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A Cointegration Analysis of Alternative Core Inflation Measures for Turkey

Author

Listed:
  • Sakarya, Burchan
  • Yurtoglu, Hasan
  • Duvan, Berke

Abstract

First off, we conduct a cointegration analysis for alternative core inflation measures offered by Cihan and Malatyalı (1999) on total inflation of Turkey. We observe that while some measures display the desired properties some do not. However, all those series display strong common deterministic trend. Additionally, we have tested the alternative measures of core inflation against the money growth.

Suggested Citation

  • Sakarya, Burchan & Yurtoglu, Hasan & Duvan, Berke, 1999. "A Cointegration Analysis of Alternative Core Inflation Measures for Turkey," MPRA Paper 69191, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:69191
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    File URL: https://mpra.ub.uni-muenchen.de/69191/1/MPRA_paper_69191.pdf
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    References listed on IDEAS

    as
    1. Michael F. Bryan & Stephen G. Cecchetti, 1994. "Measuring Core Inflation," NBER Chapters, in: Monetary Policy, pages 195-219, National Bureau of Economic Research, Inc.
    2. Freeman, Donald G., 1998. "Do core inflation measures help forecast inflation?," Economics Letters, Elsevier, vol. 58(2), pages 143-147, February.
    3. Mark A. Wynne, 2008. "Core inflation: a review of some conceptual issues," Review, Federal Reserve Bank of St. Louis, vol. 90(May), pages 205-228.
    4. Shiratsuka, Shigenori, 1997. "Inflation Measures for Monetary Policy: Measuring the Underlying Inflation Trend and Its Implication for Monetary Policy Implementation," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 15(2), pages 1-26, December.
    5. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
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    Cited by:

    1. Bilgili, Faik, 2007. "The Permanent and Transitory Effects on Consumption and Income: Evidence from the Turkish Economy," MPRA Paper 24090, University Library of Munich, Germany, revised 20 Jul 2010.

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    More about this item

    Keywords

    Inflation; Monetary Policy;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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