Does the Central Bank of the Republic of Turkey respond asymmetrically to inflation and output?
Yazarlar (1)
Prof. Dr. Ümit BULUT Kırşehir Ahi Evran Üniversitesi, Türkiye
| Makale Türü | Özgün Makale (ESCI dergilerinde yayınlanan tam makale) | ||
| Dergi Adı | Margin: The Journal of Applied Economic Research | ||
| Dergi ISSN | 0973-8029 Wos Dergi Scopus Dergi | ||
| Dergi Tarandığı Indeksler | ESCI | ||
| Makale Dili | İngilizce | Basım Tarihi | 11-2019 |
| Kabul Tarihi | 12-04-2026 | Yayınlanma Tarihi | – |
| Cilt / Sayı / Sayfa | 13 / 4 / 381–400 | DOI | 10.1177/0973801019868374 |
| Makale Linki | https://journals.sagepub.com/doi/full/10.1177/0973801019868374 | ||
| Özet |
| This article aims to estimate a forward-looking reaction function for the Central Bank of the Republic of Turkey (CBRT) considering possible asymmetries in the reaction function. For this purpose, it uses quarterly data over the period 2006:1–2018:1 and performs the nonlinear autoregressive distributed lag (NARDL) cointegration test. The findings obtained from the NARDL test indicate that the CBRT has an asymmetric reaction function and considers increases in inflation and decreases in output while adjusting short-term interest rates. Theoretical and practical implications for these findings are also discussed.JEL Classification: C22, E52, E58 |
| Anahtar Kelimeler |
| Asymmetric Cointegration Test | Inflation Expectations | Inflation Targeting | Monetary Policy Reaction Function | The Central Bank of the Republic of Turkey |
BM Sürdürülebilir Kalkınma Amaçları
| Atıf Sayıları | |
| Google Scholar | 7 |
| Web of Science | 6 |