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Kriz Ve Para Politikaları: Para Politikalarının Başarısızlığı Üzerine

Author

Listed:
  • Erkan TOKUCU

    (Kafkas University)

Abstract

Amerika Birleşik Devletleri’nde 2007 yılında başlayan finansal kriz çok sayıda etkenin bir araya gelmesiyle oluşmuştur; artan likidite bolluğu, finansal piyasaların yeterince denetlenmemesi, Amerika Birleşik Devletleri’nde faiz oranlarının 2001-2005 yılları arasında düşük olması, maliye politikalarının azalan önemi, 1990’lardan itibaren finansal piyasalarda meydana gelen gelişmeler gibi etkenler krizin oluşmasını sağlayan etkenlerdir. Krizle birlikte hem akademisyenler hem de politikacılar tarafından krizin nedenleri hakkında çok sayıda argüman ileri sürülmektedir. Bu argümanlardan birisi de kriz döneminde uygulanmakta olan para politikalarıyla ilgilidir. Enflasyon oranlarının tek gösterge olarak alınması, politika aracı olarak faiz oranlarının tercih edilmesi ve finansal piyasalardaki gelişmelerin para politikası modeline dahil edilmemesi gibi konular en çok tartışılan konulardandır.

Suggested Citation

  • Erkan TOKUCU, 2010. "Kriz Ve Para Politikaları: Para Politikalarının Başarısızlığı Üzerine," Ekonomik Yaklasim, Ekonomik Yaklasim Association, vol. 21(76), pages 31-54.
    • Handle: RePEc:eyd:eyjrnl:v:21:y:2010:i:76:p:31-54
    DOI: 10.5455/ey.20044
    Note: [English Title] The 2007 Financial Crisis and Monetary Policies: On the Monetary Policies’s Failure [English Abstract] The last financial crisis that has started in USA at 2007 has occured by combining many factors such as increasing liquidity in the world, deficient supervision in the financial markets, falling interest rates in USA and EU between 2002-2005, decreasing significance of fiscal policies in recent years and developments in the financial markets. With the crisis, many arguments regarding reasons of 2007 financial crisis have been asserted by academics and politicians. One of these arguments is about monetary policy that has been used during the crisis. In this context, subjects, such as acceptance of inflation rates as an indicator, favouring interest rates as a policy tool, and the monetary policy model that excludes developments in financial markets, are the most controversial matters. [English Keywords] Monetary Policies, New Keynesian Monetary Policies, Taylor Rule, Financial Crisis.
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    Keywords

    Para Politikaları; Yeni Keynesyen Para Politikaları; Taylor Kuralı; Finansal Kriz.;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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