Enflasyon Hedefleyen Gelismekte Olan Ulkelerin Kriz Donemindeki Faiz Kararlari

Baris Cinar () and Mustafa Yücel

CBT Research Notes in Economics from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: [TR] Merkez bankalarinin politika tepkilerinin enflasyon disi degiskenlerle bagintili bir gorunum arz etmesi kuresel kriz doneminde dikkat ceken bir gelisme olmustur. Enflasyon hedeflemesi rejimini benimsemis gelismekte olan ulkeleri inceleyen bu calisma, faiz kararlari ile enflasyon disi unsurlar arasinda kriz doneminde olusan baga ragmen, geleneksel tepki fonksiyonu degiskenlerinin onemini korudugunu tespit etmektedir. [EN] During the global crisis, central banks’ policy reactions were somewhat associated with factors other than inflation. Focusing on inflation-targeting emerging market economies, this study documents that traditional variables are still important in explaining the monetary reaction functions of central banks, despite the emergence of a relationship between the policy rates and factors other than inflation during the crisis period.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:tcb:econot:1102

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