EconPapers    
Economics at your fingertips  
 

Testing quantity theory of money for the Turkish economy

Levent Korap ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, it is tried to test the main assumptions of the Quantity Theory of Money for the Turkish economy. Using some contemporaneous estimation techniques to examine the long-run stationary economic relationships on which the quantity theory is constructed, it is found that stationary characteristics of the velocitities of narrowly and broadly defined monetary aggregates cannot be rejected. However, monetary aggregates seem to be endogenous for the long-run evoluation of prices and real income. It is concluded that monetary authorities follow an accommodative monetary policy inside the period given the endogeneity of the monetary variables.

Keywords: Theory of Money; Neutrality; Co-integration; Turkish Economy (search for similar items in EconPapers)
JEL-codes: C32 E31 E41 E61 (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Published in Journal of BRSA Banking and Financial Markets 2.1(2007): pp. 93-109

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/21704/1/MPRA_paper_21704.pdf original version (application/pdf)

Related works:
Journal Article: Testing Quantity Theory of Money for the Turkish Economy (2007) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:21704

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2025-03-19
Handle: RePEc:pra:mprapa:21704