Modelling the public sector deficit and inflation relationship in Turkey

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buir.advisorMetin, Kıvılcım
dc.contributor.authorJalel, Hana
dc.date.accessioned2016-01-08T20:14:48Z
dc.date.available2016-01-08T20:14:48Z
dc.date.issued1997
dc.departmentDepartment of Economicsen_US
dc.descriptionAnkara : Department of Economics and Institute of Economics and Social Sciences, Bilkent Univ., 1997.en_US
dc.descriptionThesis (Master's) -- Bilkent University, 1997.en_US
dc.descriptionIncludes bibliographical references leaves 42-47en_US
dc.description.abstractThis study assesses the empirical relationship between the public sector deficit and inflation in Turkey using the cointegration analysis. Since 1986, the Treasury set a consistent, well defined institutional framework to monitor the selling of government bonds and bills in order to finance budget deficit of Turkey besides the issuance of base money by the Central Bank. Inflation is estimated by using scaled budget deficit, growth rate of real income, scaled stock of bonds, scaled interest paid and scaled base money. First, the time series properties of the data set are examined then, weak exogeneity of the independent variables and cointegration are tested. Next, both a single equation and a VAR model are estimated. Weak exogeneity and cointegration tests show that a VAR model is more reliable than a single equation model. The estimation of a VAR model indicates that inflation in Turkey is related solely to its first lag, implying that the Turkish inflation is inertial with about 35% of inertia.en_US
dc.description.degreeM.A.en_US
dc.description.statementofresponsibilityJalel, Hanaen_US
dc.format.extentvi, 46 leaves, graphsen_US
dc.identifier.urihttp://hdl.handle.net/11693/17944
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectTurkish Inflationen_US
dc.subjectGovernment Bondsen_US
dc.subjectBase Moneyen_US
dc.subjectCointegrationen_US
dc.subjectWeak Exogeneityen_US
dc.subjectVAR modelen_US
dc.subject.lccHG1206.5 .J35 1997en_US
dc.subject.lcshInflation (Finance)--Turkey.en_US
dc.titleModelling the public sector deficit and inflation relationship in Turkeyen_US
dc.typeThesisen_US

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