Measuring the effects of monetary policy for Turkey

buir.contributor.author	Berument, Hakan
dc.citation.epage	110	en_US
dc.citation.issueNumber	1	en_US
dc.citation.spage	83	en_US
dc.citation.volumeNumber	29	en_US
dc.contributor.author	Berument, Hakan	en_US
dc.contributor.author	Dincer, N. N.	en_US
dc.date.accessioned	2016-02-08T10:10:51Z
dc.date.available	2016-02-08T10:10:51Z
dc.date.issued	2008	en_US
dc.department	Department of Economics	en_US
dc.description.abstract	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.	en_US
dc.identifier.issn	0252-953X
dc.identifier.uri	http://hdl.handle.net/11693/23250
dc.language.iso	English	en_US
dc.publisher	Statistical Economic and Social Research and Training Centre for Islamic Countries	en_US
dc.source.title	Journal of Economic Cooperation	en_US
dc.title	Measuring the effects of monetary policy for Turkey	en_US
dc.type	Article	en_US

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