Türkiye Ekonomisinde Enflasyon ve Üretim Değişkenliği Değiş-Tokuş İlişkisinin Dinamik Analizi

Telatar, Funda; Abiyev, Vasif
March 2010
TISK Academy / TISK Akademi;2010, Vol. 5 Issue 9, p82
Academic Journal
The relative weight on the goal of price stability versus output stability in the monetary authority's objective function is predicted to increase under an inflation targeting regime, which has been adopted in many countries since the 1990s. In the related literature, it is shown that decreasing inflation is likely to have a cost in terms of increased output volatility. In this study, we estimate the time-varying relationship between inflation variability and output variability for the Turkish economy during the period of 1987-2006. Our estimation results obtained from the multivariate generalized autoregressive conditional heteroskedasticity (MGARCH) model indicate that the correlation coefficient has changed during the sample period and had mostly negative sign. It could be said that adoption of the inflation targeting as a new monetary policy framework in recent years, as theoretically expected, has led to a decrease in both the level and uncertainty of inflation rate causing output to be more volatile.


Related Articles

  • Rising Oil Prices Ring Alarm Bells.  // Emerging Europe Monitor: South East Europe Monitor;Apr2012, Vol. 19 Issue 4, p1 

    The article reports on the potential impact of the rising oil prices worldwide on the economic condition of Turkey in 2012. It discusses the monetary policy normalization implemented by the Central Bank of the Republic of Turkey (CBRT) in February. It also tackles the country's rising account...

  • Türkiye'de Açık Ekonomi Para Politikası Kuralının GeçerliliÄŸi: Sınır Testi Yaklaşımı. YAPRAKLI, Sevda // Is, Guc: The Journal of Industrial Relations & Human Resources;Jan2011, Vol. 13 Issue 1, p129 

    No abstract available.

  • Inflation: Outlook.  // Turkey Country Monitor;Nov2011, p10 

    The article discusses the outlook for inflation in Turkey as of 2011. It states that the annual price growth could reach about 10% by the end of 2011. It also says that the Turkish lira may not stabilize soon given the high monetary policy of the Turkish Central Bank and the uncertainty around...

  • The New Keynesian Phillips Curve in an Inflation Targeting Country: The Case of Turkey. Gozgor, Giray // International Journal of Economic Sciences & Applied Research;Apr2013, Vol. 6 Issue 1, p7 

    The possible short-run trade-off between the inflation (gap) and the output (gap) remains a critical policy issue for any emerging economy; particularly when an implicit or an explicit inflation targeting monetary policy is considered. The New Keynesian Phillips Curve (NKPC) has recently set up...

  • GEVÅžEK PARASAL GÖSTERGELER VE ENFLASYON HEDEFLEMESÄ° STRATEJÄ°SÄ° ALTINDA, ENFLASYONLA MÃœCADELE: 2001-2011 TÃœRKÄ°YE DENEYÄ°MÄ°. YILMAZ, Ahmet; ARI, Ali // Marmara University Journal of Economic & Administrative Sciences;2013, Vol. 34 Issue 1, p11 

    Examining the period of 2001-2011, the period when success in fight with galloping inflation was achieved, this study aims to identify the reasons for success and the unique features of the Turkish experience. The prevailing opinion within the circles of the Central Bank on the reasons of...

  • Turkey: Central bank rates decision critical for growth. Rosenbaum, Andrew Jay // Journal of Turkish Weekly;12/22/2015, p62 

    The article considers the implications of the Turkish central bank's interest rate decision for the future economic growth of Turkey. Topic discussed include the economic implications of the country's monetary policy, the economists' view that the central bank with hold rates at their current...

  • Turkey: Overnight Borrowing Rate To Rise Further.  // Emerging Markets Monitor;6/23/2008, Vol. 14 Issue 12, p17 

    The article reports on the move of the Central Bank of the Republic of Turkey (CBRT) to increase its benchmark overnight borrowing rate by 50 basis points (bps) on June 16, 2008. The monetary policy committee (MPC) of CBRT has announced that the country might be able to meet its 7.5% target...

  • Turkish inflation reaches close to 9 percent in October.  // Journal of Turkish Weekly;11/3/2014, p1 

    The article reports that inflation rate in Turkey has increased above expectations climbing by 1.9% in October 2014 to reach 8.96% yearly. According to official data released on November 3, the annual inflation last month surpassed the Turkish Central Bank's announced year-end inflation target...

  • Further Upside Ahead For Inflation.  // Middle East Monitor: East Med;Sep2008, Vol. 18 Issue 9, p4 

    The article focuses on the expected progression of inflation in Turkey by the end of 2008. It attributes the forecast to the increasing growth of energy and producer prices and other core indicators. It notes that Turkish inflation has experienced a downside in June with a continuous decrease of...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics