Monetary policy in Turkey after Central Bank independence

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dc.citation.epage33en_US
dc.citation.issueNumber356en_US
dc.citation.spage1en_US
dc.citation.volumeNumber30en_US
dc.contributor.authorGürkaynak, R. S.en_US
dc.contributor.authorKantur, Z.en_US
dc.contributor.authorTaş, A. M.en_US
dc.contributor.authorYıldırım-Karaman, S.en_US
dc.date.accessioned2019-02-08T12:18:29Z
dc.date.available2019-02-08T12:18:29Z
dc.date.issued2015en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractWe present an accessible narrative of the Turkish economy since its great 2001 crisis. We broadly survey economic developments and pay particular attention to monetary policy. The data suggests that the Central Bank of Turkey was a strong inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal anchor is visible in the break we estimate in Taylor-type rules as well as in asset prices. We also argue that recent discrete jumps in Turkish asset prices, especially the exchange value of the lira, are due more to domestic factors. In the post-2009 period the Central Bank was able to stabilize expectations and asset prices when it chose to do so, but this was the exception rather than the rule.en_US
dc.description.provenanceSubmitted by Ülkü Ögel (ulkul@bilkent.edu.tr) on 2019-02-08T12:18:29Z No. of bitstreams: 1 Monetary_Policy_in_Turkey_after_Central_Bank_Independence.pdf: 1116068 bytes, checksum: 5c3f177850776913295c651730754fe1 (MD5)en
dc.description.provenanceMade available in DSpace on 2019-02-08T12:18:29Z (GMT). No. of bitstreams: 1 Monetary_Policy_in_Turkey_after_Central_Bank_Independence.pdf: 1116068 bytes, checksum: 5c3f177850776913295c651730754fe1 (MD5) Previous issue date: 2015en
dc.identifier.doi10.3848/iif.2015.356.4592en_US
dc.identifier.eissn1308-4658
dc.identifier.issn1300-610X
dc.identifier.urihttp://hdl.handle.net/11693/49161
dc.language.isoEnglishen_US
dc.publisherBİLGESEL Yayıncılık San. ve Tic. Ltd. Şti.en_US
dc.relation.isversionofhttps://doi.org/10.3848/iif.2015.356.4592en_US
dc.source.titleİktisat İşletme ve Finansen_US
dc.subjectTurkeyen_US
dc.subjectCBRTen_US
dc.subjectMonetary policyen_US
dc.subjectFiscal policyen_US
dc.titleMonetary policy in Turkey after Central Bank independenceen_US
dc.typeArticleen_US

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