The Taylor Rule in Estimating the Performance of Inflation Targeting Programs: The Case of Turkey
AbstractIn this study, we aim to analyse the performance of inflation targeting program named A Transition Program into a Powerful Economy in particular since 2002 until the end of 2009 by using Taylor rule in a different way. We divide inflation targeting period in accordance with the governors of the CBRT, Sureyya Serdengecti and Durmus Yilmaz, as a most important element that affects inflation targeting program among other factors.Results imply that Mr. Serdengecti did not follow a pure Taylor rule while Mr. Yilmaz does. In Serdengecti period, the CBRT does not take in account output gap movements and exchange rate while deciding short term interest rate as said in Taylor rule. But the CBRT takes into account outgap movements and exchange rate movements in Yilmaz period, and these variables have important portion in discussing of short term interest rate while it is not so necessary in Serdengecti period.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by De Gruyter in its journal Global Economy Journal.
Volume (Year): 11 (2011)
Issue (Month): 1 (March)
Contact details of provider:
Web page: http://www.degruyter.com
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Golla).
If references are entirely missing, you can add them using this form.