paper, we investigate whether the money multiplier process has a stable or forecastable characteristics in Turkish economy. Our estimation results point out that the processes leading to the money supply definitions over the base money indicates an unstable characteristics also...
Persistent link: https://www.econbiz.de/10004977331