Monetary policy rules in practice:: Evidence from Turkey

被引：17
|
作者：
Berument, H [1 ]
Tasçi, H
机构：
[1] Bilkent Univ, Dept Econ, Ankara, Turkey
[2] Univ N Carolina, Dept Econ, Chapel Hill, NC 27599 USA
来源：
INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS | 2004年 / 9卷 / 01期
关键词：
inflation targeting; reaction function; spread;
D O I：
10.1002/ijfe.219
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper estimates a forward-looking monetary policy reaction function of the Central Bank of the Republic of Turkey by considering the period from 1990:01 to 2000:10. When the spread between the interbank rate and depreciation rate of the local currency is taken as a policy tool, the empirical evidence suggests that the Turkish Central Bank responds to its foreign exchange reserves, output and M2 growth not the forward, current or lagged inflation. Copyright (C) 2003 John Wiley Sons, Ltd.
引用
收藏
页码：33 / 38
页数：6
相关论文
共 50 条
  • [21] Nonlinear monetary policy rules: Some new evidence for the US
    Dolado, J
    Pedrero, RMD
    Ruge-Murcia, FJ
    [J]. STUDIES IN NONLINEAR DYNAMICS AND ECONOMETRICS, 2004, 8 (03):
  • [22] Monetary policy rules and macroeconomic stability:: Evidence and some theory
    Clarida, R
    Galí, J
    Gertler, M
    [J]. QUARTERLY JOURNAL OF ECONOMICS, 2000, 115 (01): : 147 - 180
  • [23] Monetary policy rules with PID control features: evidence from the UK, USA and EU
    Shepherd, David
    Munoz Torres, Rebeca I.
    Saridakis, George
    [J]. INTERNATIONAL REVIEW OF APPLIED ECONOMICS, 2019, 33 (06) : 737 - 755
  • [24] Monetary and fiscal policy rules in Brazil: empirical evidence of monetary dominance and fiscal dominance
    Moreira, Tito Belchior S.
    Mendonca, Mario Jorge
    Sachsida, Adolfo
    [J]. CEPAL REVIEW, 2021, (135): : 87 - 112
  • [25] The choice of monetary policy tool(s) and relative price variability: Evidence from Turkey
    Berument, M.H.
    Sahin, A.
    Saracoglu, B.
    [J]. Journal of Applied Sciences, 2009, 9 (12) : 2238 - 2246
  • [26] Asymmetric effects of monetary policy shocks on economic performance: empirical evidence from Turkey
    Uelke, Volkan
    Berument, M. Hakan
    [J]. APPLIED ECONOMICS LETTERS, 2016, 23 (05) : 353 - 360
  • [27] Examining the effect of credit on monetary policy with Markov regime switching: Evidence from Turkey
    Ilhan, Ali
    [J]. ECONOMICS AND BUSINESS REVIEW, 2022, 8 (04) : 68 - 87
  • [28] MONETARY RULES AND OPTIMAL MONETARY-POLICY
    RICHARDSON, JA
    [J]. NEBRASKA JOURNAL OF ECONOMICS AND BUSINESS, 1975, 14 (04): : 45 - 63
  • [29] Monetary policy rules.
    Fuhrer, J
    [J]. ECONOMIC JOURNAL, 2002, 112 (483): : F604 - F605
  • [30] Monetary policy rules - Introduction
    Taylor, JB
    [J]. MONETARY POLICY RULES, 1999, : 1 - 14
12345