A closer look at the money multipliers for the Turkish economy: Is there a stable relationship?
AbstractThis paper examines whether the money multiplier processes in the Turkish economy is stable and can be forecasted. Research results using quarterly frequency data for the 1987Q1 – 2009Q4 investigation period show that the processes which convert the base money supply aggregates into the final monetary aggregates are unstable and tend to decrease the effectiveness of policies pursued by the monetary authorities. Such a result do not attribute credibility to the traditional Monetarist prescriptions for the conduct of the monetary economic policies in the Turkish economy.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 40778.
Date of creation: 2011
Date of revision:
Publication status: Published in İstanbul Üniversitesi İktisat Fakültesi Memuası 61.1(2011): pp. 283-299
Money Multipliers ; Turkish Economy ;
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
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Open Access publications from Universidad Carlos III de Madrid
info:hdl:10016/731, Universidad Carlos III de Madrid.
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