Inflation aversion in Turkey

Deniz Nebioğlu and Barış Soybilgen

Economic Systems, 2023, vol. 47, issue 4

Abstract: Inflation has been at the center of policy debates in Turkey since the 1970s. Although the country experienced a rapid disinflation period during the early 2000s, Turkish inflation has always remained high compared to other developing countries. Disinflationary policies require a long-run commitment of policymakers backed by public consensus and strong institutions. In this paper, we aim to understand the factors that shape the public attitudes of Turkish citizens towards inflation for the period between 2004 and 2020 using Eurobarometer data. We find that belonging to a vulnerable class increases the probability of being inflation averse, while favorable expectations for the future, being on the right of the political spectrum, and trust in politicians decrease inflation aversion.

Keywords: Inflation aversion; Unemployment aversion; Central Bank communication; Monetary Policy; Turkey (search for similar items in EconPapers)
JEL-codes: E24 E31 E52 E58 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecosys:v:47:y:2023:i:4:s0939362523000869

DOI: 10.1016/j.ecosys.2023.101147

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