Advanced Search
MyIDEAS: Login to save this paper or follow this series

Yapisal Kirilma Altinda Para Talebinin Istikrari: Türkiye Örnegi

Contents:

Author Info

  • Nazif Catik

    ()
    (Department of Economics, Ege University)

Abstract

(This paper is in Turkish) This study investigates the stability of the relationship between demand for real money, real income, and interest rates in Turkey using quarterly data for the period from 1988:I to 2005: IV. According to conventional stability tests the demand for money is subject to serious parameter instabilities, especially during the periods of economic crises. Zivot and Andrews (1992) unit root tests show the existence of structural breaks in the variables, but the existence of breaks do not change the results obtained from the conventional ADF tests. Although the standard multivariate cointegration analysis reveals a longrun relationship between variables, the evidence of cointegration is not present when a structural break is found in the relationship using Gregory and Hansen (1996) methodology. These findings show that Central Bank of Turkey must be cautious in using monetary aggregates as a potential indicator of monetary policy.

Download Info

If 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.
File URL: http://iibf.ege.edu.tr/economics/papers/wp06-11.pdf
File Function: First version, 2006
Download Restriction: no

Bibliographic Info

Paper provided by Ege University, Department of Economics in its series Working Papers with number 0611.

as in new window
Length: 15 pages
Date of creation: Dec 2006
Date of revision:
Handle: RePEc:ege:wpaper:0611

Contact details of provider:
Web page: http://www.iibf.ege.edu.tr/economics/
More information through EDIRC

Related research

Keywords: Money Demand; Structural Break; Zivot-Andrews Unit Root Test; Gregory-Hansen Cointegration Test; Para Talebi; Yapisal Kirilma; Zivot-Andrews Birim Kök Testi; Gregory-Hansen Esbütünlesme Testi;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ege:wpaper:0611. See general 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: (Baris Gök).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.