EconPapers    
Economics at your fingertips  
 

Acýk Enflasyon Hedeflemesi Doneminde Parasal Aktarim Mekanizmasinin Doviz Kuru Kanali: Turkiye Uzerine Ekonometrik Bir Analiz

Sevda Yaprakli ()
Additional contact information
Sevda Yaprakli: Ataturk University

Istanbul University Econometrics and Statistics e-Journal, 2011, vol. 15, issue 1, pages 15-37

Abstract: The aim of this study is to investigate econometrically with the time series analysis whether it is effectively operating of exchange rate channel of monetary transmission in Turkey. In the study, covering the period of 2006:5-2011:5 that the explicit inflation targeting (IT) is implemented, short time interest rate, real effective exchange rate index, consumer price index (CPI) and real industrial production index variables are used. The results of error correction-augmented Granger causality analysis show that there is bi-directional causality between exchange rate with interest rate and inflation. According to the results of error correction model, exchange rate is negatively affected by short time interest rate while negatively effecting inflation. As a result, all analyses made in the study reflect that the exchange rate channel of monetary transmission in Turkey is effective on inflation.

Keywords: Monetary Transmission Mechanism; Exchange Rate Channel; Time Series Analysis; Turkey’s Economy (search for similar items in EconPapers)
JEL-codes: C32 E52 F31 (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://eidergisi.istanbul.edu.tr/sayi15/iueis15m2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:ist:ancoec:v:15:y:2011:i:1:p:15-37

Access Statistics for this article

Istanbul University Econometrics and Statistics e-Journal is currently edited by Nov

More articles in Istanbul University Econometrics and Statistics e-Journal from Department of Econometrics, Faculty of Economics, Istanbul University Contact information at EDIRC.
Series data maintained by Kutluk Kagan Sumer ().

 
Page updated 2015-09-08
Handle: RePEc:ist:ancoec:v:15:y:2011:i:1:p:15-37