Three essays on inflation and monetary policy in Turkey

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buir.advisorÖzcan, Kıvılcım Metin
dc.contributor.authorUs, Vuslat
dc.date.accessioned2016-07-01T10:59:34Z
dc.date.available2016-07-01T10:59:34Z
dc.date.issued2003
dc.departmentDepartment of Economicsen_US
dc.descriptionCataloged from PDF version of article.en_US
dc.description.abstractThis dissertation analyzes three studies on inflation dynamics and monetary policy alternatives in Turkey. In the first article, inflation inertia is analyzed. To this aim, expectations are assumed to be formed optimal univariate in a staggared contracts model setting,. An alternative assumption, which then would be subject to Lucas critique, is that expectations are naive. Consequently, the analysis favors the first alternative to the latter one in explaining high and persistent inflation. In the second study, the degree of currency substitution is analyzed by using various definitions. More specifically, ratchet effect in currency substitution is studied by Autoregressive distributed lag (ADL) procedure. The statistical evidence suggests that even though currency substitution has been persistent at an increasing degree, the economy at large has not been irreversibly dollarized yet. The final study of this dissertation discusses monetary transmission mechanism in a small structural model setting. In this framework, using various simulations the implementation of a standard Taylor Rule is analyzed. The alternative proposal is the use a monetary conditions index as a policy rule. The results show that the second alternative is preferable since the economy is then exposed to lessened volatility.en_US
dc.description.degreePh.D.en_US
dc.description.statementofresponsibilityUs, Vuslaten_US
dc.format.extentxv, 131 leaves, graphics and tablesen_US
dc.identifier.itemidBILKUTUPB073247
dc.identifier.urihttp://hdl.handle.net/11693/29426
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectTurkish economyen_US
dc.subjectMonetary conditions indexen_US
dc.subjectTaylor ruleen_US
dc.subjectMonetary transmission mechanismen_US
dc.subjectdollarizationen_US
dc.subjectRatchet effecten_US
dc.subjectAutoregressive distributed lagen_US
dc.subjectCurrency substitutionen_US
dc.subjectLucas critiqueen_US
dc.subjectOptimal univariate expectationsen_US
dc.subjectPersistent inflationen_US
dc.subject.lccHG1206.5 .U8 2003en_US
dc.subject.lcshInflation (Finance) Turkey.en_US
dc.titleThree essays on inflation and monetary policy in Turkeyen_US
dc.typeThesisen_US

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Dept. of Economics - Ph.D. / Sc.D.