The implicit reaction function of the Central Bank of the Republic of Turkey

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buir.contributor.authorBerument, Hakan
dc.citation.epage430en_US
dc.citation.issueNumber7en_US
dc.citation.spage425en_US
dc.citation.volumeNumber7en_US
dc.contributor.authorBerument, Hakanen_US
dc.contributor.authorMalatyali, K.en_US
dc.date.accessioned2016-02-08T10:39:11Z
dc.date.available2016-02-08T10:39:11Z
dc.date.issued2000en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractReviewing the implicit reaction function estimation under different specifications, it appears that the Central Bank of the Republic of Turkey (CBRT) responds to the lagged inflation rate rather than the forward one, M2Y growth is targeted on an annual basis and a serious output targeting policy was implemented while neither real nor nominal depreciation of the foreign currency basket was taken into consideration during the period 1989:07-1997:03. Also, we conclude that the CBRT does not target currency issued, M2, net domestic assets or net foreign assets nor does it take any of the budget deficit measures into account while determining its monetary policy.en_US
dc.identifier.doi10.1080/135048500351104en_US
dc.identifier.eissn1466-4291
dc.identifier.issn1350-4851
dc.identifier.urihttp://hdl.handle.net/11693/25100
dc.language.isoEnglishen_US
dc.publisherRoutledgeen_US
dc.relation.isversionofhttps://doi.org/10.1080/135048500351104en_US
dc.source.titleApplied Economics Lettersen_US
dc.subjectCentral banken_US
dc.subjectInflationen_US
dc.subjectMonetary policyen_US
dc.subjectTurkeyen_US
dc.titleThe implicit reaction function of the Central Bank of the Republic of Turkeyen_US
dc.typeArticleen_US

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