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Causes of Inflation in Turkey: A Literature Survey with Special Reference to Theories of Inflation

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  • Aykut Kibritcioglu

    ()
    (Ankara University and University of Illinois at Urbana-Champaign)

Abstract

Turkey has experienced high and persistent inflation for more than twenty years. This paper attempts firstly to survey the extremely broad literature on theories of inflation. It is mainly argued that inflation may be interpreted as a net result of sophisticated and continuous interactions of demand-side (or monetary) shocks, supply-side (or real) shocks, price-adjustment (or inertial) factors and political processes (or institutional factors). The second aim of the paper is to compare the existing empirical studies on Turkish inflation, by considering their sample period, data frequency, empirical methods, modeled macroeconomic variables and main results.

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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 28 (2001)
Issue (Month): 21 ()
Pages: A0

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Handle: RePEc:ebl:ecbull:eb-01aa0025

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Citations

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Cited by:
  1. Levent, Korap, 2007. "Impact of Exchange Rate Changes on Domestic Inflation: he Turkish Experience," MPRA Paper 19589, University Library of Munich, Germany.
  2. M. Shahid Ebrahim, 2008. "Can an Islamic Model of Housing Finance Cooperative Elevate the Economic Status of the Underprivileged?," Papers on Economics of Religion, Department of Economic Theory and Economic History of the University of Granada. 08/04, Department of Economic Theory and Economic History of the University of Granada..
  3. Ilker Domac, 2003. "Explaining and Forecasting Inflation in Turkey," Working Papers 0306, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
  4. Ebrahim, M. Shahid & Mathur, Ike, 2007. "Pricing home mortgages and bank collateral: A rational expectations approach," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 31(4), pages 1217-1244, April.
  5. Us, Vuslat, 2004. "Inflation dynamics and monetary policy strategy: some prospects for the Turkish economy," Journal of Policy Modeling, Elsevier, Elsevier, vol. 26(8-9), pages 1003-1013, December.
  6. Gaston Gelos & Alessandro Prati & Oya Celasun, 2003. "Would "Cold Turkey" Work in Turkey?," IMF Working Papers 03/49, International Monetary Fund.
  7. Ozturk, Ilhan, 2002. "Velocity Effect On Inflationary Growth of Turkey: Evidence From Co-integration Analysis and Granger's Causality Test," MPRA Paper 259, University Library of Munich, Germany.
  8. Korap, Levent & Saatçioğlu, Cem, 2009. "New time series evidence for the causality relationship between inflation and inflation uncertainty in the Turkish economy," MPRA Paper 19246, University Library of Munich, Germany.
  9. Daniel Leigh & Marco Rossi, 2002. "Leading Indicators of Growth and Inflation in Turkey," IMF Working Papers 02/231, International Monetary Fund.
  10. Ümit Özlale & Kivilcim Metin Ozcan, 2005. "Does Time Inconsistency Problem Apply For Turkish Monetary Policy?," Working Papers, Turkish Economic Association 2005/2, Turkish Economic Association.

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