Describing of central banks’ monetary policy in the context to linear and nonlinear taylor rule: the case of Turkey
Utku Altunöz ()
Additional contact information
Utku Altunöz: Sinop University
Quality & Quantity: International Journal of Methodology, 2022, vol. 56, issue 6, No 32, 4662 pages
Abstract This study analyzes whether the original and expanded Taylor rules are valid in determining policy interest rates, which are used as the main instrument of monetary policy by the Central Bank of the Republic of Turkey (CBRT), which has adopted the inflation targeting regime. In this context, the validity of the original and extended Taylor rules for the 2000–2020 period is analyzed econometrically within the scope of linear and nonlinear time series analysis. According to the results obtained, the Taylor rule is valid in the analysis periods with respect to inflation, production, and foreign currency shortage. These results show that monetary policy strategies are designed within the original and expanded Taylor rules and that money market policy interest rates are determined by considering the changes in inflation, production, and foreign currency shortage.
Keywords: Taylor rule; Monetary policy; ARDL; NARDL (search for similar items in EconPapers)
JEL-codes: E43 E44 E52 E58 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s11135-022-01329-5 Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:qualqt:v:56:y:2022:i:6:d:10.1007_s11135-022-01329-5
Ordering information: This journal article can be ordered from
Access Statistics for this article
Quality & Quantity: International Journal of Methodology is currently edited by Vittorio Capecchi
More articles in Quality & Quantity: International Journal of Methodology from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().