Structural VAR identification of the Turkish business cycles

Levent Korap ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, we investigate some of the main properties of the Turkish business cycles. Our empirical findings indicate that domestic inflation is countercyclical with real output and lags the GDP cycle by one quarter. We then construct a structural VAR model upon the Turkish economy, and estimate that the courses of real variables are mainly determined by the supply shocks, while both real and nominal shocks affect significantly the dynamics of the nominal variables.

Keywords: Business Cycles; Turkish Economy; SVAR Models (search for similar items in EconPapers)
JEL-codes: C32 E31 E32 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:21971

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