Parasal büyüme ve tüketici enflasyonu değişim oranı arasındaki nedensellik ilişkisi üzerine bir deneme: Türkiye örneği

An essay upon the causality relationship between the monetary growth and the change in inflation: the case of Turkey

Levent Korap ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper the causality relationships between the inflationary process, experienced by the Turkish economy, and some main money supply measures have been tried to be investigated, and the direction of these relationships has also been aimed to be determined through the vector autoregression impulse-response function estimates. Our findings in general indicate that the course of inflationary framework seems to be exogenous as to the course of the monetary aggregates, and that the course of the monetary aggregates seems to be endogenous as to the course of the inflation. Moreover, impulse-response function estimates have been found supportive to these results. All in all, it is concluded that the monetary policy tends to be adaptive to the inflationary framework under the investigation period considered.

Keywords: Inflation; Money Supply; Causality; Unit Root; Stationarity; Vector Autoregression; Generalized Impulse-Response Shocks; Turkish Economy (search for similar items in EconPapers)
JEL-codes: C32 E31 E51 (search for similar items in EconPapers)
Date: 2009
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Related works:
Journal Article: Parasal Buyume ve Tuketici Enflasyonu Degisim Orani Arasindaki Nedensellik Iliskisi Uzerine Bir Deneme: Turkiye Ornegi (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:19537

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