Parasal Analize Bir Bakis: Turkiye Ornegi

Kazim Özdemir

Central Bank Review, 2011, vol. 11, issue 2, 29-48

Abstract: The primary goal of this study is to introduce monetary analysis for the Turkish economy in the light of empirical evidences that demonstrate the importance of this analysis for the economy. In the study we also focus on the implication of persistent money supply shocks, particularly shocks that are emanating from fiscal policies, on the Turkish economy by using a monetary disequilibrium model. Results show that if the government adopts a fiscal rule, as it is detailed in the study, instead of the current fiscal policies, then the Turkish economy attains a lower budget deficit, inflation and interest rates, but appreciated Turkish lira in the long-run. Additionally, this fiscal move may cause reductions in the real output growth in the short run, but the contractionary effects seem to be very limited over the long-run.

Keywords: Monetary aggregates; Monetary indicators; Monetary disequlibrium models; Fiscal rule (search for similar items in EconPapers)
JEL-codes: C50 E31 E40 E51 E52 E58 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:tcb:cebare:v:11:y:2011:i:2:p:29-48

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