An Integrated Analysis of Turkish Inflation

Kivilcim Metin Özcan

Oxford Bulletin of Economics and Statistics, 1995, vol. 57, issue 4, 513-31

Abstract: The inflation process in Turkey is investigated utilizing the multivariate cointegration model that is based on the joint analysis of long-run and short-run behavior. Excess demand in each sector--monetary, government, international and labor--as measured by the deviation from the long-run equilibrium is allowed to potentially effect the inflation rate. Excess demand in the government sector is found to be the main determinant of the Turkish inflation rate. Thus, a rate policy implication is that inflation could be reduced rapidly by eliminating the fiscal deficit. Copyright 1995 by Blackwell Publishing Ltd

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:bla:obuest:v:57:y:1995:i:4:p:513-31

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