Turkiye Cumhuriyet Merkez Bankasi Bagimsizligi Enflasyonist Etki Yaratir mi?
Istanbul University Econometrics and Statistics e-Journal, 2013, vol. 18, issue 1, 35-55
In this study, the disinflationary effects of central bank independence of the Central Bank of Turkey (CBT) on inflation is examined within the framework of the co-integration analysis and Vector Error Correction (VECM) for the time period 1990: Q1 - 2012: Q4. According to the findings of the econometric model estimated, an increment in the independence of the central bank pulls down average inflation 18-21 %. However, according to the findings of the study in the short-term central bank independence is not a determinant of inflation.
Keywords: Central Bank Independence; Inflation; VECM; Co-integration (search for similar items in EconPapers)
JEL-codes: E52 E58 E31 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:ist:ancoec:v:18:y:2013:i:1:p:35-55
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