Merhaba Misafir

An Indıcator Of Monetary Condıtıons For Turkey


In this study, a Monetary Conditions Index (MCI) for Turkey is constructed for the 2003-2008 period, using a VAR methodology. The MCI weights are estimated on the basis of generalized accumulated responses of the infl ation rate to one standard deviation shock to the real short term interest rate and the real rate of appreciation. The responses of output and infl ation to interest rate and exchange rate shocks exhibit patterns which point to the structural peculiarities of the Turkish economy. The monetary conditions refl ected by the resulting index are consistent with the path of infl ation and CBT remarks on the issue.

Yayınlandığı Kaynak : Ekonomik Yaklaşım
  • Yıl : 2010
  • Cilt : 21
  • ISSN : 1300-1868
  • Sayı : 74
  • Sayfa Aralığı : 0-0
  • IO Kayıt No : 17176
  • Yayıncı : Ekonomik Yaklaşım Derneği