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MEASURING THE EFFECTS OF MONETARY POLICY FOR TURKEY
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نویسنده
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Berument Hakan ,Nergiz Dincer N.
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منبع
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journal of economic cooperation and development - 2008 - دوره : 29 - شماره : 1 - صفحه:83 -110
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چکیده
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This paper proposes a specification to identify the monetary policy for a small open economy, turkey. the monetary policy is measured by using the spread between the central bank’s interbank interest rate and the depreciation rate of the domestic currency. a var type of model is used to identify monetary policy covering the period 1986:05-2000:10. the results suggest that tight monetary policy has a transitory effect on output but a permanent effect on prices. this specification is free of some puzzles such as the price puzzle and the liquidity puzzle that hampered some of the previous studies.
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آدرس
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Bilkent University, Department of Economics, Turkey. State Planning Organization, Economic Modeling Department, Bilkent University, Department of Economics, Turkey. State Planning Organization, Economic Modeling Department
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پست الکترونیکی
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ndincer@dpt.gov.tr
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Authors
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