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Identifying Credit Supply Shocks in Turkey

Tayyar Buyukbasaran, Hatice Karasoy Can and Hande Kucuk ()

Working Papers from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: This paper aims to identify credit supply shocks and analyse their macroeconomic effects in Turkey. For this purpose, we use a Bayesian Structural Vector Autoregression (SVAR) with sign and zero restrictions. We focus on the impact of credit supply shocks on real GDP growth and highlight how the size of this impact changes when we explicitly account for the effects of capital inflows on credit conditions. Hence, our results confirm the importance of external finance for credit supply in Turkey. Our main findings are robust to some alternative data choices, prior selections as well as some alternative identifying restrictions.

Keywords: Credit supply shocks; SVAR; Bayesian VAR; Sign and zero restrictions (search for similar items in EconPapers)
JEL-codes: C11 C32 E52 F41 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-ara, nep-ban, nep-fdg and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:tcb:wpaper:1906

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