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...

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...

In our paper, we employ multivariate cointegration analysis to the Turkish M1 narrow money demand. The ex-post estimation results reveal that it is possible to identify a money demand vector in the cointegrating space as a priori hypothesized through economics theory. But some structural break...

Monetary transmission mechanism (MTM) is an illuminating policy tool in appreciating the monetary policy implementations by policy makers upon various nominal and real factors of interest in the eyes of economic agents. Especially in an open economy such as Turkish economy highly exposed to the...

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...

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...

This paper examines whether the money multiplier processes in the Turkish economy is stable and can be forecasted. Research results using quarterly frequency data for the 1987Q1 – 2009Q4 investigation period show that the processes which convert the base money supply aggregates into the final...

This paper aims to test the prevalence of the Lucas critique by use of an applied modelling approach. The Turkish narrow money demand is chosen for investigation purposes and an extensive statistical-based econometric application has been carried out to observe whether the model in question has...

This paper aims to test the prevalence of the Lucas critique by use of an applied modelling approach. The Turkish narrow money demand is chosen for investigation purposes and an extensive statistical-based econometric application has been carried out to observe whether the model in question has...

In our paper, we investigate exchange rate determination mechanism of TL/US$ for the 1987Q1-2006Q4 period using quarterly observations. Following a large literature review we first highlight various approaches explaining monetary model exchange rate determination based on economic fundamentals...