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The effectiveness of the monetary transmission mechanism channel in Turkey

Fatih Okur (), Ömer Akkuş () and Atakan Durmaz ()
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Fatih Okur: Bayburt University, Bayburt, Turkey
Ömer Akkuş: Gümüşhane University, Gümüşhane, Turkey
Atakan Durmaz: Samsun University, Samsun, Turkey

Eastern Journal of European Studies, 2019, vol. 10(1), 161-180

Abstract: This study investigates on which channels the monetary transmission mechanism works effectively. In this context, quarterly data for the period 2005-2017 is used for Turkey and the variables used to determine the efficiency of the monetary transmission mechanism are analyzed by the VAR method. The obtained results indicate that the loans and reserves have a more effective role on the inflation as a channel of the monetary transmission mechanism. According to the long run results, while the exchange rate and reserves channel have a negative effect on the real GDP, it is revealed that loans have a positive effect on the real GDP in the long run stabilization.

Keywords: monetary transmission mechanism; credit channel; inflation; monetary policy (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:jes:journl:y:2019:v:10:p:161-180